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New York State Department Of Financial Services Superintendent Linda A. Lacewell Announces Industrial Bank Of Korea To Pay $35 Million To New York State For Violations Of New York Anti-Money Laundering And Recordkeeping Laws - DFS Investigation Finds IBK And Its New York Branch Failed To Implement And Maintain Adequate Bank Secrecy Act And Anti-Money Laundering Compliance Programs

Date 20/04/2020

Superintendent of Financial Services Linda A. Lacewell today announced that the New York State Department of Financial Services (DFS) has entered into a consent order with Industrial Bank of Korea (IBK) and its New York branch under which the bank will pay fines totaling $35 million to New York State for violations of New York Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) laws.

New York Attorney General James Announces Agreement With Industrial Bank Of Korea Related To Illegal Transfer Of Over $1 Billion To Iran - AG James, SDNY Investigation Results In $51 Million Settlement

Date 20/04/2020

Attorney General Letitia James today announced the resolution of an investigation into the Industrial Bank of Korea (IBK) for allowing more than $1 billion to be illegally transferred to the Government of Iran. The six-year investigation, led by the New York Attorney General’s Office (NYAG) and the United States Attorneys’ Office for the Southern District of New York (SDNY), revealed that due to IBK’s deficient anti-money laundering programs, IBK customer Kenneth Zong and the companies he owned and/or controlled, were able to illegally transfer more than one billion U.S. dollars for the Government of Iran using financial institutions located in New York. As part of the agreements, IBK will forfeit $51 million dollars.

UK Financial Conduct Authority Expectations For Wet-Ink Signatures In Light Of Coronavirus (Covid-19) Restrictions

Date 20/04/2020

Bank Of England: Minutes Of The Wholesale Distribution Steering Group - March 2020

Date 20/04/2020

The Wholesale Distribution Steering Group have the objective of overseeing the design of a new end-state model for wholesale cash distribution. This is to support the UK in an environment of declining cash volumes.

CFTC: Agricultural Advisory Committee To Meet Via Teleconference April 22

Date 20/04/2020

The Agricultural Advisory Committee (AAC) will hold a public meeting on Wednesday, April 22, 2020, at 3:00 p.m. EDT via teleconference. U.S. Secretary of Agriculture Sonny Perdue will address the meeting, which will focus primarily on the COVID-19 (coronavirus) pandemic and its impact on agricultural commodity markets. CFTC Chairman Heath P. Tarbert is the sponsor of the AAC.

Cross-Border Data Connectivity Matters For Everyone - A Statement From The Global Services Coalition

Date 20/04/2020

For the global economy to function, not only do goods and services need to move across international borders, so does information. Especially now, with the world battling a global pandemic, it is critical to be able to move data quickly across borders. In fact, digital data is in constant movement round the world, powering many of the services that global users have come to take for granted.

AFME Data Finds Europe’s Capital Markets Have Performed Well Despite Market Stress From COVID-19

Date 20/04/2020

AFME has today published new research on the initial impact of COVID-19 on Europe’s capital markets. The report analyses the recent trends during the current abnormal market circumstances.

Moscow Exchange: Risk Parameters Change For The Securities

Date 20/04/2020

The following risk parameters will be changed:

IR risk (downward scenario) - SECΔ_1 (Y0/Y1)

ETFGI Reports That ETFs And ETPs LISTED IN U.S. Gathered Net Inflows Of US$7.81 Billion During March 2020

Date 20/04/2020

ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs/ETPs ecosystem, reported today that ETFs and ETPs listed in U.S. gathered net inflows of US$7.81 billion during March, bringing year-to-date net inflows to US$59.86 billion which is higher than the US$51.24 billion inflows gathered at this point last year.  Assets invested in the US ETFs/ETPs industry have decreased by 12.2%, from US$4.18 trillion at the end of February, to US$3.67 trillion, according to ETFGI's March 2020 US ETFs and ETPs industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)

EBA Updates Its List Of Risk Indicators, IMF-FSI Mapping And Respective Guides

Date 20/04/2020

The European Banking Authority (EBA) published today an updated guide on how to report the International Monetary Fund (IMF) Financial Soundness Indicators (FSIs) and a revised methodological guide on how to compile risk indicators and detailed risk analysis tools. FSIs provide insight into the financial health and soundness of countries’ financial institutions as well as corporate and household sectors, thus supporting the economic and financial stability analysis.