Africa

IOSCO report on liquidity provision in the secondary markets for equity securities

On 11 August 2020, the International Organisation of Securities Commissions (IOSCO) published a report, Liquidity provision in the secondary markets for equity securities. The report identifies some of the key elements of market making programs that may help promote the provision of liquidity, strengthen investor confidence and foster fair and efficient markets. The report focuses … Continue Reading

Basel Committee releases consultative documents on Principles for operational risk and operational resilience

On 6 August 2020, the Basel Committee on Banking Supervision (Basel Committee) published a consultative document seeking comments on proposed Principles for operational resilience. Given the natural relationship between operational resilience and operational risk, the Basel Committee is also proposing to update its Principles for the sound management of operational risk (PSMOR). The Basel Committee … Continue Reading

Global Asset Management Quarterly – 15th edition now available online

By Simon Lovegrove (UK), Richard Sheen (UK) and Imogen Garner (UK) on August 7, 2020 Posted in Africa, Asia, Asset management, Australia, Canada, France, Germany, Italy, The Netherlands, United Arab Emirates, United Kingdom, United States

The latest issue of Global Asset Management Quarterly is now available here. This issue contains the following articles: Europe • European update • EU/UK regulatory roundup United Kingdom • Climate Financial Risk Forum publishes guide on climate-related financial risk management • Heightened risk of market abuse in a remote working context? • Observations on the … Continue Reading

Monthly Global FinTech regulatory updater

Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought … Continue Reading

FSB report : Financial stability implications and policy measures taken

On 15 July 2020, the Financial Stability Board (FSB) published a report that provides an update on financial stability developments and risks relating to COVID-19, the policy actions taken to date and how they relate to the FSB principles, the factors that affect the effectiveness of policies and their implementation and the way forward. The … Continue Reading

CPMI report identifies steps to enhance cross-border payments

By Albert Weatherill (UK) on July 15, 2020 Posted in Africa, Asia, Australia, Canada, France, Germany, Italy, Payment Services, Payment services, Payment services, The Netherlands, United Arab Emirates, United Kingdom, United States

On 13 July 2020, the Committee on Payments and Market Infrastructures (CPMI) issued a report, ‘Enhancing cross-border payments: building blocks of a global roadmap’. The report presents the output of stage 2 of a three stage process to develop a global roadmap for enhancing cross-border payment. The report identifies a set of building blocks where … Continue Reading

FSB and Basel Committee set out supervisory recommendations for benchmark transition

On 9 July 2020, the Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (Basel Committee) issued a report on supervisory issues associated with benchmark transition. The report includes insights on remaining challenges to LIBOR transition based on surveys undertaken by the FSB, the Basel Committee and the International Association of Insurance Supervisors. … Continue Reading

Basel Committee publication: Targeted revisions to the CVA risk framework

On 8 July 2020, the Basel Committee on Banking Supervision (Basel Committee) published a paper setting out the final targeted revisions to the credit valuation adjustment (CVA) risk framework. In January 2019 the Basel Committee published the revised market risk framework. In November 2019 the Basel Committee consulted on a set of targeted final revisions … Continue Reading

Last chance to take part – Global operational resilience survey

Operational resilience, which has risen to increased prominence over recent years, has been brought into even sharper focus following the outbreak of COVID-19. Our risk consulting team is carrying out a survey to explore how financial institutions are managing their crisis response planning and preparedness in the event of severe operational disruption, particularly leading up … Continue Reading

FATF reports on stablecoins and virtual assets

By Simon Lovegrove (UK) on July 8, 2020 Posted in Africa, Asia, Australia, Canada, France, Germany, Italy, Money laundering, Money laundering, Money laundering, Money laundering, Money laundering, Money laundering, The Netherlands, United Arab Emirates, United Kingdom, United States

On 7 July 2020, the Financial Action Task Force (FATF) issued a report to G20 Finance Ministers and Central Bank Governors regarding stablecoins. The June 2019 revisions to the FATF Standards place anti-money laundering and counter-terrorism financing (AML/CFT) requirements on virtual assets and virtual asset service providers (VASPs). The FATF report finds that stablecoins share … Continue Reading

Webinar: LIBOR Transition: market update and managing key risks and challenges

By Hannah Meakin (UK) and Davide Barzilai (UK) on June 23, 2020 Posted in Africa, Asia, Australia, France, Germany, Italy, Seminars and webinars, The Netherlands, United Kingdom

