DeFi & Web3

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.

Conduct, Culture & Accountability

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.

Cryptocurrency

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.

Clearing & Post-Trade

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.

Market Data & Technology

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.

Climate Risk

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.

Fraud, Scams & Cybercrime

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.

Anti-Money Laundering

Australia Revisits ‘Tranche 2’ AML Reforms – Report

17/04/2023

The government is expected to settle its position on AML reforms this month that could cover the real estate, accounting and legal professions.

Structural Regulation

Korea to Ease Rules on Overseas Business by Certain Securities Firms

17/04/2023

The revisions will enable overseas subsidiaries of “comprehensive financial investment service providers” to provide corporate credit in overseas markets more easily.