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Regulatory news and audio briefings from financial regulators worldwide — financial crime, AML, sanctions, fraud, digital assets and compliance

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Latest briefings

501–550 of 721
0:15
GFMA GFMA — Global Financial Markets Association Source document ↗
GFMA — Global Financial Markets Association Markets & Infrastructure ✓ 21 claims 20 Oct 2026

GFMA's FX division says wholesale market is not yet built for 24/7 and T0 settlement

The GFMA Global FX Division has published its October 2026 assessment of how wholesale FX must adapt to 24/7 operation, instant and T0 settlement, and settlement in digital money. It is a planning document, not a rule, but it names the operational and compliance gaps that stand between today's market and a tokenised one — and spells out what firms would have to change before any of it works at scale.

  • The BIS 2025 Triennial Survey sized FX turnover at $9.6 trillion/day, up 28% from the 2022 survey, with wholesale FX settlement sized at over $14 trillion/day in the BIS June 2026 Quarterly Review.
  • The GFXD identifies three 'no-regret' capabilities: improved data exchange across the trade lifecycle, reduced manual touchpoints and exception processing, and reduced system downtime where continuous operation is required.
  • The paper states that KYC and sanctions screening will need to be performed earlier — before or at the point of execution — where they are currently run after execution.
  • It flags that credit exposure must be measurable over weekends and 24/7, and that risk 'transforms' as nostro exposure shifts to digital money such as stablecoin reserves.
  • It calls for public-sector engagement on settlement finality, supervisory divergence, the PFMIs and Global Code, local employment law, and the BIS PIE taskforce's work on a global value-date.
Source document
0:15
BNM Bank Negara Malaysia Source document ↗
Bank Negara Malaysia Markets & Infrastructure ✓ 26 claims 20 Oct 2026

Bank Negara mandates interoperable payments and bans proprietary QR schemes by June 2028

Bank Negara Malaysia has replaced its 2019 Interoperable Credit Transfer Framework with a broader regime covering account-to-account transfers, QR purchases and cross-border payments. It routes mandatory traffic through the shared infrastructure operated by PayNet, outlaws proprietary QR schemes, opens access to non-bank regulated entities and codifies consumer protection obligations. Most provisions bind from 30 June 2026, with phased deadlines beyond.

  • The framework takes effect on 30 June 2026 and supersedes the Interoperable Credit Transfer Framework issued on 23 December 2019.
  • Banking institutions and eligible e-money issuers must not operate proprietary QR code schemes and must fully phase out existing schemes by 30 June 2028, onboarding no new merchants during the transition.
  • Financial institutions must offer eligible domestic fund transfers up to RM5,000, funded from current, savings or e-money accounts, free to senders or recipients.
  • Operators of the shared payment infrastructure must grant objective, non-discriminatory, risk-based access, including to non-BNM-regulated entities, verified by independent external assessment.
  • Cross-border A2A and QR purchase obligations (paragraphs 9.3, 9.4, 9.8, 9.11) are tied to the live operationalisation date of the Nexus scheme, to be announced by BNM.
Source document
0:15
BIS Bank for International Settlements Source document ↗
Global Bank for International Settlements Prudential & Capital ✓ 25 claims 20 Oct 2026

Basel Committee consults on writing EBU parallel-score treatment into G-SIB framework

The Basel Committee wants to formalise the existing supervisory-judgment treatment of intra-European Banking Union exposures in the global systemically important bank methodology. The consultation does not change how EBU-headquartered banks are scored today; it hard-codes the 2022 agreement into SCO40 and the reporting instructions. For euro-area G-SIBs and their competitors, the stakes sit in what becomes permanent and what remains discretionary.

  • The parallel scores for EBU-headquartered G-SIBs would recognise 66% of the score reduction that would result from treating intra-EBU exposures as domestic exposures under the cross-jurisdictional activity indicator.
  • Any downward adjustment of an EBU-headquartered G-SIB is limited to a single bucket, and the parallel scores do not affect G-SIB classification or the scores and buckets of non-EBU banks.
  • Because the proposals formalise existing treatment, the revisions would apply with immediate effect once finalised; comments are due by 14 January 2027.
  • Banks with a leverage ratio exposure measure exceeding EUR 350 billion in the previous year-end must submit the full assessment data and publicly disclose the 13 indicators.
  • The assessment methodology applies from 2027 based on end-2026 data, with the corresponding higher loss absorbency requirement applying from 1 January 2029.
Source document
0:15
DOJ DOJ Criminal Division Source document ↗
United States DOJ Criminal Division Financial Crime ✓ 13 claims 20 Oct 2026

US seeks over $280M from kitchen-products importer and CEO over China duty evasion

The Justice Department has filed a civil fraud suit tied to a criminal case already charged in December 2025, seeking to recover unpaid customs duties and fraud penalties from an importer and its chief executive personally. For compliance and GC teams tracking trade-fraud enforcement, the filing shows how civil recovery under the Tariff Act now runs in parallel with criminal prosecution of the same alleged conduct.

  • The government seeks $67.9 million in unpaid customs duties and $222.5 million in fraud penalties from Uni-Tile & Marble Inc. and CEO Xin Mian Pan, jointly and severally.
  • The alleged scheme ran from September 2018 to August 2023 using multiple shell companies to transship, undervalue and misdescribe goods imported from China.
  • The conduct spanned 503 declared shipments of wooden cabinets, vanities, quartz surface products, ceramic tiles and other merchandise.
  • The civil complaint enforces a CBP demand under 19 U.S.C. § 1592(a) of the Tariff Act of 1930, based on conduct also charged criminally on December 18, 2025 in the Northern District of California.
  • The Justice Department's Trade Fraud Task Force, created to combat avoidance of import duties, partners with CBP on the matter.
Source document
0:15
SEC SEC Press Releases Source document ↗
United States SEC Press Releases Conduct & Consumer ✓ 12 claims 20 Oct 2026

SEC and IOSCO regulators issue joint fraud bulletin for World Investor Week's tenth year

The SEC has issued a joint investor bulletin with domestic and international regulators to mark World Investor Week. This is an awareness exercise, not a rule change, but it signals where securities regulators collectively see retail fraud risk concentrating — relationship investment and impersonation scams — and is worth a few minutes for anyone tracking supervisory priorities on investor protection.

  • The SEC issued the joint Investor Bulletin on October 5, 2026 as part of World Investor Week.
  • US efforts were coordinated with the CFTC, FINRA, SIPC, NFA and NASAA.
  • World Investor Week is an IOSCO-led global effort spanning six continents, now marking its tenth anniversary.
  • The bulletin highlights rising relationship investment and impersonation scams and directs investors to Investor.gov.
Source document
0:15
FED Federal Reserve Source document ↗
United States Federal Reserve Prudential & Capital ✓ 21 claims 20 Oct 2026

Fed finalizes stress-test transparency rules, will average results to cut capital volatility

The Federal Reserve has finalized two rules reshaping how its supervisory stress test feeds into bank capital requirements, adding annual public comment on scenarios and models and introducing two-year averaging of the stress capital buffer. A third proposal on noninterest-income modeling is out for comment. The Board estimates the package cuts year-over-year volatility in capital requirements by roughly 50 percent.

