Topic