Capital / Liquidity

US Lender PacWest Facing Lawsuit Despite Securing Lifeline

27/03/2023

Regional bank PacWest secured $1.4bn in additional liquidity via Atlas SP Partners, an investment firm launched out of Credit Suisse’s securitised-products group.

Enforcement

US DOJ Arrests and Charges Founder of Hacker Forum

25/03/2023

BreachForums is one of the world’s largest marketplaces for hacked and stolen data and other contraband.

AML / KYC

Credit Suisse, UBS Under US Sanctions Probe – Report

24/03/2023

Credit Suisse and UBS were included in a wave of subpoenas sent out by the DOJ before their merger agreement was announced.

Crypto / Digital Assets

UPDATED – Terraform Labs Founder Do Kwon Arrested and Charged

24/03/2023

Do Kwon was arrested in Montenegro. SDNY prosecutors released an indictment and will seek his extradition to the US.

Fintech / Regtech

ESMA Goes Live With New DLT Pilot Regime

23/03/2023

Firms can apply for permission to operate DLT-based market infrastructures and receive exemptions from the MiFIR, MiFID II and CSDR.

Enforcement

Australia: Ex-Tesla Director Sentenced for Insider Trading

23/03/2023

Tesla’s Australia director used confidential information to profit from buying and selling Piedmont Lithium shares on the ASX.

ESG / Sustainability

WFE Publishes Framework for Designating Equities as Green

23/03/2023

WFE members created a global framework for defining green equities, which will enable sustainability-focused investors to make more informed decisions.

Crypto / Digital Assets

FASB Opens Consultation on New Crypto Accounting Standard

23/03/2023

Fair value accounting will more accurately reflect the underlying economics of crypto assets and provide more decision-useful information.

Capital / Liquidity

BCBS to Assess Financial Stability Risks of Higher Interest Rates

23/03/2023

The BCBS will also consult on revisions to its Core principles for effective banking supervision and on a Pillar 3 disclosure framework for climate-related financial risks.