  • The first final rule requires the Board to invite public input annually on stress test scenarios and any material model changes, and adopts the models to be used for the 2027 stress test.
  • Banks with large trading books will be tested against two global market shock components each year, with the Board using the shock that produces the largest losses for each firm.
  • The second final rule averages the two most recent annual supervisory stress test results when calculating stress capital buffer requirements, with averaging beginning in 2028.
  • A separate proposal would revise the noninterest income model to better capture business model diversity; comments are due 60 days after Federal Register publication.
  • The Board estimates the changes will reduce year-over-year volatility in capital requirements by approximately 50 percent and not materially affect aggregate capital requirements.
Source document
0:15
DOJ DOJ Criminal Division Source document ↗
United States DOJ Criminal Division Governance & Accountability ✓ 19 claims 20 Oct 2026

UNC Chapel Hill Settles Title VI Antisemitism and Race Discrimination Probe With DOJ, ED-OCR

The Justice Department and Education Department have reached a university-wide settlement with UNC Chapel Hill over Title VI compliance, covering antisemitism policy, admissions and student benefits. The agreement sets concrete obligations with deadlines and a fixed term, making it a template worth reading for any federally funded institution facing similar scrutiny.

  • UNC must select a Merit & Civil Rights Administrator within 30 days to implement the settlement agreement.
  • UNC will send quarterly reports of antisemitism and race discrimination complaints to ED-OCR and the Civil Rights Division.
  • The settlement bars UNC from using race in admissions, analyzing racial data, or partnering with bridge or pipeline programs that consider protected characteristics.
  • ED-OCR will close 18 active investigations and DOJ will close its 18-month compliance review opened April 18, 2025.
  • The agreement remains in effect until December 31, 2028.
Source document
0:15
MAS MAS — Monetary Authority of Singapore Source document ↗
MAS — Monetary Authority of Singapore Conduct & Consumer ✓ 17 claims 20 Oct 2026

MAS moves to make FIDReC dispute scheme mandatory for payment institutions

MAS wants to close a gap left since the Payment Services Act commenced in 2020, when payment firms were exempted from the independent dispute-resolution requirement that binds other retail-facing financial institutions. This consultation extends FIDReC membership to major and standard payment institutions, flags stablecoin issuers for later inclusion, and sets out how onboarding fees, case fees and levies will be worked out through 2027.

  • All MPI and SPI licensees under the Payment Services Act 2019 would be required to subscribe to FIDReC under a new limb in Part 1 of the Second Schedule to the DRS Regulations.
  • MAS-regulated stablecoin issuers will be added as a further amendment after the stablecoin regulatory framework comes into force; MPI/SPI members who later acquire a stablecoin licence need not reapply.
  • Money-changing licensees are excluded because of simple business models, smaller sums handled and complaints that typically concern service and exchange rates rather than financial loss.
  • Subscribing PSPs will pay an initial onboarding fee, case fees per eligible dispute and an annual general levy, with the framework to be settled with industry over 2027.
  • Since the Shared Responsibility Framework took effect to 30 June 2026, FIDReC received 416 claims against e-wallet providers and handled 141, of which 99% concluded at mediation and 1% required adjudication.
Source document
0:15
EDB EDB Singapore — Economic Development Board Source document ↗
EDB Singapore — Economic Development Board AI, Technology & Data ✓ 20 claims 20 Oct 2026

Anthropic signs AI safety MOU with Singapore ministry, opens fifth Asia-Pacific office

Anthropic has opened a Singapore office and signed a Memorandum of Understanding with the Ministry of Digital Development and Information. The MOU sets out cooperation on AI safety, security and model evaluation, plus technical exchanges with Singapore's assurance institutions. For compliance leads at regulated firms already running Claude, the document signals how the vendor intends to engage Singapore's rule-making as AI governance tightens.

  • The MOU with Singapore's Ministry of Digital Development and Information covers AI safety, security, model evaluation, adoption research and responsible deployment across public and private sectors.
  • Anthropic plans technical exchanges with Singapore's AI safety, security and assurance institutions on model evaluation, testing standards and incident response.
  • Anthropic says it will share research including the Anthropic Economic Index and offer technical and policy expertise as Singapore develops its AI rules.
  • Claude is already used by GovTech Singapore, the Cyber Security Agency of Singapore, DBS, GIC, Grab and Sea, with in-region inference available on Amazon Bedrock for regulated sectors.
  • The office is Anthropic's fifth in Asia-Pacific; engagement with Singapore dates to joining the IMDA and AI Verify Foundation Generative AI Evaluation Sandbox in 2023.
Source document
0:15
AFI Alliance for Financial Inclusion Source document ↗
Philippines Alliance for Financial Inclusion Conduct & Consumer ✓ 12 claims 20 Oct 2026

BSP Deputy Governor Calls for Shift from Financial Inclusion to Financial Health

An opinion piece from Bangko Sentral ng Pilipinas Deputy Governor Bernadette Romulo-Puyat argues that access to financial products is not enough if people do not use, trust or understand them. She sets out concrete steps BSP has taken and plans, relevant to anyone tracking Philippine financial regulation or ASEAN-wide policy coordination.

  • The Philippines' National Strategy for Financial Inclusion will be revised into a National Strategy for Financial Health and Inclusion, with a core group developing a separate National Strategy for Financial Education.
  • BSP has removed all online gambling links from mobile banking services, e-wallets and digital marketplaces.
  • BSP revised bancassurance rules to increase the selection of insurers available to customers.
  • BSP has introduced a new annual financial health survey to measure financial well-being nationally.
  • As current ASEAN chair, the Philippines is advocating for a common regional financial health framework.
Source document
0:15
ISDA ISDA Source document ↗
United States ISDA Markets & Infrastructure ✓ 13 claims 20 Oct 2026

ISDA Data Show Non-Deliverable Forwards Now Majority of US FX Derivatives

ISDA has added US foreign exchange derivatives to its SwapsInfo data platform, publishing a review of trading activity from Q1 2024 to Q2 2026. The figures show non-deliverable forwards overtaking other FX products to become the largest single segment, a shift compliance and trading desks tracking market structure will want to register.

  • ISDA expanded SwapsInfo to include US FX derivatives data, its third OTC asset class after rates and credit.
  • Total FX derivatives traded notional rose 27.1%, from $15.3 trillion in Q1 2024 to $19.4 trillion in Q2 2026.
  • Non-deliverable forward notional grew 37.1% to $10.2 trillion over the same period.
  • NDFs' share of FX derivatives notional rose to 52.7% in Q2 2026 from 48.9% in Q1 2024.
  • The review additionally covers product mix, trade size, currency pairs and execution venue.
Source document
0:15
BIS BIS Press Releases Source document ↗
Global BIS Press Releases Digital Assets ✓ 21 claims 20 Oct 2026

BIS paper finds stablecoins no cure for cross-border payment costs, fintechs win on price

BIS Working Paper 1385 builds comparable all-in cost measures for three cross-border payment rails and tests the claim that stablecoins fix the system's frictions. For anyone shaping a payments strategy or a stablecoin business case, it is a sober data-based check: fintech operators have already compressed costs sharply, while stablecoin transfers still depend on exchanges, thin FX liquidity and fiat off-ramps.

