Cryptocurrency

Australia: Senate Committee Rejects Andrew Bragg Crypto Bill

05/09/2023

The committee said consultations planned by the government are the most appropriate way to develop a regulatory framework for digital assets.

AI Risk & Governance

Fragility of Deep Learning Models May Present Systemic Risk: BOE

04/09/2023

New paper says the “underlying fragility” of deep learning frameworks used by FIs increases risks for individual firms and the financial system.

Structural Regulation

Japan FSA Revises OTC Derivatives Reporting Requirements

04/09/2023

The FSA is making changes to its guidelines to remove the “UPI” and “Delta” requirements from the 1 April 2024 go-live date.

Anti-Money Laundering

Cayman Islands Proposes Beneficial Ownership Transparency Bill

04/09/2023

Public access to the beneficial ownership register will be enabled, but only after there is clarity on the effect of the CJEU’s November 2022 ruling.

Liquidity Risk

PBOC Cuts FX Reserve Requirement, Eases Mortgage Policies

04/09/2023

The measures are part of efforts to support the economy, the property sector, and the Chinese yuan.

ESG Data

Korea Goes Live With ESG Ratings Best Practice Guidelines

01/09/2023

Three ESG rating agencies have adopted the guidelines, and launched a new self-regulatory body for Korea’s ESG evaluation market.

Anti-Money Laundering

MAS Offers New Guidance on BO Identification, Complex Structures

01/09/2023

MAS inspections found “executional lapses” in this area as a result of “weak oversight” and “lack of risk awareness and vigilance”.

Resolution & Recovery

HKMA Consults on New Resolution Planning Guidance

01/09/2023

The guidance focuses on the measures banks should have in place to ensure continuity of access to FMI services in a resolution scenario.

PEPs & Sanctions

MAS Issues Additional Guidance on Managing Sanctions Risk

31/08/2023

The guidance covers board and senior management responsibilities and the use of look-back reviews of past transactions.