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Falling Further Back - Statement On SEC Chair Gensler’s Regulatory Agenda: SEC Commissioner Hester M. Peirce, SEC Commissioner Elad L. Roisman, Dec. 13, 2021

Date 13/12/2021

While Chair Gary Gensler’s newly released regulatory agenda[1] is ambitious in scope, we are disappointed with its content. It fails to include any items intended to facilitate capital formation and misses opportunities to foster fair, orderly, and efficient markets and further investor protection. Instead the agenda is brimming with plans to redo recently completed rules, add new regulatory obligations, and constrain investor choice.

New Figures Show AML Enforcement Isn’t Slowed By Pandemic, Reveals Kroll

Date 13/12/2021

• Forty-five fines for money laundering failures issued in 2020; on par with 45 issued in 2019
• Fines for anti-money laundering (AML) failings globally five times higher in 2020 than 2019, totalling USD 2.2 billion
• Total fines for AML failings in January – June 2021 stand at 45% of 2020 total, totalling USD 994 million

FSB Illustrates Practical Approaches To The Execution Of Bail-In

Date 13/12/2021

The Financial Stability Board (FSB) today published a Practices Paper on the Execution of Bail-in.

FSB: A Draft Framework For Money Laundering/Terrorist Financing Risk Assessment Of A Remittance Corridor

Date 13/12/2021

This IMF-World Bank report proposes a draft framework and methodology for risk assessment in remittance corridors having the potential of being identified as “safe remittance corridors”.

UK Financial Conduct Authority: NatWest Fined £264.8 Million For Anti-Money Laundering Failures

Date 13/12/2021

National Westminster Bank Plc (NatWest) was today fined £264,772,619.95 following convictions for three offences of failing to comply with money laundering regulations.

EBA Publishes Amended Technical Standards On Credit Risk Adjustments

Date 13/12/2021

The European Banking Authority (EBA) published today its final report on the draft Regulatory Technical Standards (RTS) amending its  RTS on credit risk adjustments in the context of the calculation of the Risk Weight (RW) of defaulted exposures under the Standardised Approach (SA) of credit risk. The proposed amendments follow up on the European Commission’s Action Plan to tackle Non-Performing Loans (NPL) in the aftermath of the COVID-19 pandemic, which indicated the need for a revision of the treatment of purchased defaulted exposures under the SA. This revision is necessary to ensure that the prudential framework does not create disincentives to the sale of non-performing assets by banks.

Bank Of England: Financial Policy Summary And Record - December 2021

Date 13/12/2021

The Financial Policy Committee (FPC) seeks to ensure the UK financial system is prepared for, and resilient to, the wide range of risks it could face – so that the system can serve UK households and businesses in bad times as well as good.

Readout: US Secretary Of The Treasury Janet L. Yellen’s Virtual Meeting With G7 Finance Ministers And Central Bank Governors

Date 13/12/2021

Secretary of the Treasury Janet L. Yellen participated in a virtual meeting of the G7 finance ministers and central bank governors today.  G7 members discussed the global economic outlook and the importance of boosting global vaccination rates to combat the pandemic, as well as the importance of resilient global supply chains.  G7 finance ministers and governors also discussed the macroeconomic implications of climate change, and technical work the G7 will pursue to better understand climate mitigation measures. Along with her counterparts, the Secretary also endorsed the G7 Finance Ministers Statement on Actions to Support Antibiotic development, which calls on G7 members to address the antibiotic development shortfall with a range of market incentive options.

Moscow Exchange: Concentration Limits Per Issuer Change On Securities Market

Date 13/12/2021

CCP NCC is establishing new concentration limits per issuer on Securities market from December 15, 2021

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Nigeria’s Green Bond Market Exceeds N55Bn Mark As NGX Targets More Issuance

Date 13/12/2021

Nigerian Exchange Limited (NGX) says the value of Nigeria’s green bonds market has grown to N55.52 billion within 2017 and 2021.