FCA requests delay to forthcoming announcement of preliminary financial accounts
The Coronavirus crisis is impacting firms' ability to give due consideration to disclosures.
Regulation & Tax
Swedbank money laundering case: Bank accepts Clifford Chance report
The law firm was retained in 2019 to investigate the bank's AML work.
World Federation of Exchanges weighs in on EU’s digital resilience consultation
The group has suggestions to enhance operational resilience and to improve practices across the financial services sector.
US Senators join call for OECD to ‘align with GRI Tax Standard’
The OECD's review of BEPS is attracting groups around the world to push for public reporting.
New regulations in the US fuel the spread of transaction cost analysis
Greenwich Associates research shows just 10% of US asset managers have a TCA specialist, compared to 25% in Europe.
SWIFT ISO 20022 adoption for cross-border payments pushed back
The original lead migration deadline of November 2021 has been delayed until the end of 2022.
ICC launches Digital Trade Standards Initiative
The initiative aims to facilitate interoperability among the variety of new blockchain-based networks and trade platforms.
Broadridge completes acquisition of FundsLibrary
The firm says the acquisition will help asset managers meet UK and EU regulatory requirements.
Dynamic cash management discourse hits London
The ACT Cash Management Conference in London tomorrow will cover a range of critical treasury issues.
EBA shows banks’ progress in planning for failure, but issues remain
Report says banks should take advantage of positive market conditions to close €178bn shortfall.
ACI FMA partners with Axiom Global Advisors
The partnership intends to boost the industry-wide implementation of the FX Global Code.
OECD transfer pricing guidance on financial transactions has implications for treasury
The guidance addresses the transfer pricing of treasury functions, intra-group loans, cash pooling, hedging, and more.
US Treasury announces 2020 National Illicit Finance Strategy
Report identifies key illicit finance concerns for the US and establishes a roadmap to modernise the country's AML/CFT regime.
Compliance spending approaches its peak
Data from Greenwich Associates suggests financial service firms are looking to control costs though outsourcing.
EBA consults on revised guidelines on money laundering and terrorist financing risk factors
The updated guidelines take into account changes to the EU AML and CTF legal framework.
Singapore’s Payment Services Act comes into force
The Act is designed to enhance the regulatory framework for payment services in Singapore.
FCA and BoE forum to explore AI in financial services
The Financial Services AI Public Private Forum will explore means to support safe adoption of AI in financial services.
Open Banking held back by lack of trust among small firms
Federation of Small Businesses (FSB) figures show a majority of business owners ‘wary’ about sharing banking data electronically.
Call for clarification on e-money definition and related fraud reporting requirements
Current definitions don't match the market reality for European payment instruments and products.
Red Deer and Cappitech partner on MiFID II reporting
The two companies are also targeting best-execution monitoring and MAR compliance.
US and UK lead 2019’s US$8.14bn AML fines
Research from Encompass shows that annual AML fines nearly doubled compared to the previous year.
J.P. Morgan 2020 Business Leaders Outlook shows some optimism
Executives still see a bright future for business, but global complexity casts a shadow of uncertainty.
LIBOR transition in 2020: Act now!
The Bank of England has joined with other regulators to issue a call to action.
Rising global tax scrutiny highlights the case for change
GRI’s Tax Standard seeks to address the impact of corporate tax avoidance.