INTERNATIONAL

Market Infrastructure

The New Normal: Conduct Risk & Personal Accountability

By Stephen Scott | 01/07/2020

Increasingly, leaders along all Three Lines of Defence are being held personally accountable for misconduct that takes place on their watch, says Stephen Scott at Starling.

Market Infrastructure

Covid-19 Liquidity Issues to Morph into Solvency Threat: BIS

By Manesh Samtani | 30/06/2020

Once the acute illiquidity phase of the crisis passes and insolvency problems emerge, the onus of crisis management will shift from central banks to fiscal authorities.

AML / KYC

FATF Progresses Key Initiatives at June 2020 Plenary

By Editors | 30/06/2020

The Plenary discussed progress on virtual assets, stablecoins, illegal wildlife trade, and work on an enhanced framework for mutual evaluations and follow-up.

Market Infrastructure

Industry Bodies Call on EU to Reform Benchmarks Regulation

By Editors | 30/06/2020

The majority of third-country benchmarks pose no systemic risk but could nevertheless be barred from use in the EU due to a costly and burdensome third-country benchmark regime.

AML / KYC

UPDATED – Wirecard Fraud: A Timeline of Events

By Editors | 30/06/2020

Wirecard has filed for insolvency amid multiple probes. BaFin faces scrutiny for mishandling clear red flags. EY faces lawsuits for failing to catch the improprieties earlier.

Big Picture

FSB Evaluates Efficacy of Too-big-to-fail Reforms

By Editors | 29/06/2020

The evaluation found that the TBTF reforms have made indeed banks more resilient and resolvable, but barriers to bank resolvability still need to be addressed.

Market Infrastructure

IOSCO Offers Guidance to Promote Deference Between Regulators

By Editors | 28/06/2020

IOSCO offers 11 good practices to help regulators establish and operate efficient deference processes, and mitigate the risk of market fragmentation.

Market Infrastructure

CPMI-IOSCO Describes Work Needed to Improve CCP Auctions

By Editors | 27/06/2020

CPMI and IOSCO have asked CCPs to address a number of issues related to default management auctions within 24 months.

Fintech / Regtech

IOSCO Drafts Guidance on Supervising AI/ML in Financial Markets

By Editors | 25/06/2020

IOSCO proposes six measures to assist members in creating appropriate regulatory frameworks to supervise market intermediaries and asset managers that use AI and ML.