King & Wood Mallesons’ Post

China's National Financial Regulatory Administration (#NFRA) has released new draft rules to refine the qualification requirements for #directors and senior managers of #banks including to ensure their independence. https://lnkd.in/gmeDnMyz

On September 10, 2024, Michael S. Barr, Vice Chair for Supervision at the Federal Reserve, delivered a speech outlining his recommendations to re-propose the Basel endgame and G-SIB surcharge rules. Key takeaways: 👉 Exemption for banks with assets between $100-250B, except for unrealized gains and losses. 👉 G-SIBs could see a 9% increase in equity capital requirements. 👉 Updates to the G-SIB surcharge considering economic growth and inflation. 💡 Dive into the full analysis and what these changes mean for the financial landscape in our latest blog : https://lnkd.in/eHhVRGiW #RegTech #RegulatoryReporting #Banking

*4 Top EU Banks Seek RBI Nod for Clearing Model* They have sought the RBI go-ahead for a *3rd-party transaction model* to break the deadlock btwn their home authorities *ESMA and RBI* over audit oversight rights. *ESMA* (European Securities and Markets Authority) *de-recognise* the *CCIL* (Clearing Corp of India) The *4 European banks* in question are *Credit Agricole* , *Société Générale* , *Deutsche Bank* and *BNP Paribas*

FIRST WITH THE NEWS: On Thursday last 'AML Intelligence' predicted the top financial services job in the EU was likely going to Austria finance minister Magnus Brunner. We also said that Portugal's Maria Luís Albuquerque was also a contender to take over at #DGFISMA. Interesting to see that today Politico is agreeing with our choice, with Brunner (pictured) also seen as the frontrunner for financial services by their team, followed by Albuquerque! Of course, as we report Brunner is well across the #AFC brief having led out Austria's attempt to lure the AML Authority #AMLA to Vienna, fronting up the bid at the AMLA hearings in European Parliament earlier this year. At 'AML Intelligence' we rated his performance in the Top 3 pitches - albeit MEPs were highly unlikely to give their votes to Austria. We will know more tomorrow - when the names and portfolios are announced. And here's one final #AMLi prediction - Poland's Piotr Serafin to be Vice-President in charge of several directorates, including DG FISMA! #followthemoney #AML #AFC #banking #fintech #fincrime #regtech #banks #regulators #compliance European Commission European Banking Authority (EBA) European Central Bank Council of the European Union Ursula von der Leyen Wim Mijs Stephen Rae James Treacy Alisha H. Paul O'Donoghue Tom Downes

The Office of Financial Research (OFR) today adopted a Final Rule to improve transparency within the U.S. repurchase agreement (repo) market by establishing a data collection for non-centrally cleared bilateral transactions. This data collection requires daily reporting to the OFR by U.S. covered reporters with large exposures to the non-centrally cleared bilateral repo (NCCBR) market. The collected data will be used to support the work of the Financial Stability Oversight Council (Council), its member agencies, and the OFR to identify and monitor risks to financial stability. It establishes two categories of financial companies subject to reporting, a timeline for submission of data depending on the category of covered reporter, and a number of specific data elements required to be reported. The Final Rule will become effective 60 days after publication in the Federal Register. #otc #repomarkets #securitieslending #funding #reporting #otcderivatives #banking #posttrade

AML findings and more AML findings…

🇪🇺The European Banking Authority (EBA) published its final Guidelines on the so-called “#travelrule” yesterday. This rule mandates the information that must accompany transfers of funds and certain #cryptoassets, aiming to prevent the misuse of such transfers for #moneylaundering and #terroristfinancing purposes. #aml #compliance #antimoneylaundering

Does non-bank financial intermediation requires more regulation? out the industry responses to the targeted consultation assessing adequacy macroprudential policies non-bank financial intermediation https://lnkd.in/eSm-nTfi

CNBV - Assesment of information quality - Regulatory reporting Did you know? National Banking and Securities Comission (CNBV) reviews and rates quality for the information included in the regulatory reports filed by regulated entities. You can find the monthly results in the following link: https://lnkd.in/gt--hVEc Our Clients use #GREP to produce their regulatory reports. Contact us to show you its capabilities. 📩 contacto@sac-walabi.com.mx 🌐 www.sac-walabi.com.mx 📞 55-5033-9709 #reportesregulatorios #CNBV #banxico #Bankingindustry #Consultants #CasasdeBolsa #quality #banking #Brokerdealer #regulatoryreports #softwaredesign

🇮🇹 The Italian Financial Intelligence Unit (#UIF) has just published the latest anti-#moneylaundering statistics: in the first half of 2024, aggregated reports show an increase in both #transaction amounts (+3.3%) and the number of operations (+1.5%) compared to the previous semester. Certain sectors, such as commerce and public administration, show a slight decrease in #suspiciousactivities, while there has been a notable rise in the value of #gold exchanged (+42.4% compared to the same period in 2023). Internationally, cooperation continues to grow: 429 information requests were sent to foreign #FIUs, and cross-border reporting has increased, highlighting a focus on suspicious cross-border movements. These findings underscore the importance of continuous monitoring and a global network to combat money laundering. #aml #antimoneylaundering #dirtymoney #followthemoney