International

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.