Industry roundup: 23 December
by Graham Buck
SEC proposes further money market fund reforms; SWIFT eyes expansion into digital assets; US waiting game for cross-border payments and more
Regulation & Tax
U.S. Treasury Department and FinCEN fight against global corruption: New rule effective February 7, 2022
by Kylene Casanova
Effective in early 2022, shell companies will be required to report beneficial ownership information (BOI) details on who controls the company.
ECB updates oversight of electronic payments
by Graham Buck
Cryptocurrency services and stablecoins will come within the European Central Bank’s broader payments regulatory framework
Product recalls still high in Europe: Sedgwick
by Graham Buck
New and changing regulation, increased scrutiny of environmental and sustainability practices and widespread operational challenges are cited
OpenTreasury #7 - Feedzai’s RiskOps Platform, Singapore & Philippines Cross-Border Payments, and US Report on Regulating Stablecoins
by Kylene Casanova
Host Jack Large catches up with Craig Jeffery, Managing Partner of Strategic Treasurer, to discuss the latest treasury news and headlines.
Stablecoins need regulating, says US report
by Graham Buck
Operators of the digital tokens should be treated similarly to banks, according to regulators
FCA takes firms to task over greenwashing
by Graham Buck
Sustainability claims often don’t stand up to scrutiny, says the watchdog
US Treasury Secretary: 15% is minimum global corporation tax rate
by Graham Buck
Janet Yellen said the proposed new rate “works” and won’t be reconsidered
Industry roundup: 1 November
by Jack Large
AMEX business account; CDCS coverage and concerns grow; New tax rules; Commerzbank joins Tradeteq
Facebook launches low-key pilot of Novi digital currency wallet
by Graham Buck
Facebook has launched a low-key pilot of Novi, its digital currency wallet, with a limited number of people in the US and Guatemala
India’s corporate governance standards gain a boost
by Graham Buck
Regulatory changes proposed by the Securities and Exchange Board of India (SEBI) will benefit good corporate governance standards, says Fitch
BoE deputy calls for tough cryptocurrency regulation
by Graham Buck
Cryptocurrencies should be regulated as "a matter of urgency" to avoid potential financial contagion, the Bank of England has warned
Data silos, scalable reporting and increased complexity lead regulatory challenges
by Ben Poole
A Clear Path survey of COOs finds regulatory reporting challenges exacerbated by COVID-19, Brexit, new ESG requirements, and increased M&A activity.
European MMFs in increased regulatory peril
by Ben Poole
The EBA's draft regulatory technical standards classify MMFs as shadow banking entities, bringing new regulatory reporting requirements.
Singapore and French central banks break new ground in CBDC experimentation
by Ben Poole
First multi-CBDC experiment to apply automated market making and liquidity management capabilities for cross-border payment & settlement efficiencies.
Bank of England targets MMF resilience
by Ben Poole
The BoE governor has been speaking about how money market funds magnified some of the economic shocks caused by the COVID-19 pandemic.
No ‘run’ on prime MMFs when COVID-19 hit
by Ben Poole
ICD data informed the portal provider's comments to the SEC on potential money market fund reform measures.
Regulators get to grips with ESG reporting standards
by Ben Poole
Both the IFRS and European Commission have recently issued papers addressing the scope of sustainability reporting.
Finance execs adapting controls and reporting to beat COVID challenges
by Ben Poole
A survey from KPMG has found that the pandemic has had a major impact on corporate finance reporting processes in the US.
Using open banking to enhance lending
by Ben Poole
Bud and ANZ NZ have signed strategic AI deal to build a simpler, more transparent lending process.
Societe Generale selects SWIFT’s sanctions list distribution service
by Ben Poole
For Societe Generale, efficient sanctions screening starts with accurate sanctions list data. They turned to SWIFT to achieve this.
Top 11 market structure trends for 2021
by Ben Poole
Following the mayhem of 2020, a report from Greenwich Associates explores the biggest market structure changes for the year ahead.
Basel oversight body approves COVID immunisation plan for banking system
by Ben Poole
GHOS commits to ongoing coordinated approach to mitigate pandemic risks to the global banking system.
Major digital and legislative changes transforming critical activities of tax and finance
by Ben Poole
EY survey finds 85% of companies anticipate an increased workload from emerging digital tax filing requirements.