International

ESG / Sustainability

CFTC Report Warns of Systemic Risks from Climate Change

By Manesh Samtani | 10/09/2020

The report calls on financial regulators to move “urgently and decisively” to measure, understand, and address the risks climate change poses to the US financial system.

ESG / Sustainability

IOSCO to Harmonise Global ESG Disclosure Frameworks – Report

By Editors | 10/09/2020

A new IOSCO taskforce will work to identify commonalities across sustainability disclosure standards from across the world to develop principles-based guidelines.

Capital / Liquidity

ISDA Chief Urges Continued Work on Initial Margin Implementation

By Editors | 09/09/2020

Phase 5 implementation will be the most demanding phase yet, and firms will need to be ready well in advance to avoid a last-minute compliance bottleneck.

Fintech / Regtech

Mastercard Launches Virtual Testing Environment for CBDCs

By Editors | 09/09/2020

The platform enables the simulation of issuance, distribution and exchange of CBDCs between banks, financial service providers and consumers.

Securities / Derivatives

Industry Standards Needed for Measuring Execution Quality: FMSB

By Editors | 08/09/2020

Best practice principles will facilitate regulatory compliance and drive efficiencies in the measurement of execution quality, the FMSB says in a new spotlight review.

Capital / Liquidity

FSB Defers Haircut Standards for Securities Financing Transactions

By Editors | 08/09/2020

The extensions will help to ease operational burdens on banks, broker-dealers and regulators, allowing them to focus on Covid-19 related priorities.

ESG / Sustainability

NGFS Publishes Two-year Work Programme, New Charter

By Editors | 07/09/2020

A new NGFS workstream being created will identify missing data items needed for effective climate-related and environmental risk analysis.

AML / KYC

SWIFT Details How Cyber Criminals Encash Stolen Funds

By Editors | 03/09/2020

In a new report, SWIFT and BAE Systems reveal how cyber attackers launder money and ‘cash out’ following large-scale heists.

Market Infrastructure

Three Lines of Defense: Failed Promises & What Comes Next

By Erich Hoefer | 03/09/2020

The 3LoD model and its proposed successor, the Three Lines Model, need to account for social and behavioural drivers of misconduct to achieve their potential.