The People’s Bank of China (PBOC) promulgated The Measures for the Supervision and Administration of Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) of Financial Institutions (Measures), which came into effect on 01 August 2021. The new Measures have widened the scope of applicable institutions by adding developmental financial institutions, consumer finance companies, loan companies, non-banking payment institutions and many other types of financial service companies.
As 2021 comes into view, what can we expect to be at the top of regulators’ agendas? As well as continuing priorities like sustainability, innovation and consumer protection, we think prudential reform will be a key issue in 2021, along with the reshaping of the UK regulatory landscape beyond Brexit. We’re delighted to share our predictions in our briefing What does 2021 hold?, which explores regulatory hot topics for financial institutions to watch in 2021.
The European Commission published an updated list of high risk third countries in respect of AML/CTF due diligence.
Find out what trends are emerging in global litigation and arbitration for Financial Institutions.
Learn more about the developments and enforcement trends in the UAE that will lead businesses to face greater regulatory scrutiny.
While important legislative developments have been in gestation for a number of years, recent events have heavily influenced the agenda for the next 12 months.