News

In the first significant change to its Bank Secrecy Act regulations in four years, US enforcement agency FinCEN has released proposals that would more explicitly define the statute’s requirements for “effective and reasonably designed” anti-money laundering programmes.

17 September 2020

Colombia’s banking regulator has become the first in Latin America to issue a regulatory framework for green bonds, as Brazil’s central bank has also pledged its backing.

17 September 2020

The prospect of an EU-wide AML regulation with direct effect moved a step closer this week, after the European Banking Authority backed the idea citing concerns over regulatory arbitrage.

15 September 2020

In a long-awaited development, the Monetary Authority of Singapore has published guidelines on senior managers’ conduct – firing the starting gun on a new phase of self-scrutiny for firms operating in the city-state.

10 September 2020

The covid-19 pandemic has pushed the Financial Stability Board to again extend the deadline for states to implement minimum haircut standards on non-centrally cleared securities financing transactions.

10 September 2020

Bank of England governor Andrew Bailey has urged caution on stablecoin initiatives, saying multi-currency ‘baskets’ are the “wrong place to start”.

08 September 2020

Goldman Sachs and Morgan Stanley’s capital requirements have been revised after the Federal Reserve admitted errors in its most recent stress tests.

08 September 2020

O’Melveny & Myers partner Stevan Bunnell has joined Facebook’s cryptocurrency project Libra as chief legal officer, while the European Securities and Markets Authority has nominated members for the central counterparties supervision committee formed under last year’s EMIR revision.

04 September 2020

The European Securities and Markets Authority (ESMA) has confirmed that aspects of the upcoming securitisation regulation will come online later this month, shortly after the EU delayed the entry into force of the Central Securities Depositories Regulation (CSDR) settlement discipline regime.

04 September 2020

US derivatives regulator the Commodity Futures Trading Commission has issued a trio of no-action letters ahead of next year’s Libor transition, in an attempt to encourage derivatives traders to amend their contracts, as the industry-led task force guiding the transition issued new recommended contractual language.

02 September 2020