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Credit Risk
Japan FSA Issues Guidance on Preventing Archegos-style Incidents
By Sanday Chongo Kabange | 24/04/2022
Firms with securities businesses are expected to draw lessons from the shortcomings observed in the Archegos incident in order to foster a sound risk culture.
Cryptocurrency
Russia Finalises Bill to Give Crypto Legal Tender Status
By Sanday Chongo Kabange | 23/04/2022
The February version of the bill proposed to only allow crypto to be used as an investment vehicle. A digital ruble will be ready next year.
Anti-Money Laundering
FATF Vows ‘Swift and Decisive Action’ on Effectiveness
By Editors | 22/04/2022
The commitment includes action to promptly implement global beneficial ownership rules and increase countries’ capabilities to recover criminal assets.
Climate Risk
IMF Creates New Loan-Based Resilience and Sustainability Trust
By Sanday Chongo Kabange | 21/04/2022
The IMF’s new loan-based trust seeks to help lower middle-income countries deal with external shocks like climate change and pandemics.
PEPs & Sanctions
OFAC Sanctions Russian Crypto Miners, UK Targets Military
By Manesh Samtani | 21/04/2022
OFAC designated Russian crypto miners and a bank offering sanctions evasion services. The UK sanctioned Russian generals and others supporting the military.
Emerging Prudential Risks
FSB Warns of Emerging Vulnerabilities, Financial Stability Risks
By Manesh Samtani | 21/04/2022
Global financial stability cannot be taken for granted going forward, FSB Chair Klaas Knot said in a letter to G20 Finance Ministers and Central Bank Governors.
AI Risk & Governance
RegTech Adoption Requires Rethink of Regulatory Environment
By Sanday Chongo Kabange | 20/04/2022
New WEF paper outlines success factors for regtech adoption, a roadmap for implementation, and guidance on regulatory requirements.
Reporting & Disclosures
WFE Publishes Paper on Human Rights Disclosure Practices
By Editors | 19/04/2022
The paper addresses social washing concerns and offers guidance for exchanges on reporting against human-rights related reporting frameworks.
Anti-Money Laundering
Countries Must ‘Redouble Efforts’ to Fight Financial Crime: FATF
By Manesh Samtani | 19/04/2022
The FATF finds that countries have made “huge progress” in improving technical compliance, but many still face substantial challenges in taking effective action.
Emerging Prudential Risks
Growth of Fintechs, Neobanks Poses Systemic Risk: IMF
By Mark Johnston | 19/04/2022
Digital banks should have to meet stronger capital, liquidity, and risk-management requirements, commensurate with their risks.
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