  • BIS Working Paper 1385 was published on 19 October 2026 and carries no binding force, representing the authors' views rather than the BIS.
  • Retail bank wire FX markups range from approximately 2% to 4.7% even for highly liquid currencies, before explicit wire fees are added.
  • For $10,000 transfers from the United States, median fintech costs across developed-market currency groups run around $40 to $60, though some destinations cost considerably more.
  • Stablecoin transfers still depend on crypto exchange, conversion and fiat-withdrawal fees, and liquidity between US dollar stablecoins and non-US currencies is generally very thin.
  • Any favourable stablecoin FX pricing into emerging markets reflects capital-control distortions rather than the underlying blockchain technology.
Source document
0:15
CFTC CFTC Enforcement Source document ↗
United States CFTC Enforcement Financial Crime ✓ 17 claims 20 Oct 2026

CFTC wins $288m EminiFX judgment against Eddy Alexandre over crypto Ponzi scheme

The CFTC has obtained summary judgment against Eddy Alexandre and his firm EminiFX over a commodity pool Ponzi scheme that drew more than $262 million from tens of thousands of investors in eight months. The segment covers the court's findings, the monetary relief ordered, and how much has actually been clawed back to victims so far.

  • The court ordered $228,576,962 in restitution, $15,049,500 in disgorgement and a $45,148,500 civil penalty.
  • EminiFX took in more than $262 million from tens of thousands of investors over eight months while promising weekly returns of 5% to 9.99%.
  • The firm suffered net losses exceeding $49 million, including at least $15 million Alexandre misappropriated for personal use.
  • A court-appointed receiver had returned over $98 million to more than 28,000 investors as of July 2026.
  • Alexandre is serving a nine-year prison sentence in a parallel action brought by the U.S. Attorney for the Southern District of New York.
Source document
0:15
SEC SEC Press Releases Source document ↗
United States SEC Press Releases Conduct & Consumer ✓ 21 claims 20 Oct 2026

SEC fines adviser Zoe Financial $450,000 over undisclosed referral conflict

The SEC has settled with Zoe Financial Inc. over how its referral service matched clients with third-party advisers. The case turns on human salespeople overriding an algorithm to suggest advisers Zoe had a financial incentive to favour, and on a disclosure gap that ran until December 2024. For compliance teams running referral or matching platforms, it is a short, pointed read on where fiduciary disclosure attaches.

  • Zoe Financial agreed to a cease-and-desist order, a censure and a $450,000 civil monetary penalty without admitting the SEC's findings.
  • The SEC found the conflict was not adequately disclosed in Zoe's Form ADV Brochure until December 2024.
  • Although the matching algorithm ignored whether an adviser used Zoe Wealth, salespeople often suggested advisers the algorithm had not recommended.
  • Zoe also disclosed that certain advisory firms held indirect minority interests presenting a conflict, but did not accurately describe how it mitigated that conflict.
  • The order acknowledges remedial steps including compliance manual revisions and the hiring of an in-house chief compliance officer.
Source document
0:15
OFSI OFSI Source document ↗
United Kingdom OFSI Financial Crime ✓ 15 claims 20 Oct 2026

OFSI amends permitted travel expenses guidance within its sanctions licensing suite

OFSI's supplementary financial sanctions licensing guidance collects five HTML documents covering licensing principles, two delegation frameworks and permitted payments for staff and travel. The page was last updated on 10 September 2026 when the travel expenses guidance was amended. This is a reference point for anyone preparing licence applications for designated persons, and the update history shows where OFSI's thinking has shifted.

  • OFSI last updated the page on 10 September 2026, amending the permitted travel expenses guidance for sanctions licence applications.
  • The page gathers five HTML documents, including licensing principles, two delegation frameworks and permitted payments for staff and travel.
  • The Licensing Delegation Framework for Counter Terrorism was updated on 2 February 2026, and the delegation frameworks were updated on 21 October 2024.
  • OFSI published its Personal Staff Payments Licensing Guidance and moved the Travel Licensing Guidance to the digital format on 12 June 2024.
  • This guidance is supplemental to OFSI's general, regime, thematic and sectoral guidance.
Source document
0:15
SEC SEC Press Releases Source document ↗
United States SEC Press Releases Financial Crime ✓ 12 claims 20 Oct 2026

SEC proposes scrapping its pay-to-play rule for investment advisers

The SEC has opened a consultation to rescind the pay-to-play rule that bars advisers from taking fees from government clients for two years after a covered political contribution, along with its recordkeeping provisions. For compliance teams that have built contribution pre-clearance programmes since 2010, this reopens a long-settled constraint. Comment runs 60 days after Federal Register publication.

  • The proposal would rescind Advisers Act Rule 206(4)-5 and strike the corresponding provisions from the Advisers Act recordkeeping rule.
  • The rule currently bars advisers from compensated advisory services to a government client for two years after a covered political contribution.
  • Antifraud prohibitions, fiduciary duty requirements, the compliance rule and the code of ethics rule would all remain in force.
  • The Commission cites a de facto strict liability standard under which small donations or 'foot faults' can trigger substantial prohibitions and fines.
  • The public comment period remains open for 60 days after the proposing release is published in the Federal Register.
Source document
0:15
DOJ DOJ Criminal Division Source document ↗
United States DOJ Criminal Division Financial Crime ✓ 21 claims 20 Oct 2026

Falmouth man pleads guilty to laundering proceeds of $6M Medicare DME fraud scheme

A money laundering conspiracy plea that turns on a straw ownership arrangement and bank secrecy. Anzivino fronted a durable medical equipment company whose true owners billed Medicare for braces nobody ordered. The case is short but detailed on how the laundering actually worked, including the moment a bank balked and the funds moved anyway. Useful for anyone building out nominee-ownership and beneficial-ownership controls.

  • Anzivino acted as the nominee owner of Advanced Medical Supply Corp. while co-conspirators were the actual beneficial owners and managers.
  • Advanced submitted more than $6 million in Medicare claims for unneeded, unprescribed knee and back braces, and Medicare paid more than $3 million.
  • After a New Hampshire bank declined to confirm the recipient companies were legitimate, Anzivino opened an account at another bank and wired $1,494,938.09 across three transactions, each over $10,000.
  • The government seized approximately $353,768.29 in assets tied to the scheme from Advanced's bank account in 2024.
  • Anzivino is scheduled to be sentenced on January 21, 2027 and faces a maximum penalty of 10 years in prison.
Source document
0:15
ESMA ESMA Source document ↗
European Union ESMA Conduct & Consumer ✓ 19 claims 19 Oct 2026

ESMA finds EEA enforcement uneven as three states hold two-thirds of fine value

ESMA's annual consolidated account of how national authorities enforce EU financial markets rules is the clearest public measure of where, and whether, breaches are actually punished. The 2025 edition finds enforcement volumes stable but heavily concentrated, and openly flags divergence that market size does not explain. For anyone operating across EEA jurisdictions, it signals where ESMA now wants outcomes to converge.

  • National authorities imposed more than 950 administrative sanctions and measures across the EEA in 2025, with aggregate fines of almost €82 million.
  • Germany, France and Spain together accounted for two-thirds of the total value of administrative fines across the EEA.
  • Enforcement remained focused on breaches of the Market Abuse Regulation and MiFID II/MiFIR, with increased use of settlements noted.
  • ESMA will continue case discussions among national authorities to make similar breaches produce similar enforcement outcomes across the EU.
Source document
0:15
CISA CISA Advisories Source document ↗
United States CISA Advisories AI, Technology & Data ✓ 18 claims 19 Oct 2026

CISA flags critical hard-coded credential flaw in EseeCloud IP cameras; vendor unresponsive

CISA has published an advisory on three vulnerabilities in Guangzhou Juan IoT Technology's EseeCloud IP camera app and firmware, one rated 9.8 critical. The flaws allow full device takeover, unauthorised rebinding and large-scale device enumeration. The vendor did not respond to CISA's coordination attempts, so no fix exists and the only remedy is network isolation.

