January 4, 2021

Canada: FINTRAC updates its Risk Assessment Guidance

FINTRAC has updated its Risk Assessment Guidance.    The update covers legislative amendments from June 2017 and legislative amendments that will come into force on June 1, 2021.    Further details are available here.    Picture Credit: Pixabay
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December 31, 2020

Central Bank of Egypt announces measures to offset the impact of COVID-19    

The Central Bank of Egypt has introduced measures to offset the impact of COVID-19.     These measures include: i) cutting interest rates; ii) deferring all credit dues for all customers for a period of 6 months; and iii) exempting banks for one year from calculating additional risk weights on total
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December 29, 2020

The PRA’s Approach to Supervising International Banks – Liquidity Reporting

The Prudential Regulation Authority (PRA) has published its updated supervisory statement on supervision of international banks.   The statement outlines the PRA’s expectations for liquidity reporting by PRA-regulated UK branches of third-country, and non-EU European Economic Area, credit institutions and designated investment firms.   Initially published in February 2017, the
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December 28, 2020

FINRA Sanctions Transamerica Financial Advisors, Inc.

FINRA announces Transamerica Financial Advisors, Inc. has agreed to pay approximately $4.4 million in restitution to approximately 2,400 customers for failing to supervise its registered representatives’ recommendations of three different products – variable annuities, mutual funds, and 529 plans.   Further details are available here.   Photo Credit: Pixabay
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June 29, 2020

UK’s Climate Financial Risk Forum publishes guide on addressing climate-related risks

The Climate Financial Risk Forum has published a guide to help firms address climate-related financial risks.    The guide provides recommendations on disclosure of climate-related financial risks; effective risk management; scenario analysis, and opportunities for innovation in the interest of consumers.   Established in March 2019, the forum’s aim is
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