FATF revises AML regulations in New Zealand

How will the new Financial Action Task Force (FATF) grey list reforms impact low-income countries? In a landmark move, FATF President Elisa de Anda Madrazo announced that low-income nations earning below $10 billion will generally avoid grey listing, easing financial pressure and supporting development. This change could reduce the grey-listed countries by 47%. Head to our website for full details on how these reforms will reshape global financial compliance. Learn more: https://buff.ly/3Yji901 #AML #FATF #FinancialCrime #Compliance #GreyList #Finance #RegTech #GlobalFinance

The Financial Stability Board (FSB) has recently published a report examining the short-term funding markets, as part of its ongoing efforts to enhance the resilience of #NBFI. The key takeaway is that while there are potential reforms that could be introduced to improve the functioning of short-term funding markets, any change would need to be carefully assessed by domestic authorities due to the significant differences in CP and CD markets across jurisdictions. While reforms could potentially improve the functioning of funding markets, they may not necessarily have a major impact on resilience during periods of stress.

This document is the European Systemic Risk Board’s response to the European Commission’s targeted consultation assessing the adequacy of macroprudential policy for non-bank financial intermediation. Non-bank financial intermediaries (NBFI entities) comprise different types of entities that have diverse business models and that are subject to different regulatory frameworks. They include NBFI entities that act as agents on behalf of clients, such as asset managers, and those that hold assets on their own balance sheet, such as insurers. The ESRB has for many years provided advice to the EU co-legislators to help ensure that the regulatory framework for NBFI entities supplies EU and national authorities with the means to identify and address risks to financial stability wherever they arise in the financial system. This response to the European Commission’s consultation builds on this advice.

🏛 Here is our weekly update on #financialregulation news 📰 BBVA Research Inés Criado Saiz Highlights: ✔ESMA publishes its second risk monitoring report of 2024 ✔ECB publishes opinion on the proposal for a regulation on a framework for financial data access ✔ESRB publishes report on bank’s vulnerability to deposit runs ✔EBA issues opinion on a Dutch measure to address macroprudential risk ✔SEC adopts amendments on reporting requirements #ESMA #risk #ECB #data #ESRB #deposits #EBA #macroprudential #EIOPA #Solvency2 #FCA #SEC #CFTC #swaps #FinCEN #ResidentialRealEstate #RR· #CFT #AML

💡 An Australian Financial Services Licence (AFSL) authorises a person or entity to provide financial services in #Australia as defined under the Corporations Act. However, there is complexity and confusion around making a market under an AFSL, which stem from the nuanced and overlapping regulatory requirements within the Australian financial services regime. Liam Hennessy and Celine Xia unpack what you need to know 👉 https://lnkd.in/gsZaY3eV #FinancialServices #Regulatory #Risk

The Hong Kong Monetary Authority (HKMA) has finalised revisions to its guidance for banks on determining the geographic allocation of private sector credit exposures for implementing the revised CCyB framework. https://lnkd.in/gT_JPznb

The Bank of England (BoE) recently released two publications related to the oversight of financial market infrastructures (FMIs) – a document setting out its supervisory approach and a consultation paper on the fundamental rules for FMIs. These publications represent “a significant milestone in the Bank’s regulatory regime”, underpinned by the Financial Services and Markets Act 2023 (FSMA 2023). As the successor of the FSMA 2000, FSMA 2023 is the new statutory regulatory framework for UK FMIs that enables the BoE to “replace retained EU law with its own rules”.

IOSCO’s Financial Stability Engagement Group (FSEG) met in London this week to assess current market conditions and the evolving role of securities regulators in today’s environment of heightened volatility. IOSCO’s FSEG is a Board-level group set-up to reinforce IOSCO’s approach to financial stability issues in the capital markets, including with regard to its engagement with the Financial Stability Board (FSB), international standard setting bodies, and other organizations. The FSEG is co-chaired by Marie-Anne Barbat-Layani of the French Autorité des marchés financiers (AMF) – France and by Nikhil Rathi of the UK Financial Conduct Authority. Hosted by the FCA and taking place over the course of two days, FSEG members addressed key topics such as the financial stability considerations relating to Non-Bank Financial Intermediation (NBFI), the transition to T+1 settlements, the emerging role of tokenization, and the growing risks to financial stability posed by inadequate operational resilience. They also explored how changes in market microstructures might be impacting liquidity with valuable insights from market practitioners and from academics. The FSEG benefited from the expert views of Jay Surti from the International Monetary Fund.

🚨 UK MiFID Reforms: What Firms Need to Know 🚨 More regulatory change is on its way! Chancellor Rachel Reeves outlined several proposed reforms to the Markets in Financial Instruments Directive (MiFID II) in her Mansion House speech. These changes are purported to boost market competitiveness, streamline compliance, and position the UK as a global leader in financial services. 📢 Key highlights: 👉Enhanced FCA oversight of commodity derivatives 👉 Simplified transaction reporting 👉A more "dynamic, growth-focused" regulatory approach What do these changes mean for your business? 💼 Read our latest insights to stay ahead of the curve 👇 #MiFIDReform #FinancialRegulation #CapitalMarkets #CGRegulatorySolutions

The UK Government asserts that it is taking bold steps to reform financial regulation and boost competitiveness in capital markets. 🚀 Chancellor Rachel Reeves' Mansion House Speech highlights key changes to MiFID II that will impact firms operating in wholesale markets. A quick summary for anyone navigating these transformative changes. Check out the full insights here 👇 #MiFIDReform #FinancialServices #CapitalMarkets #Regulation #Insights