AML / KYC

BitMEX Founders Charged for Evading AML Requirements

03/10/2020

Four individuals were charged for “willfully” failing to establish, implement, and maintain an adequate AML programme that included a KYC component.

Bangladesh Further Extends Ban on Downgrading Borrowers

02/10/2020

Bangladesh Bank has instructed banks not to change their classifications of loans for another three months for borrowers that fail to make repayments.

AML / KYC

Australia to Allocate A$800m to Digital Initiatives in Budget

02/10/2020

The plan includes the development of a digital identity system, modernisation of business registers, rollout support for the CDR, and regtech/fintech initiatives.

ESG / Sustainability

IFRS Foundation Consults on Role in Global Sustainability Standards

02/10/2020

One possible option is for the IFRS Foundation to establish a new sustainability standards board, operating alongside the IASB, focusing initially on climate-related matters.

Capital / Liquidity

RBI Defers Implementation of NSFR, Final Tranche of CCB

02/10/2020

The delays are a result of “continuing stress on account of Covid-19”, giving banks a further six months until 1 April 2021 to meet the higher requirements.

Fintech / Regtech

ACCC Concludes Refinitiv-LSEG Merger Review

02/10/2020

The ACCC examined horizontal overlaps and vertical relationships between LSEG and Refinitiv, as well as potential competition issues, and is not opposed to the transaction.

Market Infrastructure

SWIFT Developing Low-Value Cross-Border Payments Service

02/10/2020

The new initiative will improve the payments experience for consumers and SMEs, making them faster, more transparent, easier and competitively priced.

AML / KYC

Taiwan to Set New AML/CFT Rules for Accountants

01/10/2020

Accountants will not be allowed to establish business relationships or conduct transactions with clients until their identities and actual beneficiaries are verified.

Securities / Derivatives

SEBI Orders Faster Liquidation of Defaulting Brokers’ Assets

01/10/2020

Stock exchanges and clearing corporations should sell brokers’ securities if debit balances are not cleared in 5 days, and to sell other broker assets six months after the default.