International

Market Infrastructure

G7 Close to Deal on Global Minimum Corporate Tax Rate

By Sanday Chongo Kabange | 24/05/2021

A US Treasury’s proposal to accept a global minimum corporate tax rate of 15% has reportedly been met with enthusiasm in Europe.

Securities / Derivatives

ESMA Recommends Lower Short Position Reporting Threshold

By Editors | 24/05/2021

ESMA says a “substantial amount” of essential information became available to NCAs after the notification threshold was lowered to 0.1% last year.

Enforcement

Nomura, UBS, UniCredit Fined for Participating in Trading Cartel

By Editors | 24/05/2021

During Europe’s sovereign debt crisis, the banks shared information about their EGB bidding and trading strategies in Bloomberg terminal chat rooms.

Market Infrastructure

CME Group to be Recommended as SOFR Term Rate Administrator

By Editors | 24/05/2021

A recommended SOFR term rate is now in clear sight, said Tom Wipf, ARRC Chairman and Vice Chairman of Institutional Securities at Morgan Stanley.

AML / KYC

Hong Kong to Bar Retail Investors from Crypto Trading

By Manesh Samtani | 24/05/2021

Hong Kong’s FSTB has issued consultation conclusions on the new licensing regime for VASPs and a new registration regime for precious metals dealers.

Capital / Liquidity

ISDA Calls for Uniform Approach to Risk Data Reporting

By Manesh Samtani | 22/05/2021

Regulators would have a greater degree of confidence in the consistency and accuracy of the risk data being collected if they used an established industry standard in their reporting requirements.

Enforcement

SEC Penalises S&P Dow Jones Indices for Disclosure Failure

By Ranamita Chakraborty | 22/05/2021

The SEC settled charges against S&P DJI for the dissemination of stale index values which resulted from an undisclosed quality control feature.

Big Picture

Infrastructure Critical for Successful CBDC Development – Report

By Sanday Chongo Kabange | 22/05/2021

A new report analyses the four axes of consideration for the design features of all CBDCs, as proposed by the IMF, and the implications each choice has on infrastructure.

Big Picture

CBDCs Present Central Banks with Risk-Benefit Trade-off: Fitch

By Sanday Chongo Kabange | 20/05/2021

The potential for funds to move quickly into CBDC accounts could cause credit strains in some banks and push up interest rates.