International

Conduct, Culture & Accountability

Compensation Must Be Aligned with Prudent Risk-Taking: FSB

By Manesh Samtani | 22/11/2024

New FSB report identifies legal and regulatory challenges associated with the use of compensation tools to promote prudent risk taking.

Tokenisation

Goldman Sachs to Make GS DAP Platform “Industry-owned”

By Nithya Subramanian | 22/11/2024

Goldman will establish a new, standalone company to spin out GS DAP so that it can be used by more participants to interoperate seamlessly.

PEPs & Sanctions

OFAC Sanctions Six Senior Hamas Officials and Financiers

By Editors | 22/11/2024

OFAC said the targets facilitate terrorist activities, represent Hamas interests abroad, and coordinate transfers of money and goods into Gaza.

PEPs & Sanctions

UK Announces Sanctions Over Indoctrination of Ukrainian Children

By Editors | 21/11/2024

The FCDO said around 6,000 Ukrainian children have been relocated to a network of re-education camps where they are subjected to indoctrination.

PEPs & Sanctions

OFAC Fines Individual $1.1m for Violating Iran Sanctions

By Editors | 21/11/2024

The violations related to the individual’s use of an IVTS to remit funds to Iran to purchase, renovate, and operate a hotel.

Reporting & Disclosures

BCBS Postpones Climate Risk Disclosure Framework for Banks

By Thisanka Siripala | 21/11/2024

The BCBS has been unable to finalise the Pillar 3 disclosure framework for climate-related financial risks because the US refuses to endorse it.

AI Risk & Governance

EU and Singapore Strengthen Cooperation on AI Safety

By Nithya Subramanian | 21/11/2024

The US also launched the “International Network of AI Safety Institutes” to drive alignment and encourage safe, secure, and trustworthy AI innovation around the world.

AI Risk & Governance

IAIS Publishes Paper on Supervision of AI in Insurance Sector

By Editors | 21/11/2024

The paper aims to support supervisors when applying the Insurance Core Principles to promote appropriate and globally consistent oversight of the use of AI within the insurance sector.

Capital Adequacy

BCBS Issues Work Update, Calls for Full Basel III Implementation

By Editors | 21/11/2024

Next month BCBS will publish the final CCR guidelines, a report on the CCyB, and Korea’s NSFR and large exposures assessment reports.