The Monetary Authority of Singapore has issued revised Technology Risk Management Guidelines (Guidelines). Intended to keep pace with emerging technologies and shifts in the cyber threat landscape, the Guidelines
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Mauritius: Financial Intelligence and Anti-Money Laundering Regulations 2019
The Ministry of Finance has published the Financial Intelligence and Anti-Money Laundering (Registration by Reporting Person) Regulations. Gazetted on November 9, 2019, the full details are available here. -
Central Bank of Egypt announces measures to offset the impact of COVID-19
The Central Bank of Egypt has introduced measures to offset the impact of COVID-19. These measures include: i) cutting interest rates; ii) deferring all credit dues for all customers -
European Central Bank consults on Climate-related and Environmental Risks
The European Central Bank (ECB) has issued a consultation on its draft Guide on Climate-related and Environmental Risks (Guide). Current prudential rules require European banks to identify, manage, and -
United States: New rule exempts RRE transactions of $400,000 or less from appraisal requirements
The Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have adopted a final rule that increases the threshold for residential real estate
June 2, 2020
South Africa publishes margin requirements for non-centrally cleared derivatives transactions
The Financial Sector Conduct Authority and the Prudential Authority have published a Joint Standard on Margin Requirements (Standard). The Standard prescribes margin requirements for non-centrally cleared derivatives transactions in South Africa. It will become effective at a date to be announced by the regulators. Additional details are available Africa
May 23, 2020
Report on Fintech Adoption in Hong Kong Banking Industry
The Hong Kong Institute for Monetary and Financial Research has published a report on Fintech penetration in Hong Kong. Titled “Fintech Adoption and Innovation in the Hong Kong Banking Industry,” the report explores the current landscape of Fintech development in the Hong Kong banking industry and how banks view Asia & South America
May 20, 2020
European Central Bank consults on Climate-related and Environmental Risks
The European Central Bank (ECB) has issued a consultation on its draft Guide on Climate-related and Environmental Risks (Guide). Current prudential rules require European banks to identify, manage, and disclose all material risks to which they are exposed. In this regard, the Guide explains how the ECB expects banks Europe
May 18, 2020
Singapore: Proposed regulatory approach for derivatives contracts on payment tokens
In November 2019, the Monetary Authority of Singapore (MAS) issued a consultation paper on proposed regulatory approach under the Securities and Futures Act (SFA) for derivatives contracts that reference payment tokens as underlying assets. Following stakeholders’ comments, the regulator has now published its feedback. On the proposal to Asia & South America
May 18, 2020
Norges Bank to implement a Framework for testing Cyber Resilience of Financial Institutions
The Central Bank of Norway (Norges Bank) and the Financial Supervisory Authority of Norway (Finanstilsynet) have announced plans to develop a framework to test the cyber resilience of Norwegian banks (Framework). The Framework, according to Norges Bank and Finanstilsynet, will build on the TIBER-EU framework designed by the European Europe