  • CVE-2026-107617 lets an attacker use a hard-coded credential to log in to EseeCloud devices, rated CVSS v3.1 9.8 critical.
  • CVE-2026-97858 allows the server to unbind a device from its owner and rebind it to an attacker's account, exposing the device's full serial ID.
  • CVE-2026-105664 creates an enumeration oracle, letting an attacker with a valid token discover registered devices across a 10-digit search space absent rate limiting.
  • Guangzhou Juan IoT Technology did not respond to CISA's coordination attempts, so no patch is available and CISA advises network isolation.
  • Affected equipment is deployed worldwide across energy, communications, transportation, financial services and government sectors.
Source document
0:15
FSB Financial Stability Board Source document ↗
Global Financial Stability Board Governance & Accountability ✓ 16 claims 19 Oct 2026

FSB Chair warns G20 on sovereign bond volatility, private credit and AI risks

The FSB Chair's letter to G20 Finance Ministers and Central Bank Governors, submitted ahead of their 15 October meeting, flags heightened volatility in sovereign bond markets, vulnerabilities in private credit and risks tied to artificial intelligence. It introduces five reports the FSB is delivering, covering global stablecoin arrangements, public sector backstop funding, AI adoption, regulatory modernisation and G20 implementation monitoring.

  • Bailey flags heightened volatility in sovereign bond markets, vulnerabilities in private credit and AI-related risks as live concerns.
  • The letter introduces five FSB reports to the G20, including the stablecoin note published alongside it on 12 October 2026.
  • The Thematic Review on Public Sector Backstop Funding, published 9 October, finds further work is needed to complete implementation of Key Attribute 6.
  • The FSB is delivering a Consultation Report on Regulatory and Supervisory Modernisation and a G20 Implementation Monitoring Review Report.
  • The letter was submitted ahead of the G20 ministers' and governors' meeting on 15 October 2026.
Source document
0:15
DFI Washington State DFI Source document ↗
United States Washington State DFI Conduct & Consumer ✓ 12 claims 19 Oct 2026

Washington DFI charges Pacific Watercraft and Robin Lynn Sells over $5m unregistered offer

Washington's Division of Securities has issued a Statement of Charges against Pacific Watercraft Group and its principal Robin Lynn Sells, alleging an unregistered $5 million offering made without disclosure of the principal's bankruptcy and enforcement history. The action seeks a cease and desist order plus fines and costs. This item sets out what the charges contain and what happens next.

  • The Statement of Charges was entered on October 6, 2026 under file S-26-4197-26-SC01.
  • The respondents allegedly offered up to $5 million in unregistered debt and equity securities to a potential investor in 2026.
  • The undisclosed material information allegedly included four bankruptcy filings by Sells, three previous Securities Division actions, and a 2020 bankruptcy filing by Pacific Watercraft Group.
  • The order cites RCW 21.20.010, RCW 21.20.140 and RCW 21.20.040 and seeks a cease and desist order plus fines and costs.
  • The respondents have a right to request a hearing on the Statement of Charges.
Source document
0:15
ABN American Bankers Association — newsroom Source document ↗
Global American Bankers Association — newsroom AI, Technology & Data ✓ 12 claims 19 Oct 2026

FSB finalizes 12 sound practices for AI adoption at banks and other financial firms

The Financial Stability Board has finalized 12 'sound practices' to guide how banks and other financial institutions adopt artificial intelligence. Framed as a practical toolkit for boards and senior management, the list covers organization-wide governance and risk management across the AI lifecycle. This segment walks through what the FSB finalized, how it maps to existing cyber and third-party frameworks, and where the ABA pushed for changes.

  • The FSB finalized 12 sound practices for AI adoption by banks and other financial institutions on October 15, 2026.
  • The practices split into two groups: organization-wide AI governance, and risk management across the AI lifecycle from development to deployment.
  • The FSB frames the practices as a toolkit firms can tailor to their context and integrate into existing cyber and third-party risk frameworks.
  • The ABA in July recommended improving the machine-learning definition and reorganizing and consolidating the list to aid application at banks of all sizes.
Source document
0:15
FSB Financial Stability Board Source document ↗
Global Financial Stability Board AI, Technology & Data ✓ 20 claims 19 Oct 2026

FSB finalises 12 sound practices for responsible AI adoption by financial institutions

The Financial Stability Board has published its final report on responsible AI adoption, setting out 12 sound practices firms are encouraged to consider. This segment walks through what the practices cover, how they split between organisation-wide governance and lifecycle risk management, and where boards and senior management are expected to engage.

  • The FSB finalised 12 sound practices for responsible AI adoption on 15 October 2026 in a report to the G20.
  • The practices are grouped into organisation-wide AI governance and lifecycle risk management from development to deployment.
  • Board and senior management are strongly encouraged to reference the practices in strategy, technology adoption and risk management.
  • Specific practices cover data governance, explainability and transparency, human oversight, cyber and ICT risk, and third-party AI dependencies.
  • The final report follows a June 2026 consultation report and an October 2025 report on monitoring AI adoption and related vulnerabilities.
Source document
0:15
DOJ DOJ Criminal Division Source document ↗
United States DOJ Criminal Division Financial Crime ✓ 23 claims 19 Oct 2026

Miami man gets 36 months for $4.2 million trust tax-refund fraud scheme

The DOJ's National Fraud Enforcement Division secured a 36-month sentence against a Miami man who filed false tax returns for trusts he controlled, seeking more than $4.2 million in refunds. The case shows how the newly created Fraud Division is pursuing refund schemes, and sets out the restitution and supervised-release terms imposed.

  • Preval was sentenced on October 6, 2026 to 36 months in prison for filing a false tax return on behalf of a trust he controlled.
  • The false returns filed for trusts and himself collectively sought refunds totaling more than $4.2 million from the Treasury.
  • Preval obtained more than $580,000, used to pay off his home mortgage and other personal expenses, and was ordered to pay $580,647 in restitution to the IRS.
  • He also filed 2023 returns that omitted income from his employment, and received one year of supervised release.
  • The case was investigated by IRS Criminal Investigation and prosecuted by the National Fraud Enforcement Division's Tax Section.
Source document
0:15
ADGM ADGM Abu Dhabi — announcements Source document ↗
United Arab Emirates ADGM Abu Dhabi — announcements Governance & Accountability ✓ 15 claims 19 Oct 2026

ADGM fines PKF Accountants and audit principal USD 100,000 for audit failings

ADGM's Registration Authority has penalised an audit firm and its named registered audit principal after an on-site inspection found an audit that fell short of International Standards on Auditing. The action, with penalties totalling against both firm and individual, signals how the RA intends to police audit quality in the centre. A short item, but a pointed one for anyone holding an ADGM audit registration.

  • The RA imposed USD 65,000 on PKF Accountants and Business Advisers LLP and USD 35,000 on its registered audit principal, Ms Saranga Omprakash Lalwani.
  • The action followed an on-site inspection assessing PKF's compliance with ADGM Auditors Rules and the quality of its audit work.
  • Deficiencies included failures to conduct the audit in accordance with International Standards on Auditing as required by the Companies Regulations (Auditors) Rules 2023, and failure to exercise due skill, care and diligence.
  • Specific findings covered fraud-risk assessment, insufficient audit evidence, inadequate documentation, and insufficient evidence of the audit principal's involvement.
  • Decision Notices for both PKF and Ms Lalwani have been published by the RA.
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FSB Financial Stability Board Source document ↗
Global Financial Stability Board Prudential & Capital ✓ 20 claims 19 Oct 2026

FSB finds half of jurisdictions still have gaps in public-sector backstop funding

The Financial Stability Board has assessed how far its member jurisdictions have gone in building public sector backstop funding mechanisms for banks in resolution. The review, launched after the 2023 bank failures, finds material gaps in roughly half of jurisdictions fifteen years after the original recommendations, and sets out six recommendations for action before, not during, a crisis.

