This paper provides guidance on money laundering and terrorist financing risks affecting the life insurance sector and proposes measures to mitigate the associated risks.
Financial Regulation and Supervision
The recommendations start with a proposal that regulators could consider focusing greater attention on the use of ESG ratings and data products and the activities of ESG rating and data products providers in their jurisdictions; followed by a set of recommendations addressed to ESG ratings and data products providers, setting out that they could consider a number of factors related to issuing high quality ratings and data products, including publicly disclosed data sources, defined methodologies, management of conflicts of interest, high levels of transparency, and handling confidential information; the recommendations also suggest that users of ESG ratings and data products could consider conducting due diligence on the ESG ratings and data products that they use within their internal processes; the recommendations close with suggestions that ESG ratings and data products providers, and entities subject to assessment by ESG ratings and data products providers could consider to improve information gathering processes, disclosures and communication between providers and entities subject to assessment.
1 November 2021
The recommendations aim to improve sustainability-related practices, policies, procedures and disclosures in the asset management industry, and include guidance on product disclosure, supervision and enforcement, terminology, and the relevant financial and investor education.
28 October 2021
The updated FATF Guidance for a risk-based approach to virtual assets and virtual asset service providers (VASPs) is intended to help countries and virtual asset service providers understand their anti-money laundering and counter-terrorist financing obligations, and effectively implement the FATF’s requirements as they apply to this sector.
11 October 2021
This report sets out proposals and considerations on how policy options could be selected and combined to address all the vulnerabilities arising from different types of money market funds (MMFs).
1 October 2021
The seven principles set out expectations for regulated entities that outsource tasks, along with guidance for implementation.
1 September 2021
The guidance measures propose guidance that member jurisdictions may consider adopting to address the conduct risks associated with the development, testing and deployment of AI and ML.
30 August 2021
This Application Paper on Macroprudential Supervision (“Paper') provides further guidance on the supervisory material related to macroprudential supervision in Insurance Core Principle (ICP) 24.
The framework seeks to help FMI intermediaries better understand which information clients and their resolution authorities may need from them.
20 August 2021
Updated questionnaire on continuity of access to financial market infrastructures (FMIs) for firms in resolution.