International

AML / KYC

US Imposes Sanctions on 27 Iranian Entities, Individuals

By Editors | 22/09/2020

Any foreign FI that knowingly facilitates a significant transaction for the designated individuals or entities could be subject to US sanctions.

Securities / Derivatives

IOSCO Publishes Guidance on Debt Raising Conflicts of Interest

By Editors | 21/09/2020

The final guidance presents nine measures that address potential conflicts of interest and associated conduct risks when issuers are preparing to raise debt finance.

AML / KYC

FinCEN Files Reveal AML Failures at Global Banks

By Manesh Samtani | 21/09/2020

The trove of documents shows that the banks allowed $2tr to flow through the financial system despite having flagged the transactions as suspicious.

AML / KYC

Global AML Reforms Need to Be More Ambitious

By Che Sidanius | 21/09/2020

The European Commission is taking decisive action to fight financial crime by reforming its AML rules and enforcement mechanism, writes Refinitiv’s Che Sidanius.

Securities / Derivatives

BIS Report Proposes Carbon Intensity-based Rating System

By Manesh Samtani | 20/09/2020

A new report proposes a system for labelling issuers for firm-level greenness based on carbon intensity, the ratio of carbon emissions to revenue.

Big Picture

Firms Lagging in Preparations for UMR Compliance: Survey

By Manesh Samtani | 19/09/2020

State Street found that 19% of Phase 5 and 6 firms are fully prepared for UMR compliance. Hedge funds are said to be the least prepared for compliance.

Enforcement

Wirecard: The Biggest FinTech Success and Failure Story of All Time

By Oonagh van den Berg | 17/09/2020

Wirecard will be a compliance and audit training reference point for years to come, says compliance expert Oonagh van den Berg, recounting the warning signs in the years-long lead up to its collapse.

AML / KYC

SWIFT Announces Enhancements in Payments, Securities Processing

By Editors | 17/09/2020

The enhancements will be made available through a next-generation digital platform that will “fundamentally transform” payments and securities processing, SWIFT says.

Big Picture

Markets Must Remain Open, Transparent if Volatility Returns: WFE

By Manesh Samtani | 17/09/2020

Under no circumstances should restrictions on trading be invoked because of increased volatility, the WFE says in a guidance note.