International

NGFS Appoints Ravi Menon to Serve as New Chair

By Mark Johnston | 18/01/2022

Menon will serve a two-year term as chair of the NGFS, succeeding the ECB’s Frank Elderson. Deutsche Bundesbank’s Sabine Mauderer will serve as vice-chair.

AML / KYC

US Issues Sanctions Over DPRK Ballistic Missile Launches

By Editors | 18/01/2022

The sanctions target six North Koreans, one Russian and a Russian firm were responsible for procuring goods for North Korean weapons programmes.

Enforcement

IOSCO Proposes Measures to Address Risks from Online Marketing

By Manesh Samtani | 18/01/2022

IOSCO proposes policy and enforcement measures to address risks in online marketing and distribution of financial products to retail investors.

AML / KYC

Crime Becoming Smaller Part of Crypto Ecosystem: Report

By Manesh Samtani | 17/01/2022

Chainalysis estimates that illicit wallet addresses received $14bn throughout 2021, but this represented just 0.15% of total transaction volumes in crypto during the year.

Big Picture

IOSCO Outlines Pandemic Lessons on Operational Resilience

By Editors | 14/01/2022

The pandemic highlighted that greater automation of compliance and supervisory processes may better accommodate a remote workforce.

Big Picture

FRTB Will Turn Banks Away from Fund Investment Activity

By Manesh Samtani | 13/01/2022

The FRTB treatment of equity investments in funds is “excessively conservative” and could prompt banks to reduce their activity in the sector, ultimately weakening the market.

Big Picture

Policy Reforms Needed for Platform-based Financial Services: BIS

By Sanday Chongo Kabange | 13/01/2022

A BIS paper says platform-based business models can lower costs and aid financial inclusion, but they can also give rise to digital monopolies and oligopolies.

Crypto / Digital Assets

BIS, SNB, SIX Complete wCBDC Integration Test with Bank Systems

By Editors | 13/01/2022

In the second phase of Project Helvetia, a wholesale CBDC was used to test settlement of interbank, monetary policy and cross-border transactions with banking systems.

Big Picture

WEF Calls for Global Coordination to Address Emerging Risks

By Sanday Chongo Kabange | 12/01/2022

The climate crisis, growing social divides, heightened cyber risks, an uneven global recovery and competition in space were cited as key risks.