International

Reporting & Disclosures

OECD Updates Guidance on Responsible Business Conduct

By ESG Investor | 12/06/2023

The updates cover business conduct across climate change, biodiversity, technology, business integrity and supply chain due diligence.

Operational Risk

FMSB Publishes Spotlight Review on “3 Lines” Model

By Editors | 09/06/2023

The FMSB review calls for the 3 Lines Model to be repositioned as a lens for examining risk management frameworks.

Stablecoins

BIS Develops Smart Contract Prototype for SME Finance

By Editors | 09/06/2023

The prototype was developed as part of Project Dynamo, a collaboration between BIS Innovation Hub and HKMA to explore the use of digital tokens in supply chain finance for SMEs.

PEPs & Sanctions

Ukraine Calls on FATF to Add Russia to Blacklist

By Manesh Samtani | 09/06/2023

Ukraine says Russia has engaged in money laundering, sanctions evasion, terrorism financing, human trafficking, proliferation financing, and cyber-attacks.

Clearing & Post-Trade

OSTTRA Completes First Multilateral Conversions of SOR Currency Swaps

By Editors | 07/06/2023

DBS, OCBC and UOB participated in OSTTRA’s first multilateral conversion of USD/SGD swaps from SOR to SORA.

Conduct, Culture & Accountability

Banks Increasingly Expected to Prevent Misconduct – Report

By Manesh Samtani | 07/06/2023

New report from Starling says outcomes-based regulation, culture initiatives, data science and technology can help enhance culture and conduct risk management in the banking industry.

Fraud, Scams & Cybercrime

INTERPOL Issues Global Alert on Human Trafficking-Fueled Online Fraud

By Mark Johnston | 07/06/2023

INTERPOL warns of a “double-edged crime threat” that exploits victims of human trafficking as well as those forced to perpetrate online fraud.

Trading & Investment

CME Group Sees Opportunities in China Derivatives Market

By Manesh Samtani | 07/06/2023

CME Group’s Russell Beattie said meetings with Chinese exchanges, regulators and brokerage firms were “overwhelmingly positive”.

PEPs & Sanctions

OFAC Sanctions Chinese and HK Firms in Iranian Procurement Network

By Editors | 07/06/2023

The sanctions came the same day Iran unveiled its first hypersonic ballistic missile, which cannot be detected and tracked by existing sensor systems.