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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.
Securities / Derivatives
New Beijing Stock Exchange Prepares for Launch
By Darien Choong | 20/10/2021
More than 100 market participants participated in a second round of tests. The new exchange is expected to start trading as early as this month.
Market Infrastructure
BIS Outlines Principles for Designing Effective Taxonomies
By Sanday Chongo Kabange | 20/10/2021
The principles for sustainable finance taxonomies will facilitate comparability and interoperability across firms and markets, the BIS says.
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