Enforcement

BNP Paribas Braces for Fine Over Unauthorised Messaging Usage

28/07/2023

BNP Paribas said in its mid-year earnings report that it expects a fine from the CFTC and SEC.

Market Infrastructure

NZ Regulators Demand Progress on Real-Time Payment System

27/07/2023

RBNZ and the Council of Financial Regulators criticised Payments NZ’s slow progress towards a real-time payment system.

AML / KYC

SEBI Mandates LEI for All Non-Individual FPIs

27/07/2023

SEBI is requiring foreign portfolio investors to include their LEI in registration and account opening forms.

Market Infrastructure

Monitoring Group Progresses Work to Enhance Standard-Setting System

27/07/2023

Monitoring Group comments on key advances in enhancing standards on international audit, assurance, ethics, and independence.

ESG / Sustainability

Climate-related Litigation More Than Doubles in Five Years

27/07/2023

Approximately 2,180 climate-related lawsuits were filed in 2022, compared to just 884 cases recorded in 2017.

Big Picture

US Govt Accountability Office Calls for Federal Oversight of Crypto Sector

27/07/2023

GAO report reveals significant regulatory gaps in crypto asset oversight, recommending comprehensive federal intervention to mitigate blockchain-related risks.

Enforcement

Australia Fines Meta A$20m Over Misleading Data Usage Practices

27/07/2023

Australian Federal Court ordered Meta’s subsidiaries to pay AUD 20 million over deceptive consumer data usage, impacting over 270,000 users.

AML / KYC

US Agencies Call on Firms to Self-Disclose Sanctions Violations

27/07/2023

Self-reporting of sanctions and export controls violations make companies potentially eligible for “significant mitigation”.

China NDRC Outlines New Measures to Stimulate Private Investment

27/07/2023

The NDRC aims to promote private investment by clarifying objectives, targeting key sectors, and improving guarantee mechanisms.