  • The review finds further work is needed in a majority of jurisdictions, with approximately half still carrying material gaps fifteen years after the original recommendations.
  • The report sets out six recommendations for jurisdictions to achieve full and consistent implementation of the FSB Recommendations on PBF mechanisms.
  • The FSB is asked to support implementation by sharing good practices and closely monitoring progress on Key Attribute 6 and its Guiding Principles.
  • The review examines implementation of Key Attribute 6 and the Guiding Principles on temporary funding to support the orderly resolution of a G-SIB, not the full range of resolution tools.
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HMRC HM Revenue & Customs Source document ↗
United Kingdom HM Revenue & Customs Prudential & Capital ✓ 15 claims 19 Oct 2026

HMRC's latest ROPS list adds 25 schemes, removes 17, as EEA parity rule beds in

HMRC maintains a notification list of overseas pension schemes that have told it they meet the recognised overseas pension scheme (ROPS) conditions. The latest refresh added 25 schemes, removed 17 and amended one. For advisers handling overseas transfers, the operative detail is not the names but the disclaimer: presence on the list is a self-certification, not an HMRC warranty against UK tax.

  • The 15 October 2026 update added 25 schemes, removed 17 and amended one on the ROPS notification list.
  • HMRC updates the list on the 1st and 15th of each month, deferring to the next working day where that falls on a weekend or UK public holiday.
  • HMRC states it cannot guarantee entries are ROPS or that transfers will be free of UK tax, and will usually pursue UK tax charges and interest, plus penalties in appropriate cases, even where a scheme appears on the list.
  • From 6 April 2025, Overseas Pension Schemes and ROPS established in the EEA must meet the same conditions as schemes in the rest of the world.
  • HMRC may remove schemes at short notice while reviews are carried out, for example where fraudulent activity is suspected.
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FCA FCA Publications Source document ↗
United Kingdom FCA Publications Conduct & Consumer ✓ 20 claims 19 Oct 2026

FCA consults on minimum redemption terms for retail funds holding illiquid assets

The FCA has opened CP26/35, proposing that retail funds investing in illiquid assets such as real estate align their redemption terms with the time it actually takes to sell what they hold. It runs to 11 December 2026, with final rules expected in H1 2027. Anyone running, distributing or wrapping NURS funds in scope should read how the proposals reshape the FIIA regime.

  • The consultation proposes minimum redemption terms for NURS invested mainly in inherently illiquid assets, so terms reflect the time taken to sell them.
  • Scope captures NURS funds with at least 50% of scheme property in inherently illiquid assets, plus other NURS with limited redemption arrangements.
  • The proposals amend the Funds Investing in Inherently Illiquid Assets (FIIA) regime and bind all Authorised Fund Managers.
  • Responses are due by 11 December 2026, with final rules expected in H1 2027.
  • Distributors, advisers, SIPP operators, depositaries and unit-linked life product providers referencing relevant NURS are also in scope.
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RIKS Sveriges Riksbank Source document ↗
Sweden Sveriges Riksbank Governance & Accountability ✓ 17 claims 19 Oct 2026

Riksbank sets 1 July 2027 deadline to redeem long-invalid Swedish banknotes

Sweden's central bank has fixed a final date for redeeming banknotes that have been invalid for more than a decade. The notice matters to anyone holding pre-changeover Swedish currency, and sets out the application window, the 300-kronor fee and the documentation each applicant must supply. It is short, operational and time-limited.

  • From 1 July 2027 the Riksbank will no longer redeem banknotes that have been invalid for more than ten years.
  • Applications for redemption must reach the Riksbank by 30 June 2027 at the latest.
  • Redemption costs 300 kronor where an application is approved, and each case is assessed individually.
  • Applicants must attach supporting documentation showing where the money comes from, such as bank statements.
  • The Riksbank estimates approximately SEK 3.9 billion in invalid banknotes remains unredeemed.
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BIS BIS Press Releases Source document ↗
Global BIS Press Releases Sustainability ✓ 16 claims 19 Oct 2026

BIS paper weighs AI's climate benefits against its own energy footprint

A BIS working paper by Leonardo Gambacorta and Salvatore Polizzi examines the two-way relationship between artificial intelligence and climate change. It covers AI's direct environmental footprint, its potential contribution to mitigation and adaptation, rebound effects, and two stylised scenarios for how capabilities might evolve. The authors set out why the AI-climate nexus bears on potential output, inflation and financial stability.

  • BIS Paper 174 was published on 8 October 2026 and runs to 27 pages, authored by Leonardo Gambacorta and Salvatore Polizzi.
  • The paper finds AI can improve energy efficiency and climate forecasting while its development raises electricity demand and, depending on carbon intensity and timing, associated emissions.
  • The authors assess two stylised scenarios: an AI copilot path with gradual build-up and uncertain net effect, and a transformative AGI path with larger and more uncertain benefits and risks.
  • The paper states the AI-climate nexus can influence potential output and inflation dynamics, while the scale and financing of AI and energy investment may have financial stability implications.
  • The views expressed are those of the authors and do not necessarily reflect those of the BIS or its member central banks.
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CISA CISA Advisories Source document ↗
United States CISA Advisories AI, Technology & Data ✓ 14 claims 19 Oct 2026

CISA and FBI warn election and campaign officials of phishing ahead of 2026 midterms

CISA and the FBI have issued a joint Public Service Announcement warning election and campaign officials about cyber threats during the 2026 U.S. midterm elections. The notice describes phishing and smishing campaigns that mimic legitimate communications to steal credentials and deploy malware. For anyone handling voter data or sensitive campaign information, it sets out who is being targeted and why, and points to recommended practices.

  • CISA and the FBI released a joint Public Service Announcement on October 16, 2026 warning of cyber threats to the 2026 U.S. midterm elections.
  • The agencies say actors may use phishing and smishing to steal login credentials and sensitive information or to install malware on targeted devices.
  • Election officials, candidates and political organisations are named as targets because of access to voter registration data, government officials and sensitive campaign information.
  • The notice warns that campaigns increasingly use convincing emails, text messages, audio and video to manipulate recipients into disclosing information or interacting with malicious links and attachments.
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DOJ DOJ Criminal Division Source document ↗
United States DOJ Criminal Division Financial Crime ✓ 20 claims 19 Oct 2026

DOJ charges three over sex trafficking of minors, partly directed from a prison

The Justice Department's Criminal Division unsealed an indictment in the District of Delaware charging three defendants with conspiracy to commit sex trafficking of minors by force, fraud and coercion, plus related CSAM counts. The case is notable for its allegation that one defendant continued directing the scheme from behind bars using contraband phones. This segment sets out who is charged, the alleged conduct and the penalties at stake.

