Enforcement

FCA Bans Ex-Barclays Banker for Life Over EURIBOR Rigging

07/11/2021

The decision comes after the former banker lost an attempt to overturn his 2019 conviction and sentencing to five years in prison.

Capital / Liquidity

Japan FSA Proposes Revisions to Leverage Ratio Requirements

07/11/2021

For internationally-active banks, the new leverage ratio requirements will commence from 31 March 2023 and for other banks one year later.

Fintech / Regtech

Australia Open Banking Regime Reaches New Milestone

07/11/2021

Major banks can enable data sharing for corporate customers and business partnerships. Non-major banks face enforcement action for non-compliance with their data sharing obligations.

Australia Tables Final Tranche of Royal Commission-related Bills

06/11/2021

Legislation was introduced to establish the FAR and CSLR. Separate bills were introduced to improve the superannuation system and outcomes for litigation funding participants.

ESG / Sustainability

Bank Compensation Practices More Advanced Than Other FIs: FSB

05/11/2021

The use of balanced scorecards based on KPIs in determining compensation is “critical” to promoting a sound risk culture in a firm, the FSB says.

Market Infrastructure

China Further Tightens Rules on Cross-border Data Transfers

05/11/2021

Government reviews will be mandatory if data exporters handle personal data of more than 1 million residents, or the “sensitive” personal data of more than 10,000 people.

ESG / Sustainability

NGFS Members Reaffirm Commitment to Climate Action

05/11/2021

The “NGFS Glasgow Declaration” pledges central banks and supervisors to continue fostering action on climate change and greening the financial system.

ESG / Sustainability

IFC, HKMA Join Forces on New Climate Finance Initiative

04/11/2021

The programme will combine institutional investor contributions with IFC funds to scale up climate-responsible financing for private companies in emerging markets.

Securities / Derivatives

S. Korea to Relax Reporting Rules for FIs Investing Overseas

04/11/2021

The proposed rule changes seek to ease the reporting burden faced by financial firms with business operations and investments in overseas markets.