Big Picture

Faster Progress Needed to Enhance EU Capital Markets: IMF

15/06/2023

IMF managing director Kristalina Georgieva highlighted key priorities to enhance Europe’s capital markets.

Fintech / Regtech

BSP Proposes Enhance Guidelines for Electronic Fund Transfers

15/06/2023

In the event of unsuccessful transactions, financial institutions must return the amount to the sender within one hour.

Crypto / Digital Assets

ESMA Sets Out Plans for Crypto Rule Consultations

15/06/2023

With MiCA now in force, ESMA said it would consult on a range of technical standards that will be published in three packages.

Canada Pauses Work With AIIB to Probe China’s Involvement

15/06/2023

Canada will halt activity with the AIIB, after an official alleged that the bank was dominated by the Chinese Communist Party.

AML / KYC

US Lawmakers Introduce Bills to Increase FinCEN Accountability

15/06/2023

One of the bills will delay the effective date for the upcoming beneficial ownership information reporting requirements.

Market Infrastructure

India Supervisory Regime for CCPs Gains UK Equivalence

15/06/2023

Indian CCPs have been facing the possibility of losing their ability to provide clearing services to UK market participants.

Capital / Liquidity

US Lawmaker Calls for Reversal of FSOC Plans for Nonbank FIs

14/06/2023

Patrick McHenry said the FSOC’s plans to designate non-bank financial entities as systemically important based on size rather than activities will be problematic.

Crypto / Digital Assets

US Federal Judge Declines to Freeze Binance.US Assets

14/06/2023

The federal judge overseeing the case ordered the SEC and Binance.US to negotiate other restrictions instead.

Crypto / Digital Assets

MAS Grants Crypto Bank Sygnum In-Principle Licence Approval

14/06/2023

Sygnum said it would expand its Singapore offering to include regulated crypto brokerage services, available to accredited and institutional investors.