International

Reporting & Disclosures

Malaysia Set to Consult on Local Use of ISSB Standards 

By Editors | 09/01/2024

A six-week public consultation will be launched next month to solicit views and feedback on implementing the ISSB standards.

Market Risk

New Margin Models Offer Improved Efficiency: FIA Analysis

By Ranamita Chakraborty | 09/01/2024

While offering capital efficiency benefits, VaR models pose challenges for CCPs due to their increased complexity and reduced transparency.

AI Risk & Governance

Large Language Models Can’t Yet be Used for ‘Highstakes’ Analysis: BIS

By Manesh Samtani | 06/01/2024

Current large language models like GPT-4 do not yet have the “rigorous reasoning abilities necessary for some core analytical activities”.

Clearing & Post-Trade

Early Testing Will Be Key to Derivatives Reporting Compliance

By Manesh Samtani | 04/01/2024

DTCC’s Chris Childs and Priya Kundamal say there is no replacement for early testing to ensure data and reporting systems are fit for purpose.

PEPs & Sanctions

US Threatens Foreign Banks with Sanctions over Russia Transactions

By Editors | 23/12/2023

New executive order authorises OFAC to sanction non-US banks for facilitating certain Russian transactions as US imposes new restrictions on Russian seafood and gold imports.

Anti-Money Laundering

Swiss Bank Exec Pleads Guilty to ‘Singapore Solution’ Tax Evasion Scheme

By Ranamita Chakraborty | 22/12/2023

Rolf Schnellmann and co-conspirators helped to fraudulently conceal the bank accounts, assets, and income of US taxpayer-clients.

Liquidity Risk

FSB, IOSCO Issue Guidance to Address Liquidity Mismatch in Funds

By Manesh Samtani | 21/12/2023

The FSB recommendations and IOSCO guidance aim to strengthen liquidity management by managers of open-ended funds.

Sustainable Finance

Global Consortium to Set-up Circular Tokenised Sustainable Impact Fund

By Nithya Subramanian | 20/12/2023

The SEE fund will be an auditable SDG-focussed fund with an embedded penalty mechanism built into its governance structure.

Fraud, Scams & Cybercrime

INTERPOL: $300m in Assets Seized in Latest HAECHI Operation

By Mark Johnston | 20/12/2023

The latest HAECHI operation resulted in nearly 3,500 arrests and the blocking of over 82,000 bank accounts linked to cyber-enabled scams.