PEPs & Sanctions

Credit Suisse, UBS Under US Sanctions Probe – Report

24/03/2023

Credit Suisse and UBS were included in a wave of subpoenas sent out by the DOJ before their merger agreement was announced.

Fraud, Scams & Cybercrime

UPDATED – Terraform Labs Founder Do Kwon Arrested and Charged

24/03/2023

Do Kwon was arrested in Montenegro. SDNY prosecutors released an indictment and will seek his extradition to the US.

Tokenisation

ESMA Goes Live With New DLT Pilot Regime

23/03/2023

Firms can apply for permission to operate DLT-based market infrastructures and receive exemptions from the MiFIR, MiFID II and CSDR.

Market Abuse

Australia: Ex-Tesla Director Sentenced for Insider Trading

23/03/2023

Tesla’s Australia director used confidential information to profit from buying and selling Piedmont Lithium shares on the ASX.

Sustainable Finance

WFE Publishes Framework for Designating Equities as Green

23/03/2023

WFE members created a global framework for defining green equities, which will enable sustainability-focused investors to make more informed decisions.

Cryptocurrency

FASB Opens Consultation on New Crypto Accounting Standard

23/03/2023

Fair value accounting will more accurately reflect the underlying economics of crypto assets and provide more decision-useful information.

Capital Adequacy

BCBS to Assess Financial Stability Risks of Higher Interest Rates

23/03/2023

The BCBS will also consult on revisions to its Core principles for effective banking supervision and on a Pillar 3 disclosure framework for climate-related financial risks.

Clearing & Post-Trade

No Active Negotiations to Resolve India CCP Issue: ESMA

23/03/2023

EU banks will face a 1,250% risk weight on exposures to Indian CCPs after April. French and German regulators have given their banks 18 extra months to terminate Indian CCP memberships.

Payments & Settlements

BIS Innovation Hub Completes Project Nexus Proof-of-Concept

23/03/2023

The next phase of Nexus will connect the instant payment systems of Singapore, Indonesia, Malaysia, Philippines and Thailand.