Capital / Liquidity

EU Proposes to Adjust Bank Crisis Management Framework

20/04/2023

The proposal will facilitate the use of deposit guarantee schemes and resolution funds to shield depositors from bearing losses in banking crises.

Market Infrastructure

CFETS Invites Foreign Investors to Apply for Membership

20/04/2023

Foreign institutional and central bank-like investors investing in China’s bond market can apply to become CFETS members and participate in the FX market.

ESG / Sustainability

Verra Publishes New Draft Methodology for REDD Projects

20/04/2023

The updated draft comes after investigative journalists reported finding that most of Verra’s forest carbon offsets do not represent genuine carbon reductions.

Enforcement

Dubai: KPMG Ordered to Pay Investors Over Audit Violations

20/04/2023

The court said KPMG Lower Gulf committed “many violations” of international auditing standards and ordered the firm to pay investors $231mn.

ACCC Defers Decision on ANZ-Suncorp Merger to End-July

20/04/2023

The timeframe can be extended if applicants agree. ANZ agreed to an ACCC request to extend the review period from 12 June to 28 July.

Ravi Menon Reported to be Leaving MAS This Year

20/04/2023

Ravi Menon is MAS’ longest-serving managing director. Former deputy managing director Chia Der Jiun is tipped to be Menon’s successor.

AML / KYC

FATF Reiterates Calls for Global Adoption of Crypto AML Rules

20/04/2023

At a meeting in Tokyo last week, officials and the private sector discussed global progress and challenges in regulating virtual assets.

AML / KYC

ASIC Calls on Banks to Reconsider Approach to Scams

20/04/2023

Only 13 percent of scam payments made by customers were detected and stopped by the big four banks. Customers were “overwhelmingly” the bearer of scam losses.

Fintech / Regtech

Financial Sector Participating in Global Cyber Defence Exercise

20/04/2023

FS-ISAC member firms including Barclays, CME Group, Mastercard and Santander are participating in the so-called ‘Locked Shields’ exercise this year.