International

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    Operational Risk

    Only Two G-SIBs Are Fully Compliant with BCBS 239

    By Manesh Samtani | 29/11/2023

    BCBS report suggests supervisors should consider more forceful measures to incentivise compliance with the principles for effective risk data aggregation and reporting.

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    Cryptocurrency

    FSB Warns of Risks from Multi-function Crypto-Asset Intermediaries

    By Manesh Samtani | 29/11/2023

    The FSB calls for cross-border cooperation and enhanced information sharing to help regulate and supervise multi-function crypto-asset intermediaries operating globally.

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    PEPs & Sanctions

    OFSI Touts Success in UK Court over Russia Sanctions Licence

    By Editors | 29/11/2023

    OFSI blog post summarises an October 2023 decision upholding the agency’s power to deny licence requests under the UK Russia sanctions regulations.

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    Data Privacy

    OECD Issues Policy Paper on Open Finance Data Sharing

    By Mark Johnston | 28/11/2023

    The new paper analyses the potential impacts of data sharing frameworks in the financial sector and provides recommendations for their implementation.

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    Anti-Money Laundering

    13 FIUs Establish Task Force to Disrupt Terrorist Financing

    By Editors | 28/11/2023

    The FIUs including FinCEN, UKFIU, AUSTRAC, and NZFIU established the task force last month but is publicly recognising its formation now.

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    Emerging Prudential Risks

    FSB Publishes 2023 List of Global Systemically Important Banks

    By Editors | 28/11/2023

    The FSB added Bank of Communications to the G-SIBs list and removed Credit Suisse and UniCredit. Three banks moved to a higher capital buffer bucket.

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    Fraud, Scams & Cybercrime

    Montenegro Court Approves Extradition of Terra Founder

    By Mark Johnston | 27/11/2023

    The court said both South Korea and the US have met Montenegro’s legal requirements for Do Kwon’s extradition.

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    Nature & Biodiversity

    UNEP FI Launches Nature-related Guidance for Banks

    By ESG Investor | 24/11/2023

    The guidance aims to help banks align with the Global Biodiversity Framework and address nature and biodiversity loss.

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    Climate Risk

    IAIS Consults on Climate Risk Supervisory Guidance

    By ESG Investor | 23/11/2023

    The consultation covers market conduct supervision and climate scenario analysis in the insurance sector.

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    Market Abuse

    EU Commission Fines Rabobank for Participating in Bond Trading Cartel

    By Editors | 23/11/2023

    Deutsche Bank also participated in the cartel but was not fined because it revealed the cartel to the Commission under its leniency programme.

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