The Central Bank of The Bahamas (Bank) proposes to liberalize exchange controls (EC) on residential property transactions (both purchases and sales) involving non-residents effective October 1, 2019. The EC
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New Zealand: Policy on banks’ reporting of breaches
The Reserve Bank of New Zealand has issued a policy on reporting and publication of breaches by banks, in an effort to improve transparency and market discipline. The policy -
Nigeria: Implementation of Cashless Policy
In a circular to all Deposit Money Banks in Nigeria, the Central Bank of Nigeria (CBN) has stated that charges will apply on cash deposits made in select states in -
COVID-19: Bank of Uganda issues credit relief measures to mitigate economic impacts
The Bank of Uganda has introduced credit relief measures to mitigate the adverse effects of the COVID-19 pandemic. The relief measures are also aimed at promoting financial and operational resilience -
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
November 19, 2019
Basel Committee consults on Pillar 3 disclosure templates
The Basel Committee on Banking Supervision has published two consultative documents related to Pillar 3 disclosure. The first document proposes a set of revised disclosure requirements related to the market risk framework finalized in January 2019. The second document consults on voluntary disclosure templates related to banks’ sovereign Other
November 19, 2019
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, 2019. Photo Credit: Paule_Knete from Pixabay Asia & South America
November 19, 2019
Ireland: Central Bank launches guidance on enforcement sanctions
The Central Bank of Ireland has published a new guide to sanctions imposed under the Administrative Sanctions Procedure (ASP) for the financial services sector. The ASP Sanctions Guidance increases transparency by providing greater clarity on the Central Bank’s general approach to sanctioning of firms and individuals. It also Europe
November 19, 2019
South Korea: Measures to strengthen investor protection
The Financial Services Commission and the Financial Supervisory Service have unveiled measures to strengthen investor protection regarding high-risk financial investment products. The measures come after recent derivatives-linked funds mis-selling cases in the country. They are aimed at enhancing consumer protection and maintaining stability in the financial system, without jeopardizing Asia & South America
November 19, 2019
Canada: FINTRAC updates its guidance on customer verification requirements
FINTRAC has updated its guidance on methods to verify the identity of an individual and confirm the existence of a corporation or an entity other than a corporation. The requirements to verify the identity of an individual and confirm the existence of a corporation or of an entity other than North America