INTERNATIONAL

Market Infrastructure

GFXC Issues Revised FX Global Code to Improve Transparency

By Manesh Samtani | 28/01/2025

The revisions promote transparency around the sharing of client-generated data and provide further guidance on controlling FX settlement risk

ESG / Sustainability

Bloomberg Philanthropies to Fund UN Climate Body After US Withdrawal

By Thisanka Siripala | 28/01/2025

Bloomberg Philanthropies and other US climate funders will fund the UNFCCC to offset the financial shortfall caused by the US withdrawal

Sanctions

UK, Canada Impose Sanctions on Belarus Over “Sham” Election

By Editors | 28/01/2025

The UK and Canada sanctioned those responsible for “human rights violations” and companies that support Russia’s war in Ukraine.

Sanctions

Russia Proposes Jail for Disclosure of Sanctions Circumvention Methods

By Editors | 27/01/2025

The draft law reportedly points to websites that disseminate leaked customs data and information in the media about logistics schemes for delivering sanctioned goods.

Australia, Malaysia Auditors Asked for Input on IFRS Agenda

By Thisanka Siripala | 27/01/2025

Financial reporting professionals in Australia and Malaysia are asked to help inform the IASB’s future work to improve the IFRS.

Sanctions

Russian Court Orders Raiffeisen to Pay €2b in Damages

By Editors | 26/01/2025

Russian lawmakers also working on legislation that will enable outright confiscation of assets belonging to any individual or company from an “unfriendly” country

Crypto / Digital Assets

US to Form Presidential Working Group on Digital Assets

By Manesh Samtani | 26/01/2025

The SEC also officially rescinded Staff Accounting Bulletin No 121, which made it more costly for firms to keep custody of digital assets on behalf of others.

Sanctions

US to Designate International Drug Cartels as Terrorist Organisations

By Editors | 25/01/2025

The US State Department will decide which cartels to designate. Three of Biden’s sanctions-related executive actions were rescinded.

Crypto / Digital Assets

FSB Publishes Work Programme for the Year Ahead

By Manesh Samtani | 25/01/2025

The work programme highlights digitalisation, climate change, and the shifting macroeconomic environment as key priorities