Events listed in Banks
U.S. Department of the Treasury Releases Request for Information on Financial ...
ID 26511
Following a corresponding announcement in November 2023 (EventID 23941), the U.S. Department of the Treasury, USDT, has launched a request for information (RFI) as regards financial inclusion. The aim of the „consultation“ is to inform a national strategy on financial inclusion and „to advance financial inclusion through policy, government programs, financial products and services, technology, and other tools and infrastructure“. The RFI is high ...
Newsletter: 2023 reporting on continuing professional education
ID 26510
The FSMA published a newsletter, aimed at financial intermediaries and credit providers concerning the 2023 reporting on continuing professional education. In this context, the FSMA had previously simplified procedures for the 2022 reporting, introducing a declaration of honor. Building on this, the administrative simplification for reporting on recycling obligations in 2023 goes a step further. Notably, the need for document uploads in the Cabrio ...
Corrigendum to Directive (EU) 2022/2555 on measures for a high common level of ...
ID 26505
A corrigendum to various language versions of the Network and Information Security (NIS) Directive 2 aimed at achieving a high common level of cyber security and further improving the resilience and incident response capacities of both public and private sector entities was published in the Official Journal (OJ) of the EU. The corrigendum corrects – in the English version – Article 19(1) relating to ...
Delegierte Verordnung (EU) 2023/2175 zur näheren Präzisierung der Anforderungen an ...
ID 26499
A new German consolidated version of Commission Delegated Regulation (EU) 2023/2175 as regards European standards for the risk retention requirement for securitizations was published in the Official Journal (OJ) of the EU. The new consolidated version includes the modifications of a prior corrigendum which made numerous corrections to the original German version of the Delegated Regulation relating to nearly all provisions outlined in the ...
FAQs – Publicly offered investment products: Paper Gold Schemes
ID 26498
On December 22, 2023, the Securities and Futures Commission of Hong Kong (SFC) published revised Frequently Asked Questions on „Paper Gold Schemes“ which facilitate investments in gold, but do not involve the physical purchase or storage of actual gold bars. Instead, these schemes typically involve the sale of paper certificates or other financial instruments that represent ownership of gold. The gold may thereby be ...
Issuance of new Russia-related Executive Order and related Determinations; Issuance ...
ID 26495
The Office of Foreign Assets Control, OFAC, has issued a press release to inform of various new sanction measures of the U.S. government in view of the ongoing aggression of Russia towards Ukraine. Specifically, President Joseph Biden has issued a new Executive Order to enhance existing sanction measures and OFAC has issued three new determinations under Executive Order 14024 to impose further related restrictions. ...
Form of confirmation and undertaking on compliance with the OP Section of the ...
ID 26493
The Securities and Futures Commission, SFC, has issued a revised Form of Confirmation and Undertaking to be used by so-called paper gold schemes (PGS) which facilitate investments in gold primarily through the use of ownership certificates. The form confirms and undertakes that: – the applicant and the scheme comply with the overarching principles section of the *SFC Handbook for Unit Trusts and Mutual Funds, ...
Reporting information to OFSI – what to do
ID 26488
The HM Treasury and Office of Financial Sanctions Implementation (OFSI) have published a new version of their UK FINANCIAL SANCTIONS Guidance: Reporting information to OFSI – what to do. This guidance was initially published in 2017 to provide firms with guidance on the reporting to the OFSI as regards suspected (illicit) activities or other actions that mandate such reporting (i.e. transfer from or to ...
Consultation on implementation of global minimum tax and minimum top-up tax in Hong ...
ID 26487
The Hong Kong government or better the Financial Services and the Treasury Bureau and the Inland Revenue Department have launched a joint consultation regarding the adoption of the global minimum tax framework proposed by the OECD, known as BEPS 2.0. The framework aims to address the challenges posed by the digital economy as regards the taxation of income generated across national borders and ensure ...
FinCEN Issues Final Rule Regarding Access to Beneficial Ownership Information
ID 26486
Following the implementation of rules to require the reporting of beneficial ownership by nearly all firms operating in the U.S. in an effort to enhance transparency on ownership and to reduce money laundering and financing of terrorism activity in the U.S. – and – following a subsequent consultation on regulating the access to such collected beneficial ownership information (BOI), the Financial Crimes Enforcement Network ...