MARKET INFRASTRUCTURE

ESG / Sustainability

New Zealand Passes Climate Reporting Legislation in World First

By Sanday Chongo Kabange | 24/10/2021

Mandatory climate disclosures will be required from early 2024, for annual reporting periods that start on or after 1 January 2023.

AML / KYC

Inconsistent AML Approaches Cause Cross-border Payment Frictions

By Editors | 23/10/2021

The FATF says inconsistent implementation of AML/CFT requirements increases cost, reduces speed, limits access and reduces transparency in cross-border payments.

Market Infrastructure

MAS Consults on Revisions to BCM Guidelines

By Manesh Samtani | 23/10/2021

The guidelines emphasise the need for FIs to take an end-to-end view in ensuring the continuous delivery of critical business services and functions.

Market Infrastructure

AFMA Calls for Removal of ‘LIBOR Cap’ Imposed on Foreign Banks

By Editors | 22/10/2021

AFMA is concerned that the LIBOR Cap will be replaced with a capping mechanism to be determined solely by the ATO.

ESG / Sustainability

UPDATED – Chinese Banks Declare Support for Biodiversity Protection

By Editors | 21/10/2021

36 Chinese banking and financial institutions, 24 foreign banks and international organisations have jointly signed a biodiversity protection declaration.

Market Infrastructure

US Regulators Publishes Guidance on ‘Orderly’ LIBOR Transition

By Sanday Chongo Kabange | 21/10/2021

A draw on an existing agreement that is legally enforceable, such as a committed credit facility, would not be viewed as a new contract.

Market Infrastructure

BSE India to Offer T+1 Settlement from 3 January 2022

By Sanday Chongo Kabange | 21/10/2021

BSE has told members and vendors to make necessary changes to their trading applications to ensure T+1 is supported.

Market Infrastructure

APRA Issues Updated Guidance on New Remuneration Standards

By Sanday Chongo Kabange | 21/10/2021

The guidance has been updated to align with the Financial Accountability Regime and provide additional examples of better practices to help entities transition smoothly.

Market Infrastructure

FSB Seek Global Harmonisation in Cyber Incident Reporting

By Editors | 20/10/2021

The FSB will promote convergence in cyber incident reporting by developing best practices, defining information to be shared, and creating common terminologies.