International

Market Infrastructure

SWIFT Reports Near Doubling of Year-on-year gpi Traffic

By Editors | 03/03/2020

Nearly two-thirds of all payments traffic on SWIFT is now sent via gpi, with the majority of transactions credited to end beneficiaries within 30 minutes or less.

Big Picture

ASIFMA Calls for Global Coordination of Sustainability Efforts

By Manesh Samtani | 03/03/2020

Fragmented approaches to sustainable finance may ultimately undermine the development of sustainable finance through increased complexity and lack of coordination.

AML / KYC

AML Controls Are Ineffective at Stopping Crime, Says Policy Expert

By Manesh Samtani | 02/03/2020

Policy effectiveness expert Dr Ronald F Pol says the current anti-money laundering system only results in 0.1% of the proceeds of crime actually being seized.

Market Infrastructure

Cross-border Payments Front and Center in BIS Quarterly Review

By Editors | 02/03/2020

The BIS is exploring how to solve key shortcomings related to access and cross-border payments, including to address the global decline in correspondent banking.

AML / KYC

Financial Secrecy Index Ranks Hong Kong, Singapore in Top Five

By Manesh Samtani | 02/03/2020

The Tax Justice Network has released its 2020 rankings of jurisdictions according to their secrecy and the scale of their offshore financial activities.

AML / KYC

Financial Quarantine: Understanding FATF’s Call for Action on Iran

By Nick Turner | 02/03/2020

Nick Turner at Steptoe & Johnson explains the implications of the FATF’s recent decision to return Iran to its so-called ‘blacklist’.

Market Infrastructure

WFE: Exchanges, CCPs Implementing Advanced, Embedded ERM

By Editors | 01/03/2020

Market infrastructures – exchanges and CCPs – are implementing advanced and embedded enterprise risk management right across their organisations, the WFE says.

Market Infrastructure

ICMA Publishes High-Level Guidance on IBOR Transition

By Editors | 01/03/2020

The ‘Quick Guide’ provides a high-level overview of 11 key areas relating to the transition from IBORs (including LIBOR) to risk free rates in the international bond market.

Market Infrastructure

Trade Bodies Publish EMIR Reporting Best Practices Matrix

By Editors | 01/03/2020

The best practice matrix is aimed at providing an agreed and standardised market guide for firms to use to comply with EMIR trade reporting requirements.