  • All three defendants are charged with conspiracy to traffic a minor by force, fraud and coercion and face a minimum of 15 years and a maximum of life in prison on those counts.
  • Geeter is currently serving a 97-year California state sentence and allegedly used contraband cell phones to engage in some of the conduct while incarcerated.
  • Geeter and Hasty are additionally charged with producing child sexual abuse material, with Geeter facing 25 to 50 years and Hasty 15 to 30 years on the CSAM charges.
  • The scheme allegedly compelled three minors and one adult to engage in commercial sex acts in Delaware and elsewhere using force, threats, fraud or coercion.
  • The FBI's Delaware Violent Crime and Safe Streets Task Force and Delaware State Police are investigating; the indictment remains an allegation and all defendants are presumed innocent.
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ABN American Bankers Association — newsroom Source document ↗
United States American Bankers Association — newsroom Conduct & Consumer ✓ 17 claims 19 Oct 2026

ABA Guidance Clarifies Business-Purpose Loans Are Not Exempt Across All Lending Rules

ABA's October compliance column answers a recurring examiner question: does a business-purpose loan secured by a home automatically fall outside consumer protection rules? The answer, drawn directly from Regulation Z, X, C and B text and commentary, is no — each regulation must be checked separately, and the same loan can be exempt from some and covered by others.

  • Regulation Z, §1026.3(a)(1), excludes an extension of credit made primarily for a business, commercial, or agricultural purpose, and comment 3(a)-3.ii.A confirms this covers loans secured by a borrower's residence.
  • Regulation X, §1024.5(b)(2), exempts business-purpose loans from RESPA coverage and allows lenders to rely on the Regulation Z determination.
  • Regulation C requires a separate analysis under §1003.3(c)(10): a business-purpose mortgage is excluded from HMDA reporting unless it qualifies as a home improvement loan, home purchase loan, or refinancing.
  • Regulation B, §1002.2(g), defines business credit but contains no general exemption comparable to Regulations Z or X, meaning ECOA generally continues to apply, including the notification requirements in §1002.9(a)(3).
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FCDO FCDO — sanctions announcements Source document ↗
United Kingdom FCDO — sanctions announcements Financial Crime ✓ 15 claims 19 Oct 2026

UK warns E1 settlement tender bidders they risk sanctions under new powers

On the closing day for bids on Israel's E1 settlement construction tender, the Foreign Secretary issued a direct warning to any business or individual considering participation. The statement points to new sanctions powers aimed at those involved in illegal settlement construction, and previews legislation on settlement goods and the services that finance them. A short but pointed signal for compliance and government affairs teams.

  • The 19 October 2026 statement marks the deadline for bids on Israel's E1 settlement construction tender.
  • The UK says it has created new powers to sanction individuals and companies involved in constructing illegal settlements such as E1.
  • Miliband warned bidders of legal and reputational consequences, including the risk of serious breaches of international law.
  • The Government reiterated a commitment to legislate to ban goods imported from illegal settlements and to act on services that finance or facilitate them.
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FCA FCA Source document ↗
United Kingdom FCA AI, Technology & Data ✓ 28 claims 19 Oct 2026

FCA publishes AI good and poor practice and asks LLM providers to add disclaimers

FCA data chief Jessica Rusu used a Bloomberg policy speech to publish observations on good and poor AI practice from this year's firm testing, call on general-purpose AI providers to add disclaimers, and set out how the FCA will supervise agentic finance. For compliance and technology leads, the material change sits in incident reporting and accountability expectations rather than any new rulebook.

  • The FCA published good and poor AI practice today, structured around consumer centricity, accountability and governance, and operational resilience.
  • Rusu said existing rules requiring firms to report major incidents must extend to significant AI failures and near-misses.
  • Six of the seven Mills Review recommendations are being embedded into live FCA work immediately, with the response focused on testing, assurance, monitoring and surveillance rather than further consultation.
  • The FCA called on general-purpose AI providers to add clear, proportionate and consistent disclaimers about the limits of financial information and advice their models generate.
  • The FCA is building AI supervisory tools, including a market first responder agent for about 9,000 small wholesale transaction-reporting firms and tooling for 60,000 AML firms entering its remit in 2028.
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EURE Eurex Source document ↗
European Union Eurex Markets & Infrastructure ✓ 18 claims 19 Oct 2026

Eurex to launch centrally cleared Japanese single-stock and dividend futures on 2 November

Eurex is opening its equity financing product suite in Japan, the last major developed market it had not covered, and its first move into Asia Pacific equity derivatives. The new single-stock futures and single-stock dividend futures are pitched as a centrally cleared, capital-efficient alternative to bilateral OTC equity swaps. For anyone running Japanese equity financing books, this is a structural shift worth a few minutes.

  • Trading in Japanese SSFs and SSDFs begins on 2 November 2026 with 10 leading Nikkei 225 names selected in consultation with clients and partners.
  • Further phases through 2027 will progressively expand coverage to the majority of Nikkei 225 constituents, driven by client demand and operational readiness.
  • All transactions are executed on Eurex's regulated market and centrally cleared through Eurex Clearing, with no ISDA master agreement required.
  • SSDFs are available in JPY and SSFs in both JPY and USD, with the contracts trading 21 hours a day from 08:15 SGT/09:15 JST.
  • Eurex states it is the first market infrastructure to offer centrally cleared futures on individual Japanese stocks.
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ACPR ACPR Source document ↗
European Union ACPR Prudential & Capital ✓ 19 claims 19 Oct 2026

Bundesbank and ACPR leaders warn against deregulating EU banks for competitiveness

A joint op-ed from the incoming head of France's ACPR and a Bundesbank board member pushes back on the idea that loosening bank rules would make Europe more competitive. It is a short, pointed intervention into the EU's competitiveness debate, reframing prudential resilience as a precondition for financing climate, digital and defence priorities rather than an obstacle to it.

  • Denis Beau and Michael Theurer argue in La Tribune on 10 September 2026 that deregulating EU banks to boost competitiveness would be a mistake.
  • The authors frame the EU's competitive position as an issue of sovereignty, not only economic growth.
  • They note the combined capitalisation of US bond and equity markets far surpasses the EU's, and that the US venture capital market is six times bigger.
  • They call for mobilising European savings toward climate transition, digitalisation and defence, and for advancing the Savings and Investments Union.
  • They argue resilience built by post-2008 reforms is instrumental to banks' capacity to finance Europe's strategic ambitions.
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DBS Deutsche Bundesbank — speeches Source document ↗
European Union Deutsche Bundesbank — speeches Governance & Accountability ✓ 27 claims 19 Oct 2026

Bundesbank's Nagel urges Europe to diversify Asia trade, cut China import dependencies

Bundesbank President Joachim Nagel used a Bangkok panel to set out how Europe should recalibrate its economic relationship with Asia. The remarks matter less as policy than as a signal of how Germany's central bank frames supply-chain resilience, the Savings and Investments Union, and competitiveness. A short read for anyone tracking EU trade strategy and industrial-policy direction.

  • Nagel said that since 2019 EU exports to China have remained broadly stable while imports from China have increased substantially.
  • He welcomed the EU-India trade agreement reached this year and the agreements with Indonesia concluded last year.
  • He cited the ESMC joint venture in Dresden, with partner TSMC, and Infineon's new site near Bangkok opened two weeks earlier as examples of resilient value chains.
  • He called for implementing the Savings and Investments Union so European start-ups can access enough venture capital to scale and compete globally.
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HKMA HKMA — Hong Kong Monetary Authority Source document ↗
HKMA — Hong Kong Monetary Authority Prudential & Capital ✓ 9 claims 19 Oct 2026

HKMA issues Code of Practice for designated retail payment system infrastructure operators

The HKMA has issued a Code of Practice under Hong Kong's Protection of Critical Infrastructures (Computer Systems) Ordinance for retail payment system infrastructure operators that it designates as critical infrastructure operators. This short segment covers what the Code binds, the statutory obligations it addresses, and the effective date operators need to work back from.

