International

AML / KYC

ISDA AGM Highlights Global Scrutiny of Crypto Sector

By Manesh Samtani | 14/05/2022

Senior officials from the FSB, Basel Committee, US SEC, and CFTC spoke at ISDA’s AGM about the need for more regulation in the crypto sector.

Market Infrastructure

CPMI Advances Work on Enhancing Cross-border Payments

By Editors | 13/05/2022

A final report has been issued on extending RTGS operating hours, and another offering a framework for jurisdictions to self-assess payment system access.

AML / KYC

Countries Should Ensure Capital Controls Cover Crypto: IMF

By Editors | 12/05/2022

A new IMF paper calls on policymakers to preserve the effectiveness of capital controls by clarifying the legal status of crypto assets.

AML / KYC

Wolfsberg Group Offers Guidance on Adverse Media Screening

By Editors | 12/05/2022

New FAQs highlight the need for FIs to understand how vendors evaluate data source reliability and the controls they have in place address unreliable sources.

Fintech / Regtech

TerraUSD Collapse Highlights Need for Stablecoin Regulation: Yellen

By Manesh Samtani | 12/05/2022

The world’s fourth largest stablecoin lost its peg this week, trading as low as 23 cents to the dollar on Wednesday.

Fintech / Regtech

IMF Explores Impact of Digital Money on Central Bank Operations

By Editors | 11/05/2022

The paper explores how CBDCs and stablecoins could impact the interest rate channel, monetary policy and central bank operations.

Enforcement

Cum-Ex Scandal Widens like a Regulatory Inquisition 

By Peter Guy | 10/05/2022

A common tax arbitrage trading strategy is now being prosecuted as outright tax avoidance, catching global banks and traders in a broad net.

Fintech / Regtech

90pc of Central Banks Are Exploring a CBDC, BIS Finds

By Editors | 10/05/2022

More than a third of central banks will soon have legal authority to issue a CBDC. More than two thirds are likely to launch a retail CBDC in the short or medium term.

Big Picture

Out-of-Court SME Restructuring Protects Financial Stability: FSB

By Manesh Samtani | 10/05/2022

Jurisdictions should assess their out-of-court corporate debt workout frameworks and reduce barriers to access for SMEs experiencing corporate stress.