The U.S. Commodity Futures Trading Commission (CFTC) has fined Goldman Sachs & Co. LLC (Goldman) $1 Million. The penalty was over Goldman’s failure to make and keep certain audio
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Dubai: Proposals on money services businesses
The Dubai Financial Services Authority has released Consultation Paper No. 125 – Proposals for Money Services. Stakeholders are required to provide comments on the consultation paper by December 15, -
Australia: Regulator consults on further amendments to leverage ratio requirement
The Australian Prudential Regulation Authority (APRA) has released for consultation draft prudential standard on the leverage ratio requirement for authorised deposit-taking institutions. The consultation sets out APRA’s response to -
Most Recent Regulatory Interventions in the Banking Space
…a compilation of banking regulatory developments across the globe. September 5, 2017: 1. Switzerland: Financial Standard Board – Key Attributes of Effective Resolution Regimes for Financial Institutions -
United States: Financial regulators release accountability report on fintech initiatives
The Conference of State Bank Supervisors has published an accountability report on financial technology companies (fintechs) initiatives. The report outlines progress made on a series of initiatives to streamline
December 3, 2019
United States: Use of alternative data in credit underwriting
Four U.S. federal regulatory agencies have issued the “Interagency Statement on the Use of Alternative Data in Credit Underwriting.” Developed in response to a U.S. Government Accountability Office recommendation, the statement focuses on consumer protection implications of the use of alternative data in underwriting. Through the statement, the North America
December 2, 2019
Consumer Protection: Bank of Russia discusses draft law
The Bank of Russia has indicated that the protection of retail investors in the financial market needs to be enhanced. In moving this forward, the Bank recently discussed a draft law with stakeholders in the financial services industry. Further details on the draft law are available. Europe
December 2, 2019
South Korea: National Assembly approves financial consumer protection bill
The National Assembly of South Korea has approved a financial consumer protection bill for the country. The objective of the bill is to enhance the rights of financial consumers and improve the overall public trust in the financial industry. The bill is to become effective one year from Asia & South America
December 2, 2019
Basel Committee: Guiding principles to operationalize a sectoral countercyclical capital buffer
The Basel Committee on Banking Supervision (Committee) has published guiding principles to operationalize a sectoral countercyclical capital buffer (SCCyB). The SCCyB is a tool that can be used to complement the Basel III countercyclical capital buffer. While a bank’s additional capital requirements following the activation of the CCyB Other
December 2, 2019
Basel Committee proposes revisions to the CVA risk framework
The Basel Committee on Banking Supervision (Committee) has published a consultative document on revisions to the credit valuation adjustment (CVA) risk framework. The paper seeks the views of stakeholders on a set of limited adjustments to the CVA risk framework published in December 2017. The first set of Other