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Big Picture
BAFT Publishes Best Practice Paper on ISO 20022 Migration
By Ranamita Chakraborty | 16/01/2024
The whitepaper guides financial institutions, payment providers, and tech vendors in migrating or planning to migrate to the ISO 20022 standard.
AML / KYC
Crypto Firms Lead Surge in AML Fines: Report
By Mark Johnston | 15/01/2024
Fenergo’s annual report reveals a 57 per cent surge in penalties for non-compliance with financial regulations in 2023.
Sanctions
Better Enforcement Needed on Russia-related Export Controls
By Editors | 15/01/2024
New report calls for coalition authorities to address the role of third-country intermediaries in export controls circumvention schemes.
Big Picture
Teething Issues: OTC Derivatives Reporting Rewrites in APAC
By Manesh Samtani | 10/01/2024
The more challenging aspects of implementation involve jurisdiction-specific data fields, the UTI waterfall, UTI generation, and ISO 20022.
Big Picture
New Margin Models Offer Improved Efficiency: FIA Analysis
By Ranamita Chakraborty | 09/01/2024
While offering capital efficiency benefits, VaR models pose challenges for CCPs due to their increased complexity and reduced transparency.
Fintech / Regtech
Large Language Models Can’t Yet be Used for ‘Highstakes’ Analysis: BIS
By Manesh Samtani | 06/01/2024
Current large language models like GPT-4 do not yet have the “rigorous reasoning abilities necessary for some core analytical activities”.
Big Picture
Early Testing Will Be Key to Derivatives Reporting Compliance
By Manesh Samtani | 04/01/2024
DTCC’s Chris Childs and Priya Kundamal say there is no replacement for early testing to ensure data and reporting systems are fit for purpose.
ESG / Sustainability
HKMA Study Assesses Climate Risks of HK-domiciled Funds
By Sanday Chongo Kabange | 29/12/2023
The study found that the climate risk of HK-domiciled funds is “in line with funds domiciled in other Asia-Pacific economies.”
Big Picture
“No Threshold” Approach Way Forward for Beneficial Ownership Frameworks
By Ranamita Chakraborty | 27/12/2023
Experts recommend proper legal frameworks, comprehensive verification processes, and international cooperation, to improve the effectiveness of beneficial ownership systems.
ESG / Sustainability
HKMA Study: Climate Change Will Dampen Housing Prices
By Editors | 26/12/2023
The study finds that global warming and severe typhoons can meaningfully lower housing prices in Hong Kong in the long run.
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