Global Banking Regulation Review

ECJ strikes down public access to beneficial ownership register

The EU’s top court has overturned a provision of the EU’s anti-money laundering directive that would grant public access to beneficial ownership registers on privacy grounds.

New CCP guidelines mark EU’s post-Brexit fight for clearing competitiveness

The EU’s securities regulator has finalised its guidelines for resolution regimes for EU-based clearing houses, as the European Commission prepares a reform package aimed at boosting its competitiveness in the clearing space.

News in Brief – week ending 25 November 2022

This week’s NIBs see the SEC’s chief accountant defend its accounting guidance for crypto holding firms following the FTX collapse, a new reporting resource from ISDA, proposed ESMA rules on the names of sustainability-linked funds, and new EBA guidelines on remote onboarding.

Banks should be able to issue stablecoins without specific approval, Sullcrom memo argues

US federal regulators should not bar banks from issuing stablecoins, according to a white paper prepared by Sullivan & Cromwell, which argues banks already have all the statutory authority they need in …

New ESMA passporting proposals target aggressive marketing

The European Securities and Markets Authority has proposed new standards for cross-border passporting, after national regulators complained of “aggressive” marketing activities in their jurisdictions from investment firms located elsewhere in the EU …

FTX failure bolsters “same risk, same regulation” argument, UK regulator says

The Bank of England’s deputy governor for financial stability Jon Cunliffe has spoken out about how the collapse of crypto exchange FTX will impact the UK’s plans for crypto regulation – while …

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From Lexology

The ESAs launch a "Call for Evidence" on Greenwashing practices in Europe

Concurrently to the growth of ESG-focused investments and sustainability disclosure regulations in the European market, the risk of greenwashing…

Three Crypto firsts for the English courts: the imposition of a constructive trust between a crypto exchange and a victim of crypto fraud, an order for delivery up of Bitcoin, and summary judgment served by NFT airdrop

The recent judgment handed down in Jones v Persons Unknown [2022] EWHC 2543 (Comm) shows the English courts' continued willingness to push the…

Banking Regulators Testify on Economic and Regulatory Developments

In separate hearings (see here and here), the Senate Banking Committee and the House Financial Services Committee heard testimony on economic and…

Singapore High Court recognises NFTs as a form of property

On 21 October 2022, the Singapore High Court published the grounds for its decision in Janesh s/o Rajkumar v Unknown Person (“CHEFPIERRE”) [2002]…

Editor's picks

AI: Should we bank on it?

While banks and fintechs have steeped themselves in artificial intelligence for nearly a decade, regulators and governments are only now beginning to tackle the subject. GBRR spoke to practitioners from CMS, Deloitte, London Stock Exchange Group and AI governance platform Holistic AI, about how banks are using AI, how they will be using it, and what they can expect from their regulators.

Meet the regulator: José Manuel Campa, chair of the European Banking Authority

In the first of GBRR’s series of regulator interviews, we spoke with European Banking Authority chair José Manuel Campa about the changing regulatory landscape, the challenges of an ever more integrated financial system, and a holistic approach to regulation.