Regulation
Supervisory actions, enforcement decisions, Basel Committee standards, the EU AI Act's phased implementation, open banking mandates, and the rulemaking that defines the operational and capital constraints of global banking.
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12 Mar 2026Basel Committee · Global
Basel Committee Tightens Crypto Exposure Rules; Industry Estimates $2–4bn Compliance Cost
The Basel Committee on Banking Supervision released its final guidance on the treatment of crypto-asset exposures, tightening the criteria for Group 1 classification and imposing a 2% cap on aggregate crypto holdings relative to Tier 1 capital. The rules take effect on 1 January 2027. Industry bodies estimate compliance costs at $2–4 billion across the G-SIB population.
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11 Mar 2026CFPB · United States
CFPB Proposes 24-Hour Machine-Readable Data Export Mandate for Banks
The US Consumer Financial Protection Bureau issued a proposed rule requiring banks to provide customers with machine-readable exports of all transaction data within 24 hours of request. The "open banking" mandate, if finalised, would take effect in phases beginning March 2027. The American Bankers Association called it "operationally unrealistic" and pledged to challenge the timeline.
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10 Mar 2026MAS · Singapore
MAS Fines Three Crypto Firms S$4.8m in Largest AML Enforcement Action
Singapore's Monetary Authority fined three digital payment token service providers a combined S$4.8 million for deficiencies in their anti-money-laundering controls. The MAS said it had identified failures in transaction monitoring, customer due diligence, and suspicious transaction reporting during examinations conducted in late 2025.
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9 Mar 2026European Commission · AI Act
Brussels Sets Seven-Year Record Retention and Independent Audit Rules for AI in Credit Decisions
The European Commission published draft technical standards requiring financial institutions to commission independent algorithmic explainability audits for any AI system used in credit decisions, insurance underwriting, or market surveillance. The standards, implementing Article 13 of the EU AI Act, set a two-year compliance window and require lenders to retain audit records for seven years.
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