Capital Adequacy

FSB Evaluates Impact of G20 Reforms on Securitisation

03/07/2024

Risk retention and higher prudential requirements have enhanced the resilience of securitisation markets, the FSB says.

Fraud, Scams & Cybercrime

Nearly 4,000 Arrests Made in Global Anti-Scam Operation: INTERPOL

03/07/2024

The operation spanned 61 countries and resulted in 6,745 bank accounts being frozen and assets worth $257mn being seized.

PEPs & Sanctions

Chinese Banks Reducing CNY Trades on Moscow Exchange

03/07/2024

Yuan flows into Russia for oil sales to China are reportedly shifting from the exchange market to the OTC market.

Custody & Infrastructure

Canton Network Launches Decentralised Interoperability Infrastructure

02/07/2024

The “Global Synchronizer” enhances interoperability on the Canton Network, which is designed to enable tokenisation and frictionless exchange of regulated financial assets and liabilities.

Resolution & Recovery

UBS Completes Merger With Credit Suisse Swiss Unit

02/07/2024

Sabine Keller-Busse, President of UBS Switzerland said the completion of the Swiss entities’ merger marks an important milestone.

PEPs & Sanctions

UniCredit Seeking Clarity on ECB’s Russia Exit Orders

02/07/2024

The ECB ordered UniCredit in May to further speed up its withdrawal from Russia. The bank is seeking legal clarity on its obligations.

Fraud, Scams & Cybercrime

China: New Law Strengthens Penalties for Accounting Fraud

02/07/2024

The new Accounting Law significantly increases penalties for financial fraud and for the first time includes the phrase “internal control”.

Tokenisation

Trade Bodies to Develop Disclosure Guidelines for Digital Assets

02/07/2024

Four trade associations have organised a Steering Committee to propose new disclosure guidelines for digital asset tokens offered in the US.

Resolution & Recovery

APRA Identifies Recovery Planning Weaknesses at Super Funds

02/07/2024

APRA said improvements are needed to meet new recovery and exit planning requirements by 1 January 2025.