KYC & CDD

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 Data

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.

Emerging Prudential Risks

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.

Trading & Investment

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.

Resolution & Recovery

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.

Data Privacy

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.

Structural Regulation

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.

Structural Regulation

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 Adequacy

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.