The Bank of Botswana has released two circulars to address IFRS 9 requirements during the COVID-19 pandemic. The first circular is on Guidance on the Regulatory Treatment of IFRS
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Goldman Sachs to pay $1 million for violating CFTC’s record keeping requirements
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 -
US: Wells Fargo fined over $14 Million for swap requirements violation
The Commodity Futures Trading Commission (CFTC) has sanctioned Wells Fargo Bank, N.A. for violating swap dealer business conduct standards. CFTC noted that Wells Fargo failed to deal with a -
Isle of Man: Financial Services Authority amends AML/CFT Handbook
The Finacial Services Authority has amended the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Handbook. The regulator introduced the amendments partly to reflect the Financial Action Task -
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
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