International

Fintech / Regtech

WEF Announces Global Consortium for Digital Currency Governance

By Editors | 28/01/2020

The consortium aims to address regulatory fragmentation and increase access to the financial system through innovative policy solutions for digital currencies.

S. Korea Regulatory Framework for Banks Deemed EU-Equivalent

By Editors | 24/01/2020

EU credit institutions can apply preferential risk weights to relevant exposures to entities located in Korea, effectively reducing the capital requirements associated with such exposures.

ESG / Sustainability

Refinitiv Launches ESG Data Initiative at WEF, Davos

By Editors | 23/01/2020

The Alliance aims to identify and consolidate the fundamental ESG and alternative data firms require to make sustainable investment decisions and positively contribute to the UN SDGs.

Fintech / Regtech

What FATF Recommendation 16 Means for the Crypto Industry

By Michael Ou | 22/01/2020

Implementing strict KYC processes to comply with the ‘travel rule’ may be costly, but it is a necessary sacrifice to build a stronger industry in the long-run, says Michael Ou at CoolBitX.

Fintech / Regtech

BIS, Six Central Banks to Jointly Explore CBDC Use Cases

By Editors | 22/01/2020

The group will assess CBDC use cases; economic, functional and technical design choices, including cross-border interoperability; and share knowledge on emerging technologies.

ESG / Sustainability

BIS Calls on Central Banks to Coordinate Action on Climate Change

By Manesh Samtani | 21/01/2020

Without coordinated action, a new global financial crisis triggered by climate change would render central banks and financial supervisors powerless.

Securities / Derivatives

IOSCO Issues Final Report Recommending UTC Time Stamping of Trades

By Editors | 20/01/2020

Trading venues and their participants should synchronise the clocks they use for timestamping reportable events with coordinated universal time (UTC), IOSCO says.

Market Infrastructure

NBFI Posing Financial Stability Risk Grows at Slower Pace: FSB

By Editors | 20/01/2020

Non-bank financial intermediation posing bank-like financial stability risks grew by 1.7% in 2018, significantly slower than the 2012-2017 average annual growth rate of 8.5%.

AML / KYC

Fighting Modern Slavery: What the Banking Sector Can Do to Help

By Matt Friedman | 17/01/2020

Many banks are retooling to include modern slavery as one of the issues they track within their existing AML protocols, says Matt Friedman, CEO of The Mekong Club.