International

AML / KYC

Inconsistent AML Approaches Cause Cross-border Payment Frictions

By Editors | 23/10/2021

The FATF says inconsistent implementation of AML/CFT requirements increases cost, reduces speed, limits access and reduces transparency in cross-border payments.

AML / KYC

US Signals More Balanced Approach to Sanctions Policy

By Manesh Samtani | 23/10/2021

The US will move to a sanctions policy that is more clearly linked to policy objectives and reduces harm caused to individuals and businesses.

Capital / Liquidity

Too Soon to Base Capital Requirements on Climate Scenarios

By ESG Investor | 21/10/2021

NGFS members do not yet envisage calibrating prudential policies such as capital requirements on the basis of climate scenario exercises.

AML / KYC

FATF Addresses Pandora Papers With New BO Requirements

By Manesh Samtani | 21/10/2021

The FATF proposes countries be required to assess the AML/CTF risks associated with foreign-created legal persons, and take steps to manage and mitigate them.

Securities / Derivatives

ISLA Publishes Clause Library, Taxonomy for Securities Lending

By Editors | 21/10/2021

ISLA collated clauses and variants used with master agreements and identified how firms configure and add to the standard provisions to create a set of common clauses.

Market Infrastructure

FSB Seek Global Harmonisation in Cyber Incident Reporting

By Editors | 20/10/2021

The FSB will promote convergence in cyber incident reporting by developing best practices, defining information to be shared, and creating common terminologies.

AML / KYC

Credit Suisse Settles Charges Over Mozambique ‘Secret Debt’

By Editors | 20/10/2021

Transactions that raised over $1bn were used to “perpetrate a hidden debt scheme”, pay kickbacks to investment bankers, and bribe government officials.

Market Infrastructure

BIS Outlines Principles for Designing Effective Taxonomies

By Sanday Chongo Kabange | 20/10/2021

The principles for sustainable finance taxonomies will facilitate comparability and interoperability across firms and markets, the BIS says.

ESG / Sustainability

Transition Guidance is “Fundamentally Important”, says FSA’s Ikeda

By ESG Investor | 19/10/2021

The FSA’s Satoshi Ikeda said the regulator is “eagerly pushing” for measures to enable more dynamic investing in low-carbon and zero-carbon technologies.