International

DeFi & Web3

OECD Assesses DeFi’s Role in ASEAN to Promote Financial Inclusion

By Manesh Samtani | 20/03/2024

Innovation associated with DeFi, provided in a regulated and compliant form, could offer possible financial inclusion benefits such as in MSME financing.

Reporting & Disclosures

EU Corporate Sustainability Due Diligence Directive Passes Key Committee

By Editors | 20/03/2024

Compared to the initial proposal, the number of companies in scope has been scaled back, and the financial industry is excluded, among other changes.

Climate Risk

Charting a New Course for Climate Risk Management

By Ranamita Chakraborty | 20/03/2024

The BCBS’ proposed Pillar 3 disclosure framework for climate-related financial risks highlights the need for broader consensus on such issues.

Climate Risk

BIS Demonstrates the Use of GenAI in Climate Risk Analysis

By Manesh Samtani | 20/03/2024

Project Gaia delivered a platform that can extract data from corporate climate-related disclosures and generate harmonised metrics, despite differences in disclosure frameworks.

Data Privacy

ECB, EBA Form Joint Committee to Streamline Bank Reporting

By Mark Johnston | 19/03/2024

The committee will create a common data dictionary, which will standardise concepts and definitions across new and existing reports.

Resolution & Recovery

FSB Updates Guidance on Operational Continuity in Resolution

By Manesh Samtani | 19/03/2024

A supplementary note was added to address today’s dependencies on third-party providers for critical shared services, and the digitalisation of such services.

Anti-Money Laundering

EU Commission Revises List of High Risk Third Countries

By Nithya Subramanian | 19/03/2024

Barbados, Gibraltar, Panama, Uganda and UAE have been removed from the list, while Kenya and Namibia were added.

PEPs & Sanctions

Microsoft, Amazon Suspend Russian Access to Cloud Products

By Editors | 18/03/2024

The move is a response to the EU’s 12th package of Russia sanctions, which prohibits companies from supplying enterprise or design software to companies in Russia.

Cybersecurity

Emerging Tech is Raising Cyber Risk in Financial Industry – Report

By Mark Johnston | 18/03/2024

A new IIF-McKinsey report offers a roadmap for mitigating cyber risks amidst the rapid adoption of emerging technologies in finance.