International

Conduct, Culture & Accountability

Five Steps to Address E-Comms Risk and Avoid Regulatory Penalties

By Rupal Patel | 22/12/2022

The industry is playing catch up with the impact of working from home and must ensure e-comms risk is managed in a better way, says Rupal Patel at Acin.

PEPs & Sanctions

Canada to Seize Russian Assets to Finance Ukraine

By Editors | 22/12/2022

Canada will attempt to seize assets from a company owned by sanctioned Russian oligarch Roman Abramovich, and use the proceeds for Ukraine’s reconstruction.

Cryptocurrency

Audit Firms Are Exiting Relationships with Crypto Clients

By Mark Johnston | 21/12/2022

Mazars and Armanino have stopped serving clients in the crypto sector. BDO is reconsidering its approach to the sector.

Cryptocurrency

FTX Seeks Court Authorisation to Sell Four Businesses

By Editors | 21/12/2022

Embed, LedgerX, FTX Japan and FTX Europe have maintained segregated customer accounts and have solvent balance sheets.

Reporting & Disclosures

Nature is Integral to Sustainability Reporting – ISSB

By ESG Investor | 20/12/2022

ISSB disclosure rules will reflect the connection between climate and nature, Chair Emmanuel Faber said at COP15 on Finance and Biodiversity Day.

Anti-Money Laundering

IDAXA to Develop Global AML Standards for Crypto Industry

By Editors | 20/12/2022

IDAXA has launched a new working group, chaired by former policymaker Andrew Churchill, to propose globally harmonised AML/CFT standards for virtual asset service providers and regulators.

Structural Regulation

EU Council Agrees to Implement Global Minimum Tax

By Editors | 19/12/2022

The 15% corporate minimum tax rate is expected to be transposed into EU wide rules by end-2023 and prompt other countries to speed up efforts to implement the measure.

Emerging Prudential Risks

Systemic Risk Scores in Global Insurance Sector Are Rising: IAIS

By Mark Johnston | 19/12/2022

Higher systemic risk scores are driven by increased exposures to illiquid and difficult-to-value assets, OTC derivatives, repo transactions and other factors.

Trading & Investment

FSB Offers LIBOR Transition Update, Warns of ‘Residual Risks’

By Manesh Samtani | 19/12/2022

Regulators continue to express concerns that the use of Term SOFR and credit sensitive rates could draw away liquidity from the overnight SOFR derivatives markets.