AML / KYC

Australia Saw 80pc YoY Jump in Scam Losses in 2022

18/04/2023

Australians lost more to scams than ever before in 2022. Losses per victim rose by more than 50% to an average of almost A$20,000.

Crypto / Digital Assets

US SEC Charges Crypto Firm Bittrex for Not Registering

18/04/2023

The SEC identified six Bittrex-listed crypto tokens as securities and said the company should have registered as a broker, exchange, and clearing agency.

Crypto / Digital Assets

US SEC Reopens Consultation to Redefine ‘Exchange’

18/04/2023

The proposed rule would update the definition of “exchange” to include crypto trading systems, including DeFi systems. Two SEC Commissioners dissented.

Securities / Derivatives

MAS: “Much Room for Improvement” in Issue Manager Conduct

18/04/2023

MAS identified issue managers that did not perform conflict-of-interest checks, background checks on EDs and controlling shareholders, and site visits to issuers’ material assets.

Crypto / Digital Assets

CME to Offer Additional BTC, ETH Options Expiries

18/04/2023

CME will offer expiries every business day to provide market participants with “greater precision and versatility” in managing short-term price risk.

Market Infrastructure

BOE, CFTC Strengthen Supervisory Cooperation on CCPs

18/04/2023

The Bank of England will rely on the CFTC for supervision and oversight of US-based CCPs offering clearing services in the UK.

Big Picture

AFME, FESE Call for Action on EU Consolidated Tape

17/04/2023

Ahead of EU trilogues on the MiFIR Review, AFME is highlighting the important role of systematic internalisers and FESE is calling for a PFOF ban.

Enforcement

US and Allies to Cooperate to Displace Russia from Nuclear Energy Market

17/04/2023

The US, UK, Canada, Japan and France will leverage their resources and capabilities to undermine Russia’s grip on supply chains.

Crypto / Digital Assets

Do Kwon Sent $7m to Law Firm Before Terra Collapse

17/04/2023

Korean prosecutors believe the transfer may suggest Do Kwon was aware of Terra’s impending collapse and was seeking to pre-empt the legal repercussions.