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Trading & Investment
FSB Offers LIBOR Transition Update, Warns of ‘Residual Risks’
By Manesh Samtani | 19/12/2022
Regulators continue to express concerns that the use of Term SOFR and credit sensitive rates could draw away liquidity from the overnight SOFR derivatives markets.
PEPs & Sanctions
US, EU Announce Additional Sanctions Against Russia
By Editors | 19/12/2022
The US imposed new sanctions against Russian FIs and the country’s richest businessmen. The European Council adopted a ninth sanctions package against Russia.
PEPs & Sanctions
US Adds Chinese Chipmakers, AI Firms to Trade Blacklist
By Editors | 19/12/2022
The move builds on new export controls announced in October, which were designed to prevent the transfer of advanced technology to China’s military, intelligence and security services.
Market Data & Technology
ICE Opens Access Centres in Hong Kong, Shanghai, Tokyo
By Editors | 18/12/2022
ICE says the enhanced connectivity includes ultra-low-latency access to exchanges in Hong Kong, Shanghai and Tokyo.
Anti-Money Laundering
FinCEN Proposes Rules on Access to Beneficial Ownership Information
By Editors | 18/12/2022
The proposed rule also sets out requirements for institutions to have systems and controls to securely store beneficial ownership information and limit its access.
Market Abuse
US SEC, DOJ Charge Social Media Influencers for Securities Fraud
By Mark Johnston | 18/12/2022
Eight individuals are accused of engaging in a conspiracy to commit securities fraud through a social media-based “pump and dump” scheme.
Trading & Investment
US SEC Proposes Major Rule Changes to Improve Market Fairness
By Editors | 18/12/2022
The proposals include a new best execution regulatory framework, a new order competition rule, and requirements for brokers to provide better disclosures on execution quality.
Structural Regulation
US Regulators Deem Audit Inspections of Chinese Firms a Success
By Manesh Samtani | 16/12/2022
The PCAOB did identify some deficiencies in their inspection work, but it was able to view complete audit work papers with no redactions.
Structural Regulation
NYSE, Nasdaq Expected to See More Capital Raises via Direct Listings
By Mark Johnston | 16/12/2022
The SEC is expected to permit the NYSE to ease its rules for direct listings, after a similar approval was granted to Nasdaq earlier this month.
Anti-Money Laundering
Danske Bank to Pay $2bn to Resolve DOJ, SEC Probes
By Sanday Chongo Kabange | 15/12/2022
Danske Bank admitted to allowing high-risk non-resident customers from other countries including Russia to use its Estonia branch to access US banks.
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