International

AML / KYC

Japan to Tighten Russia Sanctions, G7 Rejects Ruble Option

By Manesh Samtani | 30/03/2022

Japan to impose new requirements on crypto exchanges. G7 rejects Russian demand for gas payments in rubles. US to help EU reduce dependence on Russian energy.

AML / KYC

Wolfsberg Group Issues Guidance on Managing Customer Risk

By Manesh Samtani | 29/03/2022

FIs should consider building “more holistic” customer profiles, using additional identity attributes and ensuring they are alerted to changes in data points.

AML / KYC

GLEIF to Include Organisational Role Information in vLEI

By Editors | 29/03/2022

GLEIF says the new ISO 5009 standard facilitates a universal approach for including official organisational role information in digital ID credentials.

Market Infrastructure

NGFS Forms New Task Force to Address Nature-related Risks

By Manesh Samtani | 28/03/2022

The extent and severity of the physical and transition risks linked to biodiversity loss will be more difficult for the financial industry to assess than for climate change.

AML / KYC

US, Australia Impose Sanctions Over DPRK Missile Tests

By Manesh Samtani | 28/03/2022

The sanctions were imposed against Russian and North Korean entities and individuals over missile tests on 27 February, 5 March and 24 March.

Securities / Derivatives

Climate Impact X, Carbonplace Partner on Carbon Credit Trading

By Editors | 28/03/2022

The pilot will establish a framework for executing carbon credit transactions via Climate Impact X’s marketplace, with Carbonplace performing all settlements.

Fintech / Regtech

OECD Proposes Tax Reporting Framework for Crypto-assets

By Editors | 27/03/2022

The framework would require intermediaries to identify their customers and their tax jurisdictions, and then report their aggregate transaction values annually.

Fintech / Regtech

IOSCO Forms New Task Force Targeting DeFi Regulation

By Manesh Samtani | 26/03/2022

The task force, chaired by MAS assistant managing director Tuang Lee Lim, will help coordinate policy action to address the risks in DeFi.

AML / KYC

US Imposes Fresh Russia Sanctions, G7 Pledges to Block Gold Trades

By Manesh Samtani | 25/03/2022

The G7 and EU will prohibit gold-related transactions involving Russia and ramp up monitoring and information sharing to prevent Russian sanctions evasion.