Australia: Misconduct Compensation Scheme Starts Processing Claims

18/04/2024

The Compensation Scheme of Last Resort provides compensation to eligible consumers who have an unpaid determination from AFCA.

Market Infrastructure

Japan, Korea, US Finance Ministers Hold First Trilateral Meeting

18/04/2024

The ministers agreed to “consult closely” on FX markets and to cooperate on financial stability and the use of sanctions.

Sanctions

US Treasury Terminates Zimbabwe Sanctions Regulations

18/04/2024

The Zimbabwe sanctions programme is terminated and replaced with Magnitsky sanctions against 11 individuals and three entities.

Enforcement

US SEC Blocks Staff Messaging on Mobile Devices

17/04/2024

The SEC is restricting access to SMS, iMessage, and third-party messaging applications on employees’ work mobile phones.

Securities / Derivatives

FSB Consults on Non-bank Margin and Collateral Calls

17/04/2024

FSB recommendations seek to reduce procyclical behaviour of non-bank market participants in response to margin and collateral calls.

Fintech / Regtech

ISDA Extends Digital Regulatory Reporting Initiative

17/04/2024

The initiative is being extended to cover new derivatives reporting rules in the UK, Australia and Singapore.

ESG / Sustainability

BCBS Consults on Ways to Improve Climate Scenario Analysis

17/04/2024

New BCBS paper asks about key challenges and how methodologies, capabilities and scenarios can be further improved.

Fintech / Regtech

FSS Korea Launches New Reporting System for PE Funds

17/04/2024

The new system improves convenience for reporting firms and eases the review process prior to submission, the FSS said.

Enforcement

No Criminal Misconduct Found in EY’s Wirecard Audits

17/04/2024

EY could have faced unlimited liability for claims of damages from Wirecard’s administrator and former shareholders if criminal misconduct was found.