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International
Reporting & Disclosures
EU Corporate Sustainability Due Diligence Directive Passes Key Committee
By Editors | 20/03/2024
Compared to the initial proposal, the number of companies in scope has been scaled back, and the financial industry is excluded, among other changes.
Climate Risk
Charting a New Course for Climate Risk Management
By Ranamita Chakraborty | 20/03/2024
The BCBS’ proposed Pillar 3 disclosure framework for climate-related financial risks highlights the need for broader consensus on such issues.
Climate Risk
BIS Demonstrates the Use of GenAI in Climate Risk Analysis
By Manesh Samtani | 20/03/2024
Project Gaia delivered a platform that can extract data from corporate climate-related disclosures and generate harmonised metrics, despite differences in disclosure frameworks.
Data Privacy
ECB, EBA Form Joint Committee to Streamline Bank Reporting
By Mark Johnston | 19/03/2024
The committee will create a common data dictionary, which will standardise concepts and definitions across new and existing reports.
Resolution & Recovery
FSB Updates Guidance on Operational Continuity in Resolution
By Manesh Samtani | 19/03/2024
A supplementary note was added to address today’s dependencies on third-party providers for critical shared services, and the digitalisation of such services.
Anti-Money Laundering
EU Commission Revises List of High Risk Third Countries
By Nithya Subramanian | 19/03/2024
Barbados, Gibraltar, Panama, Uganda and UAE have been removed from the list, while Kenya and Namibia were added.
PEPs & Sanctions
Microsoft, Amazon Suspend Russian Access to Cloud Products
By Editors | 18/03/2024
The move is a response to the EU’s 12th package of Russia sanctions, which prohibits companies from supplying enterprise or design software to companies in Russia.
Cybersecurity
Emerging Tech is Raising Cyber Risk in Financial Industry – Report
By Mark Johnston | 18/03/2024
A new IIF-McKinsey report offers a roadmap for mitigating cyber risks amidst the rapid adoption of emerging technologies in finance.
Reporting & Disclosures
UNDP, MAS, GLEIF Launch Whitepaper on Project Savannah
By Ranamita Chakraborty | 18/03/2024
The whitepaper details Project Savannah’s goals and strategy for empowering MSMEs in sustainability reporting through three key pillars.
Emerging Prudential Risks
BIS Paper Calls for Stronger Oversight of Non-bank Retail Lenders
By Mark Johnston | 17/03/2024
The paper proposes a three-pronged regulatory approach to help guide the prudential oversight of NBFI retail lenders and mitigate risks.
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