AML / KYC

HKMA Issues Guidance on Preventing eDDA Fraud

06/10/2021

The HKMA provides good practices banks can use to guard against different fraud scenarios when offering electronic direct debit authorisation services.

AML / KYC

US to Gather 30 Countries to Coordinate Ransomware Response

06/10/2021

The Counter-Ransomware Initiative is aimed at improving law enforcement collaboration and stemming the illicit use of cryptocurrency.

CBIRC Directs Banks to Finance Coal Amid Energy Crisis

06/10/2021

China’s energy crisis is the result of efforts to reduce domestic coal production to meet climate policy objectives, exacerbated by a ban on imports from Australia.

Securities / Derivatives

Thailand, China to Explore Market Connectivity Initiatives

05/10/2021

SEC and CSRC officials have agreed to explore the development and implementation of connectivity initiatives between their markets.

ESG / Sustainability

IASB Launches Post Implementation Review of IFRS 9

05/10/2021

Among other areas, the review seeks input on the application of IFRS 9 to financial instruments with sustainability-linked features and cash flows linked to ESG targets.

Market Infrastructure

BOJ Issues Consultation on Use of Synthetic JPY LIBOR

05/10/2021

Input is sought on the special circumstances in loan and bond contracts that would make transition difficult and the specific details of such circumstances.

ESG / Sustainability

HSBC, Temasek to Establish Platform to Fund Sustainable Infrastructure

04/10/2021

HSBC and Temasek, with support from ADB and Clifford Capital Holdings, will dispense over $1bn in loans through the platform within 5 years.

Market Infrastructure

ISDA Implements New Definitions for Interest Rate Derivatives

04/10/2021

LCH says the new definitional booklet reinforces standardisation, drives messaging fidelity and efficiency, and accommodates flexibility in markets.

Enforcement

New Zealand: Class Action Filed Against ANZ, ASB

04/10/2021

The class action reportedly involves interest and fees ANZ and ASB were not entitled to charge due to breaches of their disclosure obligations.