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Hong Kong moves forward on new crypto regime

Hong Kong’s de facto central bank has confirmed a 2023/2024 date for implementation of its forthcoming crypto regime, as market participants call on it to pursue demanded a more coordinated approach with other regulators.

06 February 2023

IOSCO revises commodity derivatives principles amid market volatility

The International Organization of Securities Commissions has revised its 12-year-old principles for commodity derivatives regulators, to cover unexpected disruptions from war, shifts in financial practices and the proliferation of new trading venues.

06 February 2023

Commission’s EMIR 3.0 plans “harmful to capital markets”, ISDA says

ISDA and three other industry bodies have told the European Commission its “EMIR 3.0” plans – including a requirement for an active EU-based CCP account from firms subject to the EU clearing obligation – will make EU firms less competitive.

03 February 2023

Ex-Deutsche trader sues bank and former colleagues over Libor prosecution

A former Deutsche Bank trader whose conviction for manipulating Libor was thrown out in 2022 has sued the bank and three ex-colleagues who assisted the government’s case against him.

03 February 2023

EBA toughens up its stress test

The European Banking Authority has launched its biennial EU-wide stress test, which it says is its toughest to date and which experts say is even tougher than expected.

02 February 2023

Sidley and Greenberg Traurig hire Reed Smith partners

Two Reed Smith partners have decamped the firm in London and Hong Kong.

02 February 2023

UK’s crypto sector braces for “regulatory wave” following Treasury proposals

The UK government has published its long-awaited plans to regulate the crypto sector – with proposals on prudential, data reporting, operational resilience and consumer protection which it says are intended to be consistent with those of traditional financial services.

01 February 2023

Indonesia’s regulators granted new powers amid independence concerns for central bank

Indonesia’s sweeping new 800-page financial services law includes new powers for the Financial Services Authority, a reclassification of digital assets as securities, new concepts for securitisation market, and legal recognition of the country’s new central bank digital currency - but it has also prompted concerns over the central bank’s future independence.

01 February 2023

SEC tries again on ABS conflicts

Over a decade after its initial attempt, the US Securities and Exchange commission has attempted to come through on its Dodd-Frank mandate to prevent conflicts of interest in the asset-backed securities market, but prompted questions over the breadth of their scope.

31 January 2023

“Complex and costly” regulation holds back EU growth, industry body says

A review of the current capital requirements and supervisory processes could provide capacity for approximately €4 trillion in additional bank lending, a study conducted by banking lobby group the European Banking Federation suggests. The European Central Bank disagrees.

31 January 2023

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