AML / KYC

AUSTRAC Issues Guidance to Help Customers Without Standard IDs

09/12/2022

The guidance will help FIs develop alternative customer identification and verification procedures to help customers that are unable to meet standard ID requirements.

ESG / Sustainability

Malaysia JC3 to Prioritise Work on Climate & Environmental Data

09/12/2022

The JC3 will work with data providers in 2023 to improve data accessibility, quality, comparability and consistency; and develop strategies to substantially reduce data gaps.

ESG / Sustainability

BCBS Issues Guidance on Capturing Climate Risks in Pillar 1 Standards

09/12/2022

The FAQs cover RWA calculations for credit risk, operational risk, and market risk, as well as considerations for meeting LCR requirements.

Market Infrastructure

RBI Restores Pre-pandemic Market Hours for Certain Markets

09/12/2022

Commercial paper, certificates of deposit, corporate bond repo and rupee interest rate derivatives markets will be restored to 9am-5pm.

Capital / Liquidity

More Work Needed on Resolution Plans for CCPs, Insurers: FSB

09/12/2022

The FSB said resolution planning for G-SIBs is maturing but more progress is needed on the development of resolution plans for CCPs and insurers.

Fintech / Regtech

Australia to Expand CDR to Enable Action Initiation

08/12/2022

Under a new bill in Parliament, consumers will be able to instruct accredited third parties to initiate CDR‑powered actions on their behalf.

Securities / Derivatives

IFSCA Mulls Introduction of VCC Structure in GIFT City

08/12/2022

An expert committee set up by the IFSCA in 2020 has proposed a legal framework for introducing the VCC structure for funds operating in GIFT City.

China Tightens Regulations on the Use of the Word “Bank”

08/12/2022

Banks and insurers are required to report entities that are discovered using the word “bank” illegally, and may not provide services to such entities.

Capital / Liquidity

RBI Issues Revised Regulatory Framework for UCBs

08/12/2022

The four-tiered regulatory framework for UCBs will allow the RBI to prescribe more differentiated requirements based on size.