International

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    Enforcement

    UK to Launch New Unit to Investigate Trade Sanctions Violations

    By Editors | 12/12/2023

    The Office of Trade Sanctions Implementation is expected to begin its civil enforcement activities sometime in early 2024, the UK government says.

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    Sanctions

    EU Expands Sanctions on Myanmar Junta and Supporters

    By Editors | 12/12/2023

    EU imposes asset freezes on four individuals and two companies in latest action against Myanmar’s military-led government.

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    Big Picture

    IMF to Expand AML/CFT Data Analytics Capabilities

    By Manesh Samtani | 11/12/2023

    The IMF plans to increase focus on assessing and mitigating the macro-economic impacts of illicit flows in the global financial system.

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    Fintech / Regtech

    European Lawmakers Reach Agreement on AI Regulation

    By Editors | 11/12/2023

    AI systems that pose minimal risk will not have to meet any specific obligations. High risk systems will have strict requirements. Systems that pose unacceptable risk will be banned.

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    Big Picture

    Geopolitical Risk Seen as Top Risk to Financial Industry in 2024

    By Editors | 08/12/2023

    As many as 47% of respondents cited geopolitical risk as the number one risk impacting the global financial system in 2024.

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    Market Infrastructure

    DSB Forms New Advisory Committee for ISIN, UPI Services

    By Editors | 07/12/2023

    The new committee will provide recommendations on governance matters related to the ISIN and UPI Services.

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    Market Infrastructure

    HSBC Trials Quantum Protection for AI-powered FX Trading

    By Sanday Chongo Kabange | 07/12/2023

    HSBC is using its own AI-powered tool to safeguard trades of any value from quantum attacks and other cyber risks.

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    ESG / Sustainability

    IFRS Foundation Offers Three New Commitments

    By Manesh Samtani | 07/12/2023

    Chair of the IFRS Foundation Trustees, Erkki Liikanen, declared each of the commitments given two years ago “fulfilled”.

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    ESG / Sustainability

    EMDE Body on Sustainable Finance Unveiled by China’s IFS

    By Editors | 07/12/2023

    The new body’s initial 42 members include HSBC, Standard Chartered Bank, Silk Road Fund and the CFA Institute.

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    AML / KYC

    Canada’s FINTRAC Fines RBC for STR Filing Failures

    By Editors | 06/12/2023

    RBC failed to submit STRs in some cases, submitted some STRs incorrectly, and did not keep written policies and procedures up-to-date.

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