International

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    Big Picture

    Compensation Must Be Aligned with Prudent Risk-Taking: FSB

    By Manesh Samtani | 22/11/2024

    New FSB report identifies legal and regulatory challenges associated with the use of compensation tools to promote prudent risk taking.

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    Fintech / Regtech

    Goldman Sachs to Make GS DAP Platform “Industry-owned”

    By Nithya Subramanian | 22/11/2024

    Goldman will establish a new, standalone company to spin out GS DAP so that it can be used by more participants to interoperate seamlessly.

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    Sanctions

    OFAC Sanctions Six Senior Hamas Officials and Financiers

    By Editors | 22/11/2024

    OFAC said the targets facilitate terrorist activities, represent Hamas interests abroad, and coordinate transfers of money and goods into Gaza.

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    Sanctions

    UK Announces Sanctions Over Indoctrination of Ukrainian Children

    By Editors | 21/11/2024

    The FCDO said around 6,000 Ukrainian children have been relocated to a network of re-education camps where they are subjected to indoctrination.

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    Enforcement

    OFAC Fines Individual $1.1m for Violating Iran Sanctions

    By Editors | 21/11/2024

    The violations related to the individual’s use of an IVTS to remit funds to Iran to purchase, renovate, and operate a hotel.

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    ESG / Sustainability

    BCBS Postpones Climate Risk Disclosure Framework for Banks

    By Thisanka Siripala | 21/11/2024

    The BCBS has been unable to finalise the Pillar 3 disclosure framework for climate-related financial risks because the US refuses to endorse it.

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    Fintech / Regtech

    EU and Singapore Strengthen Cooperation on AI Safety

    By Nithya Subramanian | 21/11/2024

    The US also launched the “International Network of AI Safety Institutes” to drive alignment and encourage safe, secure, and trustworthy AI innovation around the world.

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    Fintech / Regtech

    IAIS Publishes Paper on Supervision of AI in Insurance Sector

    By Editors | 21/11/2024

    The paper aims to support supervisors when applying the Insurance Core Principles to promote appropriate and globally consistent oversight of the use of AI within the insurance sector.

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    Capital / Liquidity

    BCBS Issues Work Update, Calls for Full Basel III Implementation

    By Editors | 21/11/2024

    Next month BCBS will publish the final CCR guidelines, a report on the CCyB, and Korea’s NSFR and large exposures assessment reports.

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    Enforcement

    US Finalises Rule to Expand Enforcement Authorities of CFIUS

    By Editors | 20/11/2024

    The final rule increases penalties for violations and expands the types of information CFIUS can demand from transacting parties and third parties.

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