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United States
Liquidity Risk
US Regulators, Banks Agree Rescue Deal for First Republic Bank
By Manesh Samtani | 16/03/2023
Eleven banks will deposit $30bn into regional lender First Republic Bank, which has suffered credit downgrades and stock price declines in recent days.
Cybersecurity
US SEC Proposes New Requirements to Address Cyber Risks
By Editors | 16/03/2023
The proposals will enhance cyber and technology risk management requirements for key entities that underpin the US securities market.
Sustainable Finance
Thailand to Allow SMEs Issue Sustainability-Themed Bonds
By Editors | 16/03/2023
Regulatory amendments will enable small “businesses of all types and sizes” to offer sustainability-themed bonds.
Fraud, Scams & Cybercrime
US Charges Exiled Chinese Businessman with $1b Fraud Scheme
By Editors | 16/03/2023
Guo Wengui and his financial adviser allegedly cheated thousands of investors since 2018 by promising outsized returns on various offerings.
Payments & Settlements
US Announces July Launch Date for FedNow Service
By Editors | 16/03/2023
The Federal Reserve said it will begin the formal certification of participants for launch of the FedNow Service in the first week of April.
Anti-Money Laundering
US, German Authorities Coordinate on Takedown of Crypto Mixer
By Editors | 16/03/2023
Authorities dismantled ChipMixer’s infrastructure and seized four servers, about USD 46 million worth of bitcoin, 7 TB of data, two domains, and a Github account.
Clearing & Post-Trade
DTCC Offers New Tool to Facilitate LIBOR Transition
By Editors | 16/03/2023
Widespread usage of the tool will be “an important component to help ensure a successful transition,” said Tom Wipf, who chairs the ARRC.
Reporting & Disclosures
New Zealand Considers Climate Reporting Exemptions for Secondary Listed Issuers
By Sanday Chongo Kabange | 15/03/2023
The exemptions seek to reduce compliance costs for foreign exempt issuers that already produce similar reporting in their home jurisdiction.
Fraud, Scams & Cybercrime
US OCC Fines Ex-Wells Fargo Exec for Sales Misconduct
By Editors | 15/03/2023
Carrie Tolstedt was not required to admit or deny the OCC allegations, but she faces up to 16 months in prison under a plea agreement with federal prosecutors.
Market Abuse
US Prosecutors Probe Possible Terra Manipulation by Trading Firms
By Editors | 15/03/2023
SDNY prosecutors are said to be looking into Telegram chats among employees at Jump Trading and Jane Street from last May.
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