Enforcement

Compensation for Poor Advice Reaches A$4.7b: ASIC

14/03/2023

As of end December, the major banks paid or offered to pay almost AUD 4.7 billion (USD 4.2 billion) in compensation to over 1.6 million customers.

Fintech / Regtech

Korea May See ATS Platforms Launch Within This Year

14/03/2023

Applications for preliminary accreditation will be accepted between 27-30 March. Once authorisation is granted, firms will have six months to launch.

Fintech / Regtech

ICMA Releases New Bond Data Taxonomy

14/03/2023

The Taxonomy will enable firms to more easily leverage new technologies, streamline issuance and post-trade operations, and exchange data.

Crypto / Digital Assets

CFTC Unveils Newly Constituted Tech Advisory Committee

14/03/2023

Carole House from Terranet Ventures and Ari Redbord from TRM Labs will serve as committee chair and vice chair, respectively.

Capital / Liquidity

US Fed to Consider Tightening Rules for Midsized Banks

14/03/2023

The Federal Reserve will review capital, liquidity and stress testing requirements it imposes on mid-sized lenders.

Enforcement

SFC Fines Brokerage for 2015 System Testing Incident

14/03/2023

I-Access Investors incorrectly used data from system testing as production data and inadvertently triggered 27 stop loss sell orders by 12 clients.

ISLA Releases New Templates for GMSLA Documentation

14/03/2023

ISLA and Linklaters collaborated to develop new GMSLA templates, covering default events, termination notices, and amendment agreements.

Capital / Liquidity

HSBC Acquires Silicon Valley Bank’s UK Unit for £1

14/03/2023

HSBC expects the deal to be profitable, strengthen its commercial banking franchise, and enhance its ability to serve innovative firms.

Enforcement

LBMA to Probe Perth Mint ‘Gold Doping’ Allegations

14/03/2023

Adverse findings under LBMA’s incident review process can result in refiners being struck off the Good Delivery List.