International

Cryptocurrency

FSB Delivers Key Updates on Crypto, Climate to G20

By Manesh Samtani | 14/07/2023

The FSB said attention must now turn to implementation of its new crypto regulatory standards; Updated roadmap on climate risks is published.

Market Abuse

UK FCA Fines Bastion Capital Over Cum-Ex Trades

By Mark Johnston | 13/07/2023

The UK FCA imposed a GBP 2.45 million fine on a former broker that executed over GBP 70 billion worth of fraudulent trades.

Anti-Money Laundering

UAE Becomes First Arab Country to Join APG as Observer

By Mark Johnston | 13/07/2023

A delegation from the UAE participated as an observer in the APG forum in Vancouver earlier this month. Other observers include the UK, France, and Germany.

Fraud, Scams & Cybercrime

FFC Asia 2023: Professional AI Skills Needed in Financial Crime Fight

By Ranamita Chakraborty | 13/07/2023

Panellists at Regulation Asia’s Fraud and Financial Crime conference stressed the need to up-skill financial sector professionals so they can use AI in fighting financial crime.

CBDCs

BIS Releases Three Reports Covering Crypto, Stablecoins, CBDC

By Manesh Samtani | 13/07/2023

One report says explains why crypto assets are ill-suited to play a significant role in the monetary system. The other two discuss CBDC progress.

Reporting & Disclosures

ISSB to Absorb TCFD Monitoring Responsibilities from 2024

By ESG Investor | 13/07/2023

The ISSB welcomes the FSB’s request to transfer the TCFD’s monitoring responsibilities to the ISSB from 2024.

Climate Risk

ISDA Releases Climate Risk Assessment Framework for Trading Book

By Jill Wong | 13/07/2023

ISDA’s new framework extends the application of climate risk analysis which has so far been focused on the banking book to the trading book.

Anti-Money Laundering

EU Central Banks Making Progress in Money Laundering Fight

By Ranamita Chakraborty | 12/07/2023

The European Banking Authority (EBA) called upon EU central banks and financial regulators to do more to tackle money laundering/terrorist financing risk despite having made tangible progress through prudential supervision.

Emerging Prudential Risks

Collateral Use Can Introduce Financial Stability Risks: BIS Officials

By Manesh Samtani | 12/07/2023

Using collateral reduces incentives for borrower screening and monitoring and can undermine the safe haven status of government securities.