Tuesday 14 July | 08:30H BST We invite you to join our interactive webinar during which we will discuss recent LIBOR transition updates from a loans, derivatives and regulatory perspective as well as talk about some of the key risks and challenges from a disputes viewpoint. With some banks well underway with the due diligence … Continue Reading

Doing business in the EU after the transition period

We have updated our popular client briefing note ‘Doing business in the EU’ covering the temporary transitional relief measures EU27 Member States are implementing, if any, for the period after the transition period should the UK/EU not enter into a free trade agreement. For a copy of the updated briefing note please contact Simon Lovegrove.… Continue Reading

Monthly Global FinTech regulatory updater

Financial services regulation hub now available on the NRF Institute

In an increasingly complex and fast-paced regulatory environment, financial services firms must remain responsive to a wide range of evolving areas, whilst ensuring compliance with new laws and regulation. To help our clients stay up to date on regulatory change as it happens, we have created a new financial services regulation hub on the NRF … Continue Reading

Monthly global FinTech regulatory updater

By Hannah Meakin (UK) on March 17, 2020 Posted in Africa, Asia, Australia, Canada, Fintech, Fintech, FinTech, Fintech, Fintech, Fintech, Fintech, Fintech, Fintech, France, Germany, Italy, The Netherlands, United Kingdom, United States

What are the top AML and sanctions compliance challenges in 2020?

By Sven Stumbauer on March 13, 2020 Posted in Africa, Anti-corruption and business and human rights, Anti-money laundering, Anti-money laundering, Anti-Money Laundering, Asia, Australia, Canada, France, Germany, Italy, The Netherlands, United Arab Emirates, United Kingdom, United States

We recently completed our global anti-money laundering (AML) and sanctions compliance survey that involved discussions with senior financial services executives. Our global analysis covers 375 participating financial institutions from 77 countries. Our initial analysis indicates several key trends: regulatory pressure on AML and sanctions compliance was significant in 2019 and is expected to continue increasing … Continue Reading

Monthly global FinTech regulatory updater

By Hannah Meakin (UK), Sean Murphy (UK) and Imogen Garner (UK) on February 11, 2020 Posted in Africa, Asia, Australia, Canada, Fintech, France, Germany, Italy, The Netherlands, United Kingdom, United States

Monthly global FinTech regulatory updater

By Hannah Meakin (UK) on February 4, 2020 Posted in Africa, Asia, Australia, Canada, Fintech, Fintech, FinTech, Fintech, Fintech, Fintech, Fintech, France, Germany, Italy, The Netherlands, United Kingdom, United States

Watch now: global asset management regulation webinar series

By Simon Lovegrove (UK), Martin Krause (DE) and Imogen Garner (UK) on January 15, 2020 Posted in Africa, Asia, Asset Management, Australia, Canada, France, Germany, Italy, Seminars and webinars, Seminars and webinars, The Netherlands, United Kingdom, United States

The recordings from our global asset management regulation webinar series are now available to watch on demand. In this series, our financial services team explored the key issues and requirements firms should be considering when looking to launch an overseas fund in Europe, Asia Pacific, the United States and Canada. Watch now: The AIFMD re-examined … Continue Reading

Global anti-money laundering and sanctions compliance survey

An increasingly globalised business environment, together with technological innovation, political uncertainty and ongoing regulatory change, present a number of challenges for financial institutions when it comes to protecting themselves against financial crime. Our global anti-money laundering and sanctions compliance survey will explore how financial institutions across the globe are managing their compliance programs in light of the … Continue Reading

New global asset management regulation webinar: The use of Canadian investment funds by non-Canadian managers

By Michael Bunn (CA) and Imogen Garner (UK) on January 6, 2020 Posted in Africa, Asia, Asset Management, Australia, Canada, France, Germany, Italy, The Netherlands, United Kingdom, United States

In our latest asset management regulatory webinar, Michael Bunn discusses the use of Canadian investment funds by non-Canadian managers, including types of Canadian investment funds; structuring considerations; and the regulation of Canadian funds. Previous webinars in our global asset management regulation series can be found on our Asset Management Regulation hub located on the NRF … Continue Reading

UK General Election and next steps for Brexit

By Simon Lovegrove (UK) on December 13, 2019 Posted in Africa, Asia, Australia, Brexit, Canada, France, Germany, Italy, The Netherlands, United Kingdom, United States

Following the UK General Election the Conservative Party has won a majority of at least 76 seats in the House of Commons, its biggest election victory since 1987. With one constituency left to declare at the time of writing, the Conservatives have 364 seats, Labour 203, the SNP 48, the Liberal Democrats 11, the DUP … Continue Reading