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Market Infrastructure
Industry Bodies Call on EU to Reform Benchmarks Regulation
By Editors | 30/06/2020
The majority of third-country benchmarks pose no systemic risk but could nevertheless be barred from use in the EU due to a costly and burdensome third-country benchmark regime.
AML / KYC
UPDATED – Wirecard Fraud: A Timeline of Events
By Editors | 30/06/2020
Wirecard has filed for insolvency amid multiple probes. BaFin faces scrutiny for mishandling clear red flags. EY faces lawsuits for failing to catch the improprieties earlier.
Big Picture
FSB Evaluates Efficacy of Too-big-to-fail Reforms
By Editors | 29/06/2020
The evaluation found that the TBTF reforms have made indeed banks more resilient and resolvable, but barriers to bank resolvability still need to be addressed.
Market Infrastructure
IOSCO Offers Guidance to Promote Deference Between Regulators
By Editors | 28/06/2020
IOSCO offers 11 good practices to help regulators establish and operate efficient deference processes, and mitigate the risk of market fragmentation.
Market Infrastructure
CPMI-IOSCO Describes Work Needed to Improve CCP Auctions
By Editors | 27/06/2020
CPMI and IOSCO have asked CCPs to address a number of issues related to default management auctions within 24 months.
Fintech / Regtech
IOSCO Drafts Guidance on Supervising AI/ML in Financial Markets
By Editors | 25/06/2020
IOSCO proposes six measures to assist members in creating appropriate regulatory frameworks to supervise market intermediaries and asset managers that use AI and ML.
ESG / Sustainability
NGFS Publishes Scenarios for Climate Risk Assessments
By Editors | 25/06/2020
The publications on reference scenarios and monetary policy will allow NGFS members and the FIs they supervise to better identify, quantify and mitigate climate risks in the financial system.
AML / KYC
FATF Report Addresses ‘Global Threat’ of Illegal Wildlife Trade
By Manesh Samtani | 25/06/2020
The FATF calls for a coordinated response from public authorities, the private sector and civil society to identify and disrupt financial flows from illegal wildlife trade.
Market Infrastructure
Low-income Nations Make Progress on Sustainable Finance: SBN
By Editors | 25/06/2020
A study from the Sustainable Banking Network finds that sustainable finance has emerged as a pathway for low-income countries to de-risk investments and enable financial flows.
Fintech / Regtech
FMSB Issues Statement of Good Practice on Algo Trading
By Editors | 25/06/2020
The FICC Markets Standards Board sets out 10 Good Practice Statements for market participants and venue operators engaged in algorithmic trading in a new transparency draft.
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