May 2025
Key Regulatory Trends, Upcoming OTC Derivative Trade Reporting Rules: Canada - CSA, United States - CFTC, Hong Kong - HKMA and SFC, European Union - ESMA, Regulations with Upcoming Go-Live Dates across North America, Europe, and Asia, including Global Industry Initiatives
FinCEN’s proposed AML/CFT modernization rule marks a shift from checkbox compliance to measurable effectiveness. Regulators are increasingly focused on whether AML controls actually work—not just whether processes are followed.
Our white paper explores key changes, including enhanced risk assessments, risk-based resource allocation, SAR effectiveness, governance, operationalization of AML/CFT priorities, and the growing role of analytics, automation, and AI.
On May 23 our team joined Motionball for the Special Olympics Marathon of Sport to support Special Olympics Canada. We surpassed our $5,000 goal, raising $6,030.
Recent updates from the CFTC and CSA are reshaping how firms approach derivatives reporting errors. With the introduction of materiality thresholds, relief on historical corrections, and clearer guidance on what constitutes a “significant” error, regulators are signaling a shift toward pragmatic, risk-based reporting. We break down these changes and what they mean in practice, including: New 5% (CFTC) and 10% (CSA) error thresholds, Relief on “dead swaps” and limitations on historical remediation, and Key operational differences firms must manage across jurisdictions.
