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United States
Crypto / Digital Assets
Accounting Firms Face Potential Liabilities in Crypto Audits: SEC Official
By Manesh Samtani | 30/07/2023
SEC Chief Accountant warns accounting firms of potential legal liabilities when auditing crypto firms, stressing the importance of auditor independence.
Crypto / Digital Assets
US Lawmakers Advance Bill on Stablecoin Regulation
By Editors | 29/07/2023
The ‘Clarity for Payment Stablecoins Act’ would have the Fed write requirements for issuing stablecoins but still preserve the authority of state regulators.
ESG / Sustainability
FSOC Meeting Highlights Urgent Need to Address Climate Risks
By Editors | 28/07/2023
Gary Gensler said the SEC will consider “appropriate” adjustments to its proposed climate risk disclosure framework.
Capital / Liquidity
US Regulators Propose Stricter Rules on Bank Capital
By Manesh Samtani | 28/07/2023
Fed governor Michelle Bowman said there is “insufficient evidence” that the benefits produced by the proposals would justify the costs.
Enforcement
BNP Paribas Braces for Fine Over Unauthorised Messaging Usage
By Editors | 28/07/2023
BNP Paribas said in its mid-year earnings report that it expects a fine from the CFTC and SEC.
Crypto / Digital Assets
US Lawmakers Advance Bills to Create Regulatory Clarity for Crypto
By Manesh Samtani | 27/07/2023
The ‘Financial Innovation and Technology for the 21st Century Act’ has now advanced in key committees in the US House of Representatives.
Big Picture
Publicly Traded Companies Globally Fall Short in Codes of Conduct: Study
By Ranamita Chakraborty | 27/07/2023
LRN’s study on 200 top-traded companies in Asia, Europe and North America found that only 17 percent of them had highly effective codes of conduct.
Big Picture
US Govt Accountability Office Calls for Federal Oversight of Crypto Sector
By Editors | 27/07/2023
GAO report reveals significant regulatory gaps in crypto asset oversight, recommending comprehensive federal intervention to mitigate blockchain-related risks.
AML / KYC
US Agencies Call on Firms to Self-Disclose Sanctions Violations
By Editors | 27/07/2023
Self-reporting of sanctions and export controls violations make companies potentially eligible for “significant mitigation”.
Capital / Liquidity
FDIC Directs Banks to Fix Incorrectly Reported Uninsured Deposits
By Mark Johnston | 26/07/2023
The FDIC said some banks are understating uninsured deposits by excluding those backed by collateral, which is “incorrect”.
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