International

Capital Adequacy

BCBS to Consult on Capital Rules for Banks’ Crypto Exposures

By Manesh Samtani | 09/06/2021

The proposed consultation builds on an earlier paper which outlined an approach that would subject direct crypto exposures to full deductions from CET1 capital.

Fraud, Scams & Cybercrime

Philippine Prosecutors File Criminal Complaints Over Wirecard Fraud

By Ranamita Chakraborty | 09/06/2021

The criminal complaints accuse respondents of violating banking, cybercrime, and e-commerce laws as well as falsifying commercial documents.

Trading & Investment

CFTC Subcommittee Proposes Switch to SOFR for Interdealer Swaps

By Manesh Samtani | 09/06/2021

The ARRC said the change, proposed for 26 July, will allow it to formally recommend forward-looking SOFR term rates published by CME Group.

Nature & Biodiversity

TNFD Framework to Build Capacity for Nature-Related Data

By ESG Investor | 08/06/2021

Like the TCFD, the TNFD reporting framework is expected to be incorporated into disclosure standards and written into national law by governments.

Data Privacy

European Commission Proposes European Digital Identity Regulation

By Sanday Chongo Kabange | 08/06/2021

To expedite the initiative, the European Commission has issued a recommendation for member states to establish a common toolbox by September 2022.

CBDCs

G7 Leaders Pledge to Develop Common Principles for CBDCs

By Sanday Chongo Kabange | 07/06/2021

CBDCs should operate within appropriate privacy frameworks and minimise spillovers, the G7 Finance Ministers said in a communique.

Structural Regulation

Standard-Setters Launch Plan to Improve Global Audit Quality

By Editors | 07/06/2021

Implementation of the plan will take three years and result in overall improvements to the international audit-related standard-setting system.

Reporting & Disclosures

G7 Backs – but Looks Beyond – Mandatory Climate Disclosures

By ESG Investor | 07/06/2021

TCFD, IASB frameworks endorsed; communique also calls for progress on impact, nature-based and beneficial ownership reporting.

Reporting & Disclosures

G7 Finance Ministers Agree on 15pc Global Minimum Tax Rate

By Manesh Samtani | 07/06/2021

The global minimum tax will end the race-to-the-bottom in corporate taxation and ensure fairness for the middle class and working people, Janet Yellen said.