INTERNATIONAL

AML / KYC

Global AML Reforms Need to Be More Ambitious

By Che Sidanius | 21/09/2020

The European Commission is taking decisive action to fight financial crime by reforming its AML rules and enforcement mechanism, writes Refinitiv’s Che Sidanius.

Securities / Derivatives

BIS Report Proposes Carbon Intensity-based Rating System

By Manesh Samtani | 20/09/2020

A new report proposes a system for labelling issuers for firm-level greenness based on carbon intensity, the ratio of carbon emissions to revenue.

Big Picture

Firms Lagging in Preparations for UMR Compliance: Survey

By Manesh Samtani | 19/09/2020

State Street found that 19% of Phase 5 and 6 firms are fully prepared for UMR compliance. Hedge funds are said to be the least prepared for compliance.

Enforcement

Wirecard: The Biggest FinTech Success and Failure Story of All Time

By Oonagh van den Berg | 17/09/2020

Wirecard will be a compliance and audit training reference point for years to come, says compliance expert Oonagh van den Berg, recounting the warning signs in the years-long lead up to its collapse.

AML / KYC

SWIFT Announces Enhancements in Payments, Securities Processing

By Editors | 17/09/2020

The enhancements will be made available through a next-generation digital platform that will “fundamentally transform” payments and securities processing, SWIFT says.

Big Picture

Markets Must Remain Open, Transparent if Volatility Returns: WFE

By Manesh Samtani | 17/09/2020

Under no circumstances should restrictions on trading be invoked because of increased volatility, the WFE says in a guidance note.

Market Infrastructure

Data Governance: Avoid the Damage of Data Restriction

By Julia Walker | 16/09/2020

Everledger’s Leanne Kemp and Refinitiv’s Julia Walker set out the urgent case for cross-border data flow, including to channel finance to sustainable investments.

Capital / Liquidity

ISDA, CCDC to Promote Global Use of China Bonds as Collateral

By Editors | 15/09/2020

ISDA and the CCDC will soon publish research making the case for yuan-denominated bonds to be used internationally as collateral.

AML / KYC

FATF Details Virtual Asset Red Flags for Detecting Criminal Activity

By Editors | 15/09/2020

This report will help VASPs, FIs, DNFBPs, and other reporting entities detect and report suspicious transactions, and national authorities detect criminal activity.