AML / KYC

PEPs in the Limelight: Three Components to Mitigate Risk

19/08/2020

To understand the money laundering risks they face, financial firms need a robust and scalable approach to PEP identification and due diligence, says Refinitiv’s Michael Meadon.

Market Infrastructure

China to Promote Cross-Border Use of Renminbi, says PBOC

19/08/2020

China will facilitate trade and investment using the renminbi, the PBOC said in its annual RMB Internationalization Report.

Market Infrastructure

Taiwan to Tighten Rules on Investments from Mainland China

19/08/2020

A draft amendment will expand the definition used to determine whether a Taiwanese firm is considered Chinese-owned or under the control of a Mainland company.

Securities / Derivatives

SEBI Consults on New Format for Sustainability Reporting

18/08/2020

The top 1,000 listed entities by market cap can adopt the new format voluntarily for the financial year 2020-21. It will become mandatory from the financial year 2021-22.

AML / KYC

WWF, ACAMS Launch New Initiative Targeting Illegal Wildlife Trade

18/08/2020

The partnership seeks to bridge gaps in the financial systems that criminals exploit to move, hide and launder the proceeds of the illegal trade in wildlife.

Market Infrastructure

RBI Issues Draft Framework on Recognition of Payments SROs

18/08/2020

Recognised self-regulatory organisations would be responsible for establishing minimum benchmarks and standards for the proper functioning of their member entities.

Market Infrastructure

RBI Allows Formation of New Umbrella Entities for Retail Payments

18/08/2020

The framework allows private firms to apply to set up a new umbrella entity to operate retail payment systems. Currently, only the NPCI operates such an entity.

AML / KYC

Pakistan Legislature Progresses Five FATF-related Bills

18/08/2020

Pakistan has taken another step towards its removal from the FATF grey list with the passage of five new bills in the National Assembly.

AML / KYC

UN Security Council Rejects Extension of Iran Arms Embargo

18/08/2020

The UN Security Council has rejected a US resolution to extend an international arms embargo on Iran due to expire on 18 October.