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AML / KYC
ISDA AGM Highlights Global Scrutiny of Crypto Sector
By Manesh Samtani | 14/05/2022
Senior officials from the FSB, Basel Committee, US SEC, and CFTC spoke at ISDA’s AGM about the need for more regulation in the crypto sector.
Market Infrastructure
CPMI Advances Work on Enhancing Cross-border Payments
By Editors | 13/05/2022
A final report has been issued on extending RTGS operating hours, and another offering a framework for jurisdictions to self-assess payment system access.
AML / KYC
Countries Should Ensure Capital Controls Cover Crypto: IMF
By Editors | 12/05/2022
A new IMF paper calls on policymakers to preserve the effectiveness of capital controls by clarifying the legal status of crypto assets.
AML / KYC
Wolfsberg Group Offers Guidance on Adverse Media Screening
By Editors | 12/05/2022
New FAQs highlight the need for FIs to understand how vendors evaluate data source reliability and the controls they have in place address unreliable sources.
Fintech / Regtech
TerraUSD Collapse Highlights Need for Stablecoin Regulation: Yellen
By Manesh Samtani | 12/05/2022
The world’s fourth largest stablecoin lost its peg this week, trading as low as 23 cents to the dollar on Wednesday.
Fintech / Regtech
IMF Explores Impact of Digital Money on Central Bank Operations
By Editors | 11/05/2022
The paper explores how CBDCs and stablecoins could impact the interest rate channel, monetary policy and central bank operations.
Enforcement
Cum-Ex Scandal Widens like a Regulatory Inquisition
By Peter Guy | 10/05/2022
A common tax arbitrage trading strategy is now being prosecuted as outright tax avoidance, catching global banks and traders in a broad net.
Fintech / Regtech
90pc of Central Banks Are Exploring a CBDC, BIS Finds
By Editors | 10/05/2022
More than a third of central banks will soon have legal authority to issue a CBDC. More than two thirds are likely to launch a retail CBDC in the short or medium term.
Big Picture
Out-of-Court SME Restructuring Protects Financial Stability: FSB
By Manesh Samtani | 10/05/2022
Jurisdictions should assess their out-of-court corporate debt workout frameworks and reduce barriers to access for SMEs experiencing corporate stress.
Big Picture
QR Code Payments Promote Credit Access for SMEs: BIS
By Sanday Chongo Kabange | 09/05/2022
QR payments allow the creation of a digital payment footprint that enables small firms to access credit from both big tech firms as well as banks.
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