Enforcement

Deutsche Bank to Settle Jeffrey Epstein Lawsuit for $75m

19/05/2023

The lawsuit brought by an unnamed woman in November claimed Deutsche Bank missed red flags in Epstein’s accounts and chose profit over following the law.

Crypto / Digital Assets

HKMA Launches e-HKD Pilot Programme With 16 Firms

19/05/2023

HSBC, StanChart, BOCHK, CCB, ICBC, Hang Seng Bank, Alipay, Ripple, Visa, Mastercard and ZA Bank are among those involved in HKMA’s pilot.

Enforcement

SFC Fines Brokerage for Negligence During Share Placement

19/05/2023

China On Securities used incorrect prices in contract notes and transferred shares to placees without first requiring payment.

CSRC, PBOC Reduce Budget Allocations for Staff Salaries

19/05/2023

The changes are part of a drive to reduce income disparity as well as a broader overhaul of the financial regulatory system announced in March.

Sanctions

Top EU Official Concerned by Russian Oil Flowing into Europe

18/05/2023

India is buying heavily discounted crude oil from Russia and selling full-priced refined products into Europe. Josep Borrell said the EU must act.

Crypto / Digital Assets

GFMA Report Details How DLT Will Benefit Capital Markets

18/05/2023

The report calls for market participants to proactively shape the future use of DLT and for policymakers to provide greater regulatory clarity.

Enforcement

Wells Fargo Agrees to Pay $1bn to Settle Class Action

18/05/2023

Shareholders accused Wells Fargo of overstating how well it was complying with 2018 consent orders from financial regulators.

Capital / Liquidity

APRA Finalises New Resolution Planning Standard & Guidance

18/05/2023

CPS 900 will formally come into effect from 1 January 2024, but individual entities would only be subject to the requirements when notified by APRA.

Capital / Liquidity

Swiss Parliamentary Commission to Investigate Credit Suisse Deal

18/05/2023

The investigation’s exact mandate and the membership of the commission will be decided in legislative sessions which begin on 30 May.