Slow implementation of travel rule requirements is acting as a disincentive to VASPs to invest in the necessary technology and compliance infrastructure.
An AML risk information sharing platform in trial operation in China allows FIs to check whether a customer is labelled high risk by other FIs without any customer data being exchanged.
Implementation of the Common Domain Model for repo and bonds is expected to deliver industry wide efficiency gains, ICMA says.
While the use of innovative AML/CFT technologies can help identify risks and focus compliance efforts, manual review and human input remain "very important".
The OECD says significantly fewer companies are using public equity markets, but that strengthening corporate governance policies and frameworks can help.
Most FIs focus their AML/CTF risk assessments on technical compliance rather than government priorities and effectiveness, the Wolfsberg Group says.
Recommendations for securities regulators cover asset manager practices, product disclosure, supervision and enforcement, terminology, and investor education.
The global minimum corporate income tax is estimated to generate around $150bn in additional global tax revenues annually.
Harvard Business School, Impact Institute, ABN AMRO, Danske Bank, DBS and UBS aim to create new social and environmental impact reporting rules for banks.
The launch of the new registry comes ahead of the scheduled publishing of the ISO standard in Q3 2021, to meet urgent industry and regulatory needs.
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