International

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    Resolution & Recovery

    FSB Outlines 2024 Progress on Resolution-related Work

    By Manesh Samtani | 07/12/2024

    In 2024, a new global standard for CCP resolution was finalised. The FSB has published its first list of insurers subject to resolution planning standards.

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    Anti-Bribery & Corruption

    DOJ Settles With McKinsey Over South Africa Bribery Scheme

    By Nithya Subramanian | 06/12/2024

    McKinsey will pay $122mn to resolve an investigation into bribes paid to South African officials to secure lucrative consulting contracts.

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    Reporting & Disclosures

    NZAOA Backs Mandatory Disclosure of Scope 3 Emissions

    By ESG Investor | 06/12/2024

    The UN-convened Net Zero Asset Owner Alliance said regulators should mandate corporate Scope 3 reporting and provide more guidance.

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    Anti-Money Laundering

    Canada’s FINTRAC Signs AML/CFT MoU with US Regulators

    By Thisanka Siripala | 06/12/2024

    The MoU will facilitate information exchange, best practice sharing, and coordination on illicit finance risks that affect both the Canadian and US financial systems.

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    Capital Adequacy

    IAIS Adopts Global Capital Standard for Insurance Industry

    By Editors | 06/12/2024

    The standard provides a risk-based measure of capital adequacy for internationally active insurance groups to ensure they can withstand potential stresses.

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    CBDCs

    BIS Paper Examines Choice Between Retail CBDC, FPS, or Both

    By Editors | 05/12/2024

    The choice depends on the market features, ecosystem, and degree of maturity and innovation of existing payment infrastructures in a country.

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    Anti-Money Laundering

    Former EU Justice Commissioner Investigated for Money Laundering

    By Nithya Subramanian | 05/12/2024

    Belgian police searched the homes of Didier Reynders amid allegations of laundering funds through lottery ticket purchases.

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    PEPs & Sanctions

    US, UK Target Major Russian Sanctions Evasion Network

    By Editors | 05/12/2024

    OFAC sanctioned five individuals and five entities associated with the network. The NCA said 84 arrests have been made and $25mn has been seized.

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    Market Data & Technology

    CME Group Launches Beta Term €STR Reference Rates

    By Editors | 05/12/2024

    The beta reference rates are based on a waterfall methodology that builds on €STR futures and OTC swap market data.

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    Emerging Prudential Risks

    FSB Plenary Meets in Hong Kong to Discuss Financial Stability Issues

    By Editors | 05/12/2024

    The Plenary reviewed policy work on climate-related financial risks, crypto-assets and global stablecoins, cross-border payments, and NBFI.

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