Corporate Crime update – August 2020

Welcome to the August 2020 edition of our corporate crime update - our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Read more

FSB Report: Supervisory issues associated with benchmark transition: major LIBOR transition risks

The Financial Stability Board (FSB) has published its long-awaited report to the G20 on supervisory issues related to LIBOR transition. It follows a survey of the state of preparedness of regulators around the globe and presents its recommendations. The purpose of this engagement is to facilitate greater coordination on a global level, to mitigate the impact on financial stability generally and both financial institutions and non-financial institutions specifically: FSB Report: Supervisory issues associated with benchmark transition. Read more

IOSCO proposes updated Outsourcing Principles as Covid-19 drives operational resilience to the top of the agenda

This post gives a high level summary of the International Organization of Securities Commissions' (IOSCO's) consultation on proposed updates to the 2005 Outsourcing Principles for Market Intermediaries and the 2009 Outsourcing Principles for Markets, and includes a link to our briefing that focuses in more detail on: the scope of application; IOSCO’s definition of outsourcing; intragroup arrangements; concentration risk; and access and audit rights. Read more

Will CBDCs be the public sector response to GSCs in the UK and EU?

As consumers use cash to make payments less frequently, and fintech firms offer new forms of money and new ways to make payments, central banks globally are considering how they should respond and whether they too should innovate to meet new payment needs in an increasingly digital economy. Read more