International

Enforcement

Philippine Prosecutors File Criminal Complaints Over Wirecard Fraud

By Ranamita Chakraborty | 09/06/2021

The criminal complaints accuse respondents of violating banking, cybercrime, and e-commerce laws as well as falsifying commercial documents.

ESG / Sustainability

TNFD Framework to Build Capacity for Nature-Related Data

By ESG Investor | 08/06/2021

Like the TCFD, the TNFD reporting framework is expected to be incorporated into disclosure standards and written into national law by governments.

Crypto / Digital Assets

G7 Leaders Pledge to Develop Common Principles for CBDCs

By Sanday Chongo Kabange | 07/06/2021

CBDCs should operate within appropriate privacy frameworks and minimise spillovers, the G7 Finance Ministers said in a communique.

Market Infrastructure

Standard-Setters Launch Plan to Improve Global Audit Quality

By Editors | 07/06/2021

Implementation of the plan will take three years and result in overall improvements to the international audit-related standard-setting system.

ESG / Sustainability

G7 Finance Ministers Agree on 15pc Global Minimum Tax Rate

By Manesh Samtani | 07/06/2021

The global minimum tax will end the race-to-the-bottom in corporate taxation and ensure fairness for the middle class and working people, Janet Yellen said.

Market Infrastructure

FSB, IOSCO Issue Statements in Support of Smooth LIBOR Transition

By Editors | 02/06/2021

The FSB warns against waiting for the development of forward-looking term RFRs. IOSCO urges market participants to stop issuing new LIBOR products.

Market Infrastructure

IHS Markit Starts Publishing New Credit-sensitive Rates

By Editors | 02/06/2021

The new rates are aimed at helping to facilitate the transition away from LIBOR for firms that want a term rate with credit sensitivity.

AML / KYC

Addressing Sanctions Risk in Maritime Trade

By Manesh Samtani | 02/06/2021

Banks facilitating transactions involving maritime trade must put in place systems and processes to detect illicit activity that could result in a breach of sanctions regulations.

Market Infrastructure

FSB Proposes Global Targets for Enhancing Cross-border Payments

By Editors | 01/06/2021

The FSB proposes quantitative targets for improving cost, speed, transparency and access for cross-border wholesale payments, retail payments and remittances.