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United States
Big Picture
US Super-Regional Banks Bore the Brunt of SVB Failure: NY Fed
By Mark Johnston | 12/05/2023
Deposit withdrawals after SVB’s failure were limited to around 30 super-regional banks, according to a new study by the NY Fed.
ESG / Sustainability
US Fed Governor Questions Need for Special Focus on Climate Risk
By Mark Johnston | 12/05/2023
Climate change is real, but not a serious risk to financial stability, Fed Governor Waller said in a speech in Madrid.
Market Infrastructure
PCAOB Publishes Findings from Audit Inspections of Chinese Firms
By Editors | 12/05/2023
The PCAOB said it found an “unacceptable rate” of deficiencies in the KPMG and PwC audits of US listed Chinese companies it reviewed last year.
Enforcement
HSBC, Scotia Fined for Use of Unapproved Messaging Tools
By Editors | 12/05/2023
Employees, including those at senior levels and in compliance roles, used unapproved messaging tools to engage in business-related communications.
Crypto / Digital Assets
IRS, Chainalysis Team Up to Support Ukraine Law Enforcement
By Editors | 11/05/2023
The IRS is sponsoring Ukraine’s access to a Chainalysis blockchain analysis tool and also organising cyber training sessions.
FSB Assessing Role of Social Media in Bank Failures
By Sanday Chongo Kabange | 11/05/2023
Head of financial stability analysis Costas Stephanou said the FSB plans to issue a detailed report on its findings later in 2023 or next year.
Crypto / Digital Assets
Ex-Coinbase Employee Sentenced to Jail for Insider Trading
By Editors | 11/05/2023
The former Coinbase product manager was sentenced to two years in prison for feeding his brother and a friend information about upcoming crypto listings.
ESG / Sustainability
Goldman Sachs Settles Gender Bias Lawsuit for $215m
By Editors | 11/05/2023
The settlement requires Goldman to hire independent experts to analyse its gender pay gaps and performance evaluation and career advancement processes.
Crypto / Digital Assets
Bankrupt FTX Affiliate Alameda Research Hit with $44b Tax Bill
By Mark Johnston | 10/05/2023
In bankruptcy proceedings, the IRS claims would take precedence over those of unsecured creditors, including FTX’s one million users.
Market Infrastructure
Philippine SEC Issues Guidelines on Financial Instrument Identifiers
By Editors | 09/05/2023
The SEC issued guidelines on the allocation of ISIN, CFI and FISN codes to financial instruments in the Philippines.
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