International

FSB, BCBS, CPMI and IOSCO consultative document suggests some aspects of regulatory reform may not incentivise provision of client clearing services.

Countries must assess risk of human trafficking and laundering of its proceeds, and share this information with stakeholders; partnerships with private sector – financial institutions in particular – are key.

IOSCO believes volatility control mechanisms support the goal of ensuring markets are fair, efficient and transparent, thereby increasing market integrity and investor confidence.

New report by Oliver Wyman says firms should start developing new non-LIBOR products and managing down LIBOR exposures; those that do not act quickly in anticipation of the transition will increase risks and costs.

FATF says many countries not sufficiently investigating, prosecuting professional money launderers who provide third-party laundering services for a fee, often acting in a professional capacity also serving legitimate clients.

Directly fining banks for the misdeeds of former executives has proven to be unproductive. Yet, determining personal liability for individual bank officers continues to be an elusive and difficult task.

Pilot participants of SWIFT enhanced gpi standard include 10 multinational corporates and 12 banks; new standard to enable multinational firms to initiate and track gpi payments to and from banks in a single format and integrate payment flows with internal...

21 of 28 jurisdictions self-attest to full implementation of PFMI; South Korea' implementation gap relates to trade repositories, while Indonesia's relates to clearing and settlement systems.

FATF is actively monitoring crypto assets for AML/CTF risks and is reviewing its guidance and standards to determine if changes are needed to reflect their technical aspects.