International

Climate Risk

IOSCO Issues Final Recommendations on Compliance Carbon Markets

By Editors | 18/07/2023

IOSCO’s final report sets out twelve key recommendations on establishing and enhancing compliance carbon markets, drawing from the experiences of traditional financial markets.

Anti-Money Laundering

EU Commission Takes Action Against Cyprus for 5AMLD Implementation Failures

By Editors | 18/07/2023

The European Commission says it has identified multiple instances of incorrect transposition of 5AMLD, despite Cyprus declaring full compliance with the directive.

Market Data & Technology

DSB Integrates UPI in OTC ISIN UAT Environment 

By Editors | 17/07/2023

Users of the OTC ISIN UAT environment can now develop and test changes to their systems to incorporate the UPI as part of the OTC ISIN record.

Stablecoins

Stablecoins Can Destabilise Financial Markets: NY Fed

By Jill Wong | 17/07/2023

A report by the Federal Reserve Bank of New York says the run on Terra shows how stablecoins can potentially destabilise financial markets and economies.

Fraud, Scams & Cybercrime

Lessons in Liability: Applying Card Fraud Dispute Frameworks to Digital Banking Scams

By Tim Dalgleish | 16/07/2023

Tim Dalgleish discusses the implications of new scam liability regulations, taking lessons from card fraud dispute frameworks.

Anti-Money Laundering

FFC Asia 2023: Industry Faces Challenges in Advancing Beneficial Ownership Transparency

By Ranamita Chakraborty | 14/07/2023

Panellists at Regulation Asia’s Fraud and Financial Crime Asia conference highlighted the need for improved availability and accuracy of beneficial ownership information.

Cryptocurrency

FSB Delivers Key Updates on Crypto, Climate to G20

By Manesh Samtani | 14/07/2023

The FSB said attention must now turn to implementation of its new crypto regulatory standards; Updated roadmap on climate risks is published.

Market Abuse

UK FCA Fines Bastion Capital Over Cum-Ex Trades

By Mark Johnston | 13/07/2023

The UK FCA imposed a GBP 2.45 million fine on a former broker that executed over GBP 70 billion worth of fraudulent trades.

Anti-Money Laundering

UAE Becomes First Arab Country to Join APG as Observer

By Mark Johnston | 13/07/2023

A delegation from the UAE participated as an observer in the APG forum in Vancouver earlier this month. Other observers include the UK, France, and Germany.