International

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    Structural Regulation

    HSBC Planning Exit from Up to a Dozen Markets – Report

    By Editors | 25/05/2023

    It is not yet known which jurisdictions HSBC is considering exiting, but they are understood to be relatively small markets that may have underperformed.

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    Climate Risk

    NGFS Explores Short-Term Climate Scenarios

    By ESG Investor | 24/05/2023

    The NGFS is inviting modelling teams to participate and contribute to the development of short-term climate scenarios.

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    Cryptocurrency

    IOSCO Proposes First-Ever Global Regulations for Crypto Market

    By Ranamita Chakraborty | 24/05/2023

    The recommendations cover activities including offering, admission to trading, ongoing trading, settlement, market surveillance and custody, and retail distribution.

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    Clearing & Post-Trade

    LCH SwapClear Completes USD LIBOR to SOFR Conversion

    By Editors | 23/05/2023

    In aggregate, LCH SwapClear has successfully converted approximately 600,000 USD LIBOR contracts with notional value of $45tr.

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    Nature & Biodiversity

    G7 Leaders Committed to Tackling Biodiversity Crisis

    By ESG Investor | 22/05/2023

    The G7 will “identify incentives, including subsidies, harmful to biodiversity by 2025″.

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    PEPs & Sanctions

    G7 Allies Impose Expansive New Russia-related Sanctions

    By Manesh Samtani | 22/05/2023

    The US issued more than 300 new designations. The UK, Canada, and Japan also announced new sanctions.

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    Structural Regulation

    EU Commission Adopts MoU on UK Regulatory Cooperation

    By Mark Johnston | 21/05/2023

    The MoU is seen as a positive step, but it does not deal with access of UK and EU firms to each other’s markets or equivalence decisions.

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    Fraud, Scams & Cybercrime

    Report Warns of Elevated Digital Attacks Rate Throughout 2023

    By Sanday Chongo Kabange | 21/05/2023

    LexisNexis Risk Solutions published a new report showing a 50 percent year-on-year increase in APAC’s payment attack rate.

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    Model Risk

    WFE Highlights Challenges of Measuring CCP Margin Procyclicality

    By Editors | 20/05/2023

    The significant uncertainty in measurements means procyclicality mitigation tools can be miscalibrated, inefficient, or detrimental.

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    PEPs & Sanctions

    Price Cap Policy for Russian Oil is Working: US Treasury Report

    By Editors | 20/05/2023

    Oil revenues now account for 23 percent of the total Russian budget, compared to 30-35 percent before the war in Ukraine.

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