AML / KYC

No Specific Customer Type is Automatically Higher Risk: US Agencies

09/07/2022

Banks should use a risk-based approach when managing customer risk, and not decline to provide banking services to entire categories of customers.

AML / KYC

GLEIF Launches vLEI Issuer Qualification Programme

07/07/2022

The vLEI is a digital version of the LEI which can be securely verified online against the source information held in GLEIF’s data repository.

Crypto / Digital Assets

Crypto Industry Seeks Public Sector Support on Sanctions Issues

06/07/2022

More than 15 million crypto addresses have been linked to criminal activity with a nexus in Russia, a new GDF report says.

AML / KYC

Puerto Rico Forces Closure of Bank Involved in Global Tax Probe

06/07/2022

Peter Schiff’s Euro Pacific Bank was forced to close over capital shortfall and regulatory violations. The bank has been at the centre of a global tax evasion probe.

Enforcement

Former Archegos Employee Sues Firm Over Deferred Bonuses

06/07/2022

Archegos employees were “coerced” to invest their bonus money into the firm through a deferred compensation plan, which evaporated when the company collapsed last March.

ESG / Sustainability

HKEX Announces New Collaboration to Develop Carbon Market

06/07/2022

HSBC, Standard Chartered, BNP Paribas, ANZ, ICBC, Bank of China and others will sit on a new council to help develop a Hong Kong-based international carbon market.

Crypto / Digital Assets

Crypto Hedge Fund Three Arrows Capital Files for Bankruptcy

05/07/2022

The bankruptcy filing came three days after Three Arrows entered into liquidation in the British Virgin Islands.

Market Infrastructure

ASIC Calls on Industry to Bolster Resilience to Market Outages

05/07/2022

Market participants should not delay broader planning and change programmes aimed at ensuring their resilience to market outages, ASIC says.

Capital / Liquidity

BCBS Issues New Consultation on Banks’ Cryptoasset Exposures

01/07/2022

Total bank exposures to Group 2 cryptossets would be capped at 1% of Tier 1 capital. Banks would be permitted to recognise hedging for certain Group 2 cryptoassets.