Several EU banks may be purposefully compressing their balance sheets at year-end to lower their G-SIB scores and the associated capital surcharges.
The letters set out a framework for cooperation on regulatory, supervisory and enforcement matters in relation to credit rating agencies.
Where a financial services firm is part of a group, the guidelines provide that a group AML/CFT compliance officer be appointed at the parent company level.
The MoU provides a framework for cooperation between the SEC and CSSF with respect to promoting innovation in financial services.
Malaysia's SC has announced enforcement actions. Binance is winding down its derivatives business in Europe. India is probing its involvement in a betting probe.
Use cases for Term SONIA include trade finance, working capital products, Islamic finance, export finance, and emerging markets lending.
The report indicates that the risks were known, but responsible parties in the first and second lines simply failed to act.
The FCA will remove the presumption of suspension at the point when an acquisition target is identified, for SPACs that meet certain criteria.
A new EU-level AML authority will coordinate national authorities to ensure the private sector correctly and consistently applies EU rules.
Soon after the SFC's statement, Binance announced that stock tokens will no longer be available for purchase on its website.
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