International

Anti-Money Laundering

FATF Consults on New Draft Guidance on Beneficial Ownership

By Editors | 03/11/2022

The FATF is consulting on draft guidance on Recommendation 24 and draft proposals to amend Recommendation 25 and its Interpretive Note until 6 December 2022.

Sustainable Finance

GFANZ Aims to Boost “Speed and Scope” of Net Zero Transition

By ESG Investor | 01/11/2022

Alongside the finalised transition framework for financial institutions, GFANZ issues updates on portfolio alignment metrics and policy levers.

Reporting & Disclosures

SFDR Level 2 – Implications for SFC Authorised UCITS Funds

By Alwyn Li | 31/10/2022

Alwyn Li and Vincci Ip discuss pre-contractual disclosure requirements for SFDR Article 8 and Article 9 funds and the relevant regulatory requirements in Hong Kong.

Climate Risk

GFANZ ‘Quiet Quits’ Race to Net Zero

By ESG Investor | 30/10/2022

The GFANZ 2022 progress report appeared to confirm the alliance’s intention to allow member groups to set their own path to net zero.

Payments & Settlements

EU Commission Proposes New Rules on Instant Payments

By Manesh Samtani | 30/10/2022

Banks would be required to offer instant payments at the same cost as other credit transfers. Instant euro payments may later be expanded internationally.

Reporting & Disclosures

Singapore to Host Platform to Unify Carbon Market Registry Data

By Editors | 29/10/2022

Climate Action Data Trust, or CAD Trust, will link, aggregate and harmonise all major carbon market registry data, and help with reporting under Article 6 of the Paris Agreement.

Anti-Money Laundering

Wolfsberg Group Updates Guidance on Correspondent Banking

By Editors | 28/10/2022

The updated Financial Crime Principles for Correspondent Banking includes guidance on what respondent banks may face when seeking a correspondent banking relationship.

Payments & Settlements

SWIFT Defers ISO 20022 Migration to March 2023

By Editors | 28/10/2022

The new start date is aligned with the ECB’s decision to delay the launch of T2. The new 20 March 2023 start date is “definitive”, SWIFT said.

Clearing & Post-Trade

Don’t Overlook the Value of LEI

By Joseph Capablanca | 28/10/2022

DTCC’s Joseph Capablanca discusses the importance of the LEI for improving transparency, cutting costs, and reducing operational risk in the global financial industry.