US federal agencies have proposed to change the swap margin rules to facilitate the implementation of prudent risk management strategies at certain banks and swap entities. The swap margin rule
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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 -
Bank of England proposes data reforms across the UK financial sector
The Bank of England has published a discussion paper, “Transforming data collection from the UK financial sector.” The paper is aimed at improving the timeliness and effectiveness of data -
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, -
Managing climate-related risks in Canada
Earlier today, Ben Gully, Assistant Superintendent (Regulation Sector) OSFI spoke to the work the prudential regulator is doing to create the basis for sound prudential decisions on climate-related risks.
January 25, 2021
Mauritius joins African Development Bank Bloomberg Bond Index
The African Development Bank has added Mauritius to its Bloomberg African Bond Indices (ABABI). The Bank of Mauritius (Bank) initiated actions to comply with the requirements for the inclusion of Mauritius onto the ABABI. The Bank worked on the implementation of Bloomberg’s Valuation Service curve for enhancing price discovery Africa
January 23, 2021
New reporting requirements: FINTRAC’s implementation delivery schedule
FINTRAC has published a delivery schedule for the implementation of new reporting obligations related to the amended Regulations that will come into force on June 1, 2021. The schedule involves two key streams: i) changes to FINTRAC’s and reporting entities’ information technology systems; and ii) drafting of over sixty North America
January 23, 2021
Nordic-Baltic countries engage the IMF on the region’s AML/CTF Risks
The Nordic-Baltic countries have requested the International Monetary Fund to analyze the most pertinent money laundering/terrorist financing (ML/TF) risks in the region. The request is due to the ML/TF threats and vulnerabilities in the region given the interconnectedness of the financial systems and, in particular, the many cross-border banking Europe
January 19, 2021
US Federal Regulators issue FAQs on AML Requirements
The US federal regulators have issued responses to Frequently Asked Questions regarding suspicious activity reporting and other AML considerations for financial institutions that are required to submit Suspicious Activity Reports. Further details are available here. Photo Credit: Pixabay North America