Requirements for MMFs could include capital buffers, higher liquidity requirements, or the removal of the stable NAV, among other options.
Most of the funding obtained by extreme right-wing groups comes from legal sources, such as donations, membership fees, and commercial activities.
The guidance highlights the need for effective onboarding processes, ongoing monitoring, staff training, risk management, sanctions screening, and a strong compliance culture.
Lax attitudes towards security by consumers have made it increasingly important for banks to take advantage of digital identity systems and put in place robust security measures.
The report highlights the use of trade-based fraud and shell companies by criminals to launder proceeds from environmental crime.
Algorithmic trading and high-frequency trading were generally not found to have a deteriorating impact on market liquidity or increase market volatility.
The FSC arrived at the decision based on economic projections, bank stress tests, higher capital adequacy ratios, and higher loan loss provisions.
Banks have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during a bank resolution.
The paper calls on regulators to issue more guidance on the classification of tokens and modernise paper-based requirements in securities markets.
The FATF finalised reports on technological innovation, environmental crime, and asset recovery. New guidance on PF risk and a white paper on beneficial ownership were also finalised.