Europe

Market Infrastructure

MAS Carries Out Cyber Resilience Exercise with French Regulators

By Editors | 19/06/2022

The joint exercise “fully confirmed” the ability of the MAS, BdF and ACPR to exchange and share information efficiently in times of crisis.

AML / KYC

EBA Finalises Guidance for AML/CFT Compliance Officers

By Editors | 19/06/2022

The guidelines comprehensively address, for the first time at the EU level, the whole AML/CFT governance set-up at financial institutions.

Capital / Liquidity

BOE Asks Major Banks to Improve Resolution Plans

By Editors | 17/06/2022

The BOE said it found shortcomings in resolution plans prepared by HSBC, Lloyds Banking Group and Standard Chartered.

AML / KYC

UK OFSI Gets Stronger Powers to Punish Sanctions Breaches

By Editors | 16/06/2022

OFSI will no longer have to prove a person had knowledge or reasonable cause to suspect they were in breach of sanctions to impose a civil penalty.

AML / KYC

US, UK to Jointly Promote Privacy-Enhancing Tech for AML

By Editors | 15/06/2022

The joint initiative will seek to accelerate the development of privacy-preserving federated learning solutions that can help to combat financial crime.

ESG / Sustainability

UK Proposes Climate Risk Requirements for Actuaries

By ESG Investor | 15/06/2022

The UK Financial Reporting Council proposes to require actuaries to include climate change and other ESG–related risks in the course of their work.

Market Infrastructure

UK-Singapore Digital Economy Agreement Enters Into Force

By Darien Choong | 15/06/2022

The agreement promotes cooperation on cross-border data flows, fintech, cybersecurity, and mutual recognition of digital identity systems.

Enforcement

UK FCA Places Credit Suisse on Regulatory Watchlist

By Editors | 14/06/2022

Credit Suisse was added to the FCA’s watchlist due to concerns that it was not doing enough to improve its culture, governance and risk controls.

AML / KYC

FATF Re-rates UK for Progress on Correspondent Banking

By Editors | 14/06/2022

The FATF also commends the UK for progress made to expand its FIU’s ability to conduct operational analysis.