United States

Market Infrastructure

US CHIPS Network Completes Migration to ISO 20022

By Editors | 11/04/2024

The CHIPS network, operated by The Clearing House, has become the first high-value payment system in the US to adopt ISO 20022.

Capital / Liquidity

EU May Adjust Bank Capital Rules to Ensure Competitiveness

By Nithya Subramanian | 11/04/2024

The European Commission could adjust bank capital requirements to maintain a level-playing field internationally for EU banks.

Securities / Derivatives

SFC Issues Guidance on Offering Hong Kong Funds in UAE

By Mark Johnston | 11/04/2024

The SFC published an information sheet providing guidance on how Hong Kong funds can be offered to investors in the DIFC and the UAE more broadly.

Securities / Derivatives

US Treasury Proposes Rules for New Stock Buyback Excise Tax

By Editors | 10/04/2024

Corporations that undertake stock buybacks will have to pay a 1% excise tax on the fair market value of net repurchased shares during a tax year.

Sanctions

US Treasury Official Calls for Expanded Tools to Target Crypto

By Manesh Samtani | 10/04/2024

Without Congressional action, the use of virtual assets by terrorists, ransomware actors and rogue nations will only grow, said Wally Adeyemo.

AML / KYC

US Prepared to Sanction Chinese Banks That Aid Russian Military

By Editors | 09/04/2024

Janet Yellen said the US stands ready to act against “anything that involves aiding Russia’s military in their brutal war”.

ESG / Sustainability

Citi, JP Morgan, RBC Agree to Disclose ‘Energy Supply Ratios’

By Nithya Subramanian | 09/04/2024

The three banks agreed to disclose their financing ratio of low-carbon energy to fossil fuels, the New York City Comptroller confirmed.

AML / KYC

US Treasury and PBOC to Conduct Joint Financial Shock Exercises

By Manesh Samtani | 09/04/2024

The exercises will help establish lines of communication between US and Chinese regulators and identify areas of potential cross-border contagion and other risks.

Crypto / Digital Assets

Google Sues Crypto Scammers Over Fraudulent Apps

By Nithya Subramanian | 09/04/2024

Google said it is the first tech company to take action against crypto scammers, and that it is doing so as a way to establish legal protections for users.