AML / KYC

FATF Highlights Progress to Adopt AML Standards for Virtual Assets

08/07/2020

35 of 54 reporting jurisdictions have implemented the FATF Standards on virtual assets and VASPs, and progress has been made to develop technology for travel rule implementation.

ESG / Sustainability

HKMA Offers Guidance for Banks on Climate Risk Practices

08/07/2020

The HKMA has published its observations on the approaches used by major banks to manage climate risk, as guidance for the banking sector as a whole.

AML / KYC

Using Privacy Preserving Analysis to Tackle Financial Crime

07/07/2020

Privacy enhancing technologies, or PETs, may provide a “similar or, even, identical utility” compared to analysis of the raw data in some use-cases, says an FFIS paper.

Enforcement

S. Korean Regulators to Probe All Private Fund Operators

04/07/2020

A new inter-agency team, led by the FSS, will be established by mid-July, and refer any illegalities detected to authorities for ‘swift action’ including prosection.

Fintech / Regtech

BIS Innovation Hub Can Draw Lessons from GFIN

03/07/2020

As the BIS Innovation Hub widens its reach, success will rely on its ability to cultivate a supportive ecosystem which includes financial institutions and innovators alike.

ESG / Sustainability

HKMA Sets Out Principles for Supervisory Approach on Climate

01/07/2020

The HKMA expects the results of the industry greenness self-assessments in August 2020, which will inform its supervisory expectations ahead of a consultation next year.

Market Infrastructure

Covid-19 Liquidity Issues to Morph into Solvency Threat: BIS

30/06/2020

Once the acute illiquidity phase of the crisis passes and insolvency problems emerge, the onus of crisis management will shift from central banks to fiscal authorities.

AML / KYC

Hong Kong Autonomy Act Advances in US Congress

26/06/2020

Once signed into law, the Act will authorise the use of sanctions against individuals, entities and financial institutions in response to China’s new national security law for Hong Kong.

ESG / Sustainability

MAS Consults on Environmental Risk Management Guidelines for FIs

25/06/2020

The guidelines set out MAS’ supervisory expectations for banks, insurers and asset managers in their governance, risk management, and disclosure of environmental risk.