International

AML / KYC

Wolfsberg Group Outlines Steps to AML/CTF Effectiveness

By Manesh Samtani | 13/08/2020

FIs should consider adopting technology such as AI and machine learning more widely. The Wolfsberg Group “strongly encourages” participation in PPPs.

Market Infrastructure

StanChart to Move Core Systems to Cloud in 3 Years

By Editors | 12/08/2020

Core banking and trading systems, and new digital ventures such as virtual banking and banking as-a-service, will be cloud-based by 2025 subject to regulatory approvals.

Securities / Derivatives

IOSCO Outlines Key Elements of Effective Market Making Programmes

By Editors | 11/08/2020

The key elements may help promote the provision of liquidity, strengthen investor confidence, and foster fair and efficient markets, IOSCO says.

Capital / Liquidity

Decisions on Exiting Regulatory Relief Present Financial Stability Risk

By Manesh Samtani | 11/08/2020

As long as regulatory relief measures remain in the prudential framework, credit risks will continue to mount on bank balance sheets, presenting risks to financial stability.

AML / KYC

Wolfsberg Group Issues Guidance on SoW, SoF Checks

By Editors | 09/08/2020

The guidance outlines instances where Source of Wealth and Source of Funds information may need to be independently corroborated, and what to do if relevant standards are not met.

Market Infrastructure

BCBS Proposes Principles to Promote Operational Resilience at Banks

By Manesh Samtani | 06/08/2020

The principles aim to increase bank resilience to operational risk shocks, such as those arising from pandemics, cyber incidents, technology failures and natural disasters.

AML / KYC

Interpol Reveals ‘Alarming Rate’ of Cyberattacks During Covid-19

By Editors | 04/08/2020

Interpol warns that a further increase in cybercrime is highly likely in the near future, citing vulnerabilities related to working from home.

Securities / Derivatives

Shadows of Crises Past: Margin Calls Strain Financial Markets

By Purtini Joshi | 04/08/2020

March and April volatility exposed operational inefficiencies for trading counterparties that have yet to automate their collateral management processes, says DTCC’s Purtini Joshi.

Big Picture

FMSB Publishes Spotlight Review on Market Surveillance

By Sanday Chongo Kabange | 04/08/2020

The Spotlight Review looks at current and future challenges that FICC market participants face in market surveillance and the impact of machine learning.