Resolution & Recovery

FSB Addresses Financial Stability Implications of Recent Bank Failures

29/03/2023

The FSB said its members have agreed to “review the lessons to be learned from the recent actions by authorities to resolve financial institutions”.

Structural Regulation

ASIC Fines ALT Financial Group for Failing To Lodge Financial Reports

29/03/2023

The fine was one of the largest ever issued by ASIC for failures to lodge financial reports. ALT Financial Group was convicted in absentia on 13 ASIC charges.

Anti-Bribery & Corruption

US Prosecutors Charge FTX Founder for FCPA Violation

29/03/2023

Sam Bankman-Fried allegedly bribed at least one Chinese official to secure the release of $1bn in frozen assets.

Trading & Investment

Credit Agricole Launches Investment Banking Unit in China

29/03/2023

The new investment banking unit will focus on cross-border M&A, encompassing purchases, disposals and capital raising.

Conduct, Culture & Accountability

FINMA May Discipline Credit Suisse Managers

29/03/2023

FINMA president Marlene Amstad said Credit Suisse had a cultural problem and made numerous mistakes over several years.

Payments & Settlements

CPMI Calls for Action to Boost PvP Adoption in FX Trades

29/03/2023

CPMI proposes steps private and public sector stakeholders can take to foster greater PvP adoption in FX trades to reduce settlement risk.

KYC & CDD

FinCEN Issues Guidance on Reporting Beneficial Ownership

29/03/2023

The guidance is intended to help businesses understand new beneficial ownership information reporting requirements that come into effect on 1 January 2024.

Trading & Investment

LME Resumes Asian Hours Trading in Nickel

29/03/2023

The LME hopes the expanded hours will boost nickel trading volumes, which were little changed on Monday.

Anti-Money Laundering

EU Lawmakers Agree New AML/CFT Rules

29/03/2023

Members of the European Parliament approved draft AML/CFT legislation, including plans for the new Anti-Money Laundering Authority.