The Swiss Financial Market Supervisory Authority (FINMA) has published further guidance in response to the COVID-19 pandemic. The FINMA guidance informs supervised financial institutions about exemptions and clarifications related
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Malta: MFSA addresses ICT risk and cybersecurity
The Malta Financial Services Authority has issued the third volume of ‘The Nature and Art of Financial Supervision’ series, focusing on information and communications technology risk (ICT), and cybersecurity supervision. -
Banking: Recent Regulatory Developments
…a review of recent regulatory developments across the globe. REGULATORY CHANGES i) Canada: Advisory Committee on Open Banking The Government of Canada launched Advisory Committee on Open -
United Kingdom: PRA consults on outsourcing and third party risk management
The Prudential Regulation Authority (PRA) is inviting comments on its proposals to modernize the regulatory framework on outsourcing and third-party risk management. The proposals are outlined in the draft -
FSB and the IMF update on G20 Data Gaps Initiative
Financial Stability Board (FSB) and the International Monetary Fund (IMF) have updated on the implementation of the second phase of the G20 Data Gaps Initiative (DGI-2). Data gaps limit
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