  • The Code is issued under section 8(1) of the Protection of Critical Infrastructures (Computer Systems) Ordinance (Chapter 653).
  • It applies to Retail Payment System Infrastructure Operators designated by the Monetary Authority as Critical Infrastructure Operators under section 12 of the Ordinance.
  • The Code provides practical guidance on compliance with category 1 and category 2 obligations under the Ordinance.
  • Under section 8(3), the Code takes effect on 15 October 2026.
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BNM Bank Negara Malaysia Source document ↗
Bank Negara Malaysia Prudential & Capital ✓ 18 claims 19 Oct 2026

Bank Negara sets 4-hour downtime cap for critical banking systems in revised RMiT

Bank Negara Malaysia has reissued its Risk Management in Technology policy document, consolidating and superseding the 2023 RMiT and five other instruments. It sets hard availability metrics for critical systems, phased resilience deadlines through 2027, and governance obligations covering the board, a designated technology committee and a CISO. The scope reaches well beyond banks into insurers, takaful operators, e-money issuers, payment system operators and remittance institutions.

  • Critical systems must keep cumulative unplanned customer-facing downtime to no more than 4 hours on a rolling 12-month basis and no more than 120 minutes per incident.
  • Firms must implement early-warning mechanisms and establish stand-in processing arrangements by 30 September 2027, and escalate to senior management when disruptions affect 5% or more of expected daily customers or transaction volumes.
  • Service-availability track records must be disclosed quarterly within 15 calendar days of quarter-end, beginning 15 October 2027.
  • The board must designate a technology committee with at least one member holding technology experience, and the firm must designate a CISO independent of day-to-day technology operations.
  • The document supersedes the 1 June 2023 RMiT and five other instruments, and network device logs must be retained for at least three years.
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SSM ECB Banking Supervision Source document ↗
European Union ECB Banking Supervision Sustainability ✓ 28 claims 19 Oct 2026

ECB's Elderson casts climate and nature risk as a structural macroeconomic concern

Frank Elderson, ECB Executive Board member and Vice-Chair of the Supervisory Board, used a keynote in Manila to argue that climate and nature degradation are now structural drivers of growth, inflation and financial stability, squarely within the central bank's mandate. The speech sets out why he sees the transition as a competitiveness play and what is holding investment back.

  • Elderson argued climate and nature risks are macroeconomic and fall within the ECB's price-stability and bank-safety mandate, requiring models that reflect them.
  • He cited ECB research that an extreme episode of water scarcity could put up to 24% of euro area output at risk, with flood exposure affecting nearly 12% of output and more than 60% of loans.
  • He identified two barriers to transition investment: political, economic and regulatory uncertainty, and access to finance, calling for predictability and no backtracking on legislative commitments.
  • The July 2026 euro area bank lending survey showed easing credit standards for transitioning firms but tightening for high-emission firms without credible transition plans.
  • He put additional EU green investment needs at hundreds of billions of euros annually, citing a Commission estimate of around €477 billion per year until 2030.
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BNM Bank Negara Malaysia Source document ↗
Bank Negara Malaysia Markets & Infrastructure ✓ 19 claims 19 Oct 2026

Bank Negara finalises interoperable fund transfer rules, bans proprietary QR schemes

Bank Negara Malaysia has issued the final Interoperable Fund Transfer Framework policy document alongside a statement responding to industry feedback on the 2025 exposure draft. The segment covers the prohibition of proprietary QR schemes, the mandatory routing of transactions through the shared payment infrastructure, and the mandatory enablement of cross-border services. Payments and compliance teams at participating institutions should understand what is now fixed and what remains under discussion.

  • Proprietary QR code schemes are prohibited, with a two-year transition period for affected institutions to migrate to the interoperable scheme.
  • Participants must enable both domestic and cross-border services, with the cross-border mandate's effective date aligned to the Nexus go-live timeline.
  • Both on-us and off-us fund transfers via the QR code scheme must route through the shared payment infrastructure to support fraud detection and response.
  • The P2M interoperable QR mandate applies only to participants offering QR-based purchase services to the retail segment, including consumers and merchants.
  • Non-bank cross-border fund transfer services generally fall under the Money Services Business Act 2011, with BNM formalising a list of excluded businesses.
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AMLC Amlcft.Bnm Source document ↗
Malaysia Amlcft.Bnm Financial Crime ✓ 19 claims 19 Oct 2026

BNM issues plain-language AML/CFT guide for Malaysian DNFBPs and non-bank financial institutions

Bank Negara Malaysia has published a condensed AML/CFT/CPF guide aimed at designated non-financial businesses and professions and non-bank financial institutions. It walks these sectors through the main obligations under the AMLA and the dedicated policy document: KYC, sanctions screening, risk profiling, enhanced due diligence, suspicious transaction reporting and record retention, with the maximum penalties attached.

  • The guide binds DNFBPs and NBFIs including lawyers, accountants, trust companies, company secretaries, dealers in precious metals or stones, registered estate agents, licensed casinos and gaming outlets, moneylenders, pawnbrokers, and leasing and factoring businesses.
  • Firms must screen clients against the Ministry of Home Affairs (MOHA) and UNSCR sanctions lists covering terrorism, proliferation and other UN regimes, and on a positive name match must not commence business, freeze funds and block transactions.
  • Client risk profiling must assess four factors: client, product or service, geographical location and delivery channel, with enhanced due diligence applied to higher-risk clients.
  • Records, including KYC information, ID copies, transaction details and any STR analysis, must be kept for at least six years from termination of the business relationship.
  • Maximum penalties cited under AMLA sections 13, 14, 16 and 17 range up to a RM1 million fine and up to RM3 million or imprisonment up to five years or both.
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AMLC Amlcft.Bnm Source document ↗
Malaysia Amlcft.Bnm Financial Crime ✓ 22 claims 19 Oct 2026

Malaysia overhauls proliferation-financing sanctions directive, binding banks to risk-assessment regime

Malaysia's Strategic Trade Secretariat has reissued its directive on targeted financial sanctions relating to proliferation financing, enforced from 7 June 2024. It binds a broad list of reporting institutions supervised by Bank Negara Malaysia, Labuan FSA and the Securities Commission, and goes beyond list-screening to require a documented PF risk assessment and a counter-proliferation compliance programme. This segment sets out who it covers and what they must now have in place.

  • The amended directive was enforced on 7 June 2024 and replaces the version dated 13 April 2018, issued under section 6 of the Strategic Trade Act 2010.
  • It is legally binding on the reporting institutions listed in Appendix I, which span banks, insurers, money-services businesses, capital-market intermediaries and designated non-financial businesses.
  • Institutions must immediately freeze a confirmed designated person's funds without the prior approval of the Strategic Trade Controller or supervisory authority.
  • Positive matches must be reported upon determination, with periodic reporting on changes due by 15 January of the following calendar year.
  • Institutions must identify, assess and document their proliferation-financing risks and implement a counter-proliferation financing compliance programme with a compliance officer, training and independent audit.
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BEA Banco de España Source document ↗
European Union Banco de España Digital Assets ✓ 20 claims 19 Oct 2026

Banco de España compares US, UK and EU stablecoin regimes and flags arbitrage gaps

Banco de España staff set three stablecoin frameworks side by side: the EU's MiCAR, already in force; the US GENIUS Act, signed in July 2025 but not operative until 2027; and the UK's phased proposal due by end-2026. The piece dissects redemption rights, reserve composition, capital and crisis management, and explains why co-issuer structures such as Circle's split between its US parent and French subsidiary worry European authorities.

  • MiCAR has applied to e-money tokens since June 2024, while the GENIUS Act is not expected to enter force until 2027 with a three-year transition, and the UK framework is due for approval by end-2026.
  • MiCAR requires non-bank EMT issuers to hold minimum capital of €350,000 and own funds of 2% of average circulation, rising to 3% for significant issuers, with possible supervisory add-ons of 20% to 40%.
  • MiCAR mandates at least 30% of the reserve in same-currency bank deposits, rising to 60% for significant e-money tokens.
  • The ESRB published a Recommendation in September 2025 to prohibit multi-jurisdiction co-issuance schemes in Europe absent adequate safeguards, citing the disparity between Circle's US parent and its French subsidiary.
  • USDT and USDC account for roughly 90% of global stablecoin volume, at capitalisations of around $190 billion and $80 billion respectively.
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AMLC Amlcft.Bnm Source document ↗
Malaysia Amlcft.Bnm Financial Crime ✓ 24 claims 19 Oct 2026

Malaysia overhauls proliferation-financing sanctions directive, binds crypto custodians

Malaysia's Strategic Trade Secretariat has reissued its directive on targeted financial sanctions relating to proliferation financing, replacing the 2018 instrument. It restates freezing and screening duties tied to UN designations, adds explicit proliferation-financing risk-assessment and compliance-programme obligations, and applies across banks, insurers, DNFBPs, capital-market intermediaries and digital-asset service providers. Compliance teams should read it as a refreshed, legally binding baseline.

  • The TFS-PF (Amendment 2024) directive was enforced on 7 June 2024 and replaces the directive dated 13 April 2018, issued under section 6 of the Strategic Trade Act 2010.
  • Reporting institutions must freeze matched funds, assets and economic resources immediately, and the prior approval of the Strategic Trade Controller is not required to do so.
  • Institutions must screen their entire customer database, including dormant accounts, without delay upon a UNSC-published designation.
  • Institutions holding frozen or blocked funds must report changes to those funds by 15 January of the next calendar year using the Appendix III template.
  • Appendix I extends the obligations to licensed digital currency and digital token custodians and advisers, alongside banks, insurers, DNFBPs and Labuan entities.
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AMLC Amlcft.Bnm Source document ↗
Malaysia Amlcft.Bnm Financial Crime ✓ 26 claims 19 Oct 2026

Bank Negara tells reporting institutions to apply FATF June 2026 high-risk list

Bank Negara Malaysia has circulated the FATF's June 2026 statements to all reporting institutions under AMLA, restating the obligations attaching to DPRK, Iran and Myanmar, and updating the increased-monitoring list. The circular reiterates a risk-based approach and warns explicitly against de-risking or blanket exits of customer categories, including NPOs linked to listed jurisdictions.

  • DPRK and Iran remain subject to FATF calls for countermeasures and enhanced customer due diligence, and institutions must continue applying targeted financial sanctions under the relevant UN resolutions.
  • Myanmar stays subject to enhanced due diligence, and the FATF will consider countermeasures if no further progress is made by October 2026.
  • Bosnia and Herzegovina and Iraq were added to the FATF's grey list, while Algeria and Namibia were removed following significant progress.
  • BNM requires institutions to apply a risk-based approach and avoid de-risking or blanket exits of customer categories such as NPOs linked to listed jurisdictions.
  • For grey-list jurisdictions the FATF does not call for enhanced due diligence; institutions must assess each jurisdiction case-by-case in their risk assessments.
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BNM Bank Negara Malaysia Source document ↗
Bank Negara Malaysia Markets & Infrastructure ✓ 25 claims 19 Oct 2026

BNM reissues RENTAS foreign-currency settlement procedures, effective 1 September 2026

Bank Negara Malaysia has published the latest consolidated operational procedures for foreign-currency settlement in RENTAS, the country's real-time gross settlement system. The document sets out membership types, access channels, business hours, cut-off times, settlement finality and queue management for participants settling in supported foreign currencies. The live change in this version is cosmetic, but the consolidated text is now the operative reference for operations teams.

  • Version 1.8 takes effect 1 September 2026 and its sole substantive change replaces the signatory title 'Head' with 'Director' across nine appendices and participant forms.
  • Foreign-currency settlement runs 8.30am to 6.00pm, with cut-off times of 5.30pm for RMB and 6.00pm for USD, and all unsettled queued instructions cancelled at cut-off.
  • Participants using cloud-based SWIFT access (SAL2 or SAC) must submit an annual declaration to BNM by 31 January covering CSCF attestation and RMiT cloud compliance.
  • Paying participants must transmit payment instructions to RENTAS Host within 30 minutes of a customer instruction, except transactions failing regulatory, sanction or AML screening.
  • Participants requesting a cut-off extension acknowledge BNM may publicly disclose all information pertaining to the request.
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BNM Bank Negara Malaysia Source document ↗
Bank Negara Malaysia Markets & Infrastructure ✓ 19 claims 19 Oct 2026

BNM revises RENTAS retail-settlement balance rules and FRPS+ charges from 1 September

Bank Negara Malaysia has reissued the Operational Procedures for MYR settlement in RENTAS, effective 1 September 2026. Version 1.9 is a narrow but operationally material update touching the Near Real Time Settlement module's balance mechanics, third-party payment messaging and the fee schedule. If you run treasury or payments operations against a RENTAS settlement account, these changes affect intraday funding and cost.

  • Version 1.9 takes effect on 1 September 2026 and binds all RENTAS participants under section 35 FSA and section 45 IFSA.
  • Clause 38.15 revises the NRTS minimum-balance mechanism and calculation formula and updates the maximum-balance threshold.
  • Appendix II adds sweep-in and sweep-out charges and updates effective charges for FRPS+ utilisation and FRPS+ Overnight Charges.
  • Guideline I on MYR Third Party Payments adds guidance on the usage of IFT04 in pacs.009.001.08.
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BNM Bank Negara Malaysia Source document ↗
Bank Negara Malaysia Markets & Infrastructure ✓ 23 claims 19 Oct 2026

BNM reissues RENTAS and FAST participation rules, effective 1 September 2026

Bank Negara Malaysia has issued version 1.6 of the Participation Rules for Payments and Securities Services, the binding contract governing participants of RENTAS and FAST. The headline change is cosmetic, but the consolidated text carries substantive obligations added in recent revisions covering insolvency handling, continued access for institutions in resolution, and the new role of retail payments operators. Worth a few minutes for anyone operating a RENTAS or SSDS account.

  • Version 1.6 of the Participation Rules takes effect on 1 September 2026 and binds all participants of RENTAS and FAST.
  • The sole change in this version is Clause 40.1.3, which changes an officer designation from 'Head' to 'Director'.
  • An institution in PIDM resolution must retain continued access to RENTAS and cannot be suspended solely for entering resolution under section 98 of the PIDM Act.
  • Participants must formally notify their board or compliance committee of any breach of the Rules and submit incident reports to BNM on request.
  • BNM's aggregate liability to participants is capped at the highest annual fees and charges paid by any one participant in the preceding twelve months, excluding penalties and admission fees.
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