International

Climate Risk

Verra Publishes New Draft Methodology for REDD Projects

By Editors | 20/04/2023

The updated draft comes after investigative journalists reported finding that most of Verra’s forest carbon offsets do not represent genuine carbon reductions.

Conduct, Culture & Accountability

Dubai: KPMG Ordered to Pay Investors Over Audit Violations

By Editors | 20/04/2023

The court said KPMG Lower Gulf committed “many violations” of international auditing standards and ordered the firm to pay investors $231mn.

Cybersecurity

Financial Sector Participating in Global Cyber Defence Exercise

By Editors | 20/04/2023

FS-ISAC member firms including Barclays, CME Group, Mastercard and Santander are participating in the so-called ‘Locked Shields’ exercise this year.

Payments & Settlements

BIS, BOE Unveil Findings from Payments Synchronisation Project

By Manesh Samtani | 19/04/2023

Project Meridian demonstrated the ability to synchronise property ownership transfer with payment settlement using central bank money.

Sustainable Finance

Climate Bonds Initiative Offers Firm-level Certification for SLBs

By ESG Investor | 19/04/2023

The expansion looks to recognise “appropriate ambition” on transition and bring all sectors “into the fold”.

Liquidity Risk

BCBS, FSB Consider Changes to Global Banking Rules

By Editors | 19/04/2023

Fitch Ratings says global standard-setters may adjust the existing prudential and resolution frameworks, potentially making IRRBB a Pillar 1 requirement.

Credit Risk

More Credit Downgrades Imminent Under Climate Change

By Hazel Ilango | 18/04/2023

Bond investors, including those who do not prioritize climate change mitigation, are unknowingly exposed to the increasing impact of climate-related credit risk.

Emerging Prudential Risks

BIS Paper Calls for Fiscal Reforms to Support Financial Stability

By Mark Johnston | 18/04/2023

A new BIS paper proposes policy measures to tackle the risks that arise from the link between fiscal policy and financial stability.

KYC & CDD

GDF Consults on Wolfsberg-style DDQ for VASPs

By Editors | 18/04/2023

The questionnaire is intended for use by VASPs and other financial institutions including banks for onboarding VASPs.