Region: International

G20 report warns over Libor transition preparedness

A G20 survey of regulators’ plans for Libor transition has found half of respondents from non-Financial Stability Board member jurisdictions have no strategy for the transition – as the Bank for International Settlements and FSB urge regulators worldwide to cooperate ahead of the benchmark’s phasing-out.

10 July 2020

EU refers three states for AML non-implementation, as Basel guidelines revised

The European Commission is taking Austria, Belgium and the Netherlands to court over allegations they failed to properly implement the fourth anti-money laundering directive – as the Basel Committee introduces cooperation provisions to its AML/CFT guidelines.

06 July 2020

Covid-19 pushing CBDC development “into top gear”

The covid-19 pandemic is accelerating central banks’ development of their own digital currencies, senior figures in the Bank for International Settlements and Bank of England have said– as their counterparts in Canada, South Korea and Thailand all announce their own moves in the space.

19 June 2020

BIS and Bank of Russia make market infrastructure appointments

Russia’s central bank has created a new department to regulate market infrastructure providers, while the Bank for International Settlements has named Federal Reserve alum Tara Rice as the new head of its committee on payments and market infrastructures.

29 May 2020

BIS hires in Basel and Hong Kong

The Bank for International Settlements has hired a new deputy head of banking, and a head for its new innovation hub’s Hong Kong office.

22 May 2020

Community round-up: Bank of Japan names first female executive director

The Bank of Japan has named the first female executive director in its 138-year history, while UBS has hired a new China integration lead from Chinese regulator CBIRC, and the International Swaps and Derivatives Association has named two new directors to its board.

11 May 2020

Scaled-down Libra seeks FINMA approval

Facebook’s cryptocurrency project Libra has filed for regulatory approval in Switzerland – dropping plans for a Bitcoin-like permissionless system and adding a single-currency coin.

17 April 2020

Lack of uniformity hinders sustainability initiatives, IOSCO says

Efforts to create environmentally sustainable investment products are being hampered by greenwashing and a multiplicity of informal reporting frameworks, securities regulatory association IOSCO has said in a new report.

15 April 2020

Basel crypto-asset proposals criticised as “effectively prohibitive”

Respondents to the Basel Committee’s consultation on the prudential treatment of crypto-assets have warned that its draft proposals risk pushing banks out of the market altogether.

27 March 2020

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