International

The OECD says each jurisdiction should implement a national strategy to deal with lawyers, notaries, accountants, and FIs that facilitate tax evasion, bribery and corruption.

The FSB says it will produce an assessment of initial lessons learned from the pandemic and a report on the factors needed for an orderly unwinding of support measures.

The FATF has finalised guidance on risk-based supervision, terrorist financing, and arms trafficking, as well as draft guidance on proliferation financing, and virtual assets.

The project, now called ‘m-CBDC Bridge’, will seek the development of a prototype to facilitate real-time cross-border transactions using multiple CBDCs.

Participants will be asked to develop and showcase solutions that improve cross-border payments, using the ISO 20022 standard and APIs.

Many central banks have undertaken initiatives to develop big data platforms to facilitate storage and processing of large data sets, but progress has varied.

The update expands the scope of the standard beyond securities to include OTC derivatives, baskets, emission allowances and carbon credits.

The aim of the research is to provide evidence about the quality of disclosure provided by entities applying IFRS 9 and IFRS 15.

The update includes social risks in the categories to be considered as part of project evaluation and selection. Previously only environmental risks were included.

Government support measures played a “significant role” in alleviating the downward pressure on credit ratings, IOSCO found in its review.