INTERNATIONAL

Fintech / Regtech

FSB Flags Growing Risks of AI Adoption in Financial Services

By Thisanka Siripala | 19/11/2024

New FSB report identifies AI-related vulnerabilities in the financial sector that can potentially increase systemic risk.

Sanctions

Australian Court Upholds Sanctions Ruling in Alumina Dispute

By Editors | 18/11/2024

The judgment suggests that a sanctioned person can have a shareholding of far less than 50% in a company for it to be considered sanctioned.

Sanctions

OFAC Targets Syrian Group Funding Iran’s Quds Force, Houthis

By Editors | 18/11/2024

OFAC sanctions target 13 vessels and companies in Lebanon, Panama, Iran, and the Marshall Islands that own or manage the vessels.

Sanctions

OFAC Penalises MetLife Subsidiary for Violating Iran Sanctions

By Editors | 18/11/2024

The insurer issued group medical and life insurance policies, collected premiums, and paid claims to schools and entities in the UAE and owned by Iran’s government.

ESG / Sustainability

IOSCO Issues Final Report on Voluntary Carbon Markets

By Thisanka Siripala | 18/11/2024

The report outlines a set of 21 Good Practices aimed at ensuring financial integrity in Voluntary Carbon Markets.

Big Picture

FSB Urges Jurisdictions to Advance Bank Resolution Planning Efforts

By Manesh Samtani | 18/11/2024

The 2023 bank failures underscored that “any financial institution” could be systemically significant or critical if it fails.

Capital / Liquidity

IAIS Approved Final Version of Insurance Capital Standard

By Editors | 17/11/2024

The ICS aims to provide a globally comparable risk-based measure of capital adequacy of internationally active insurance groups.

ESG / Sustainability

NGFS Publishes First Report Focusing on Adaptation Finance

By Thisanka Siripala | 15/11/2024

The NGFS concurrently released a Synthesis Report on the Greening of the Financial System, seeking to provide a holistic and up-to-date view on the state of climate finance.

ESG / Sustainability

MAS Releases Interim Report from Transition Credits Coalition

By Nithya Subramanian | 15/11/2024

The report describes the issues involved in developing and applying transition credits, and sets out a framework to scale these credits for coal phaseouts.