News

False statements and disclosure issues fuel Scotiabank’s market manipulation settlements

US authorities have slapped Canada’s Scotiabank with harsh penalties in a market manipulation case, in part because of its failure to reveal the full extent of wrongdoing when voluntarily disclosing the matter.

02 September 2020

US regulators pave way for higher capital distributions despite dissent

US banking regulators have finalised a measure allowing banks to make higher capital distributions under stressed financial conditions, over the objections of the minority members of the Federal Reserve and FDIC boards.

28 August 2020

UK PRA revisits pandemic measures

The UK’s Prudential Regulation Authority will terminate a counter-cyclical emergency capital requirements policy adopted at the outset of the pandemic, while issuing new guidance on the treatment of deferrals under the IFRS 9 accounting standard.

28 August 2020

Latvia ramps up AML push with fresh guidance

Latvia’s banking regulator has announced new anti-money laundering and counter-terrorism financing guidance, after fining local outfit Signet Bank €906,000 for AML failings.

26 August 2020

New Australian regulatory sandbox set to come online

Australia’s securities regulator has issued guidelines to assist with its new “enhanced” regulatory sandbox, which is set to come online next week.

26 August 2020

AI and machine learning – views from Hong Kong and the UK

Artificial intelligence and machine learning have rapidly grown in importance during the covid-19 pandemic, say speakers at a recent Bank of England webinar – but a report issued the same day by a group of Hong Kong regulators said new types of risk arising from the use of the technologies may require new types of macroprudential regulation.

24 August 2020

FSB guidance on CCP resolution risks uneven playing field, banks say

Financial institutions and industry groups have told the Financial Stability Board they need more detailed guidance on resolution for central counterparties (CCPs), warning that a lack of specific guidance could lead to “significant differences in CCP resolution regimes across jurisdictions”.

24 August 2020

Mexican regulator “overwhelmed” as Banco Famsa collapses

Mexico’s National Banking and Securities Commission (CNBV) has been “alarmingly” slow in responding to applications from new financial institutions and “lacks senior technocrats to answer the more complex questions”, as it takes heat over the collapse of domestic lender Banco Famsa.

21 August 2020

UK approves updated AML guidance

UK ministers have approved new anti-money laundering guidance with special provisions on crypto-asset exchange providers, custodian wallet providers and pooled client accounts.

21 August 2020

"No grey areas" around crypto as Germany introduces digital securities bill

Germany’s finance ministry has announced a blockchain-based digital securities bill as regulator Bafin confiscates ATMs belonging to a Polish-owned crypto provider.

19 August 2020

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