AML / KYC

FinCEN to Tighten Rules on Beneficial Ownership, Real Estate Deals

09/12/2021

The proposed rules are aimed at protecting the US financial system from money laundering enabled by shell companies and all-cash real estate deals.

ESG / Sustainability

HKMA Shares ‘Sound Practices’ in Bank Climate Strategies

09/12/2021

Banks are “strongly encouraged” to enhance their green and sustainability programmes to encompass climate risk management and the sound practices.

Fintech / Regtech

DeFi Governance Structures Provide Entry Points for Regulators: BIS

07/12/2021

DeFi’s inherent governance structures would provide “natural entry points” for authorities to address issues related to financial stability, investor protection and illicit activities.

Market Infrastructure

Chinese Regulators Respond to Evergrande Default Fears

06/12/2021

Government officials have been dispatched to China Evergrande Group to form a risk management committee to oversee risk management and strengthen internal controls.

ESG / Sustainability

Taiwan Issues Climate Risk Disclosure Guidelines for Banks, Insurers

05/12/2021

The first disclosures are expected to be published by the end of June 2023, covering governance, strategy, risk management, and metrics and targets.

AML / KYC

Australian Parliament Approves Magnitsky-style Sanctions Law

05/12/2021

The legislation will allow Australia to address gross human rights violations, serious corruption, malicious cyber activity, among other themes.

Capital / Liquidity

CBIRC Issues Clarification on Close-out Netting Enforceability

02/12/2021

The CBIRC seeks to clarify the enforceability of close-out netting in China, saying the labelling of the country as a “non-netting jurisdiction” has harmed its financial institutions.

AML / KYC

Environmental Crime, A Global Security Issue

01/12/2021

Interpol’s Rory Corcoran says environmental crime is funding global terrorism and organised crime, while also impacting the sustainability agenda.

ESG / Sustainability

Hong Kong SFC Targets Adoption of Global ESG Standards

01/12/2021

Chairman Tim Lui says the SFC is currently evaluating ESG disclosures “much more closely” and looking for more ways to reduce opportunities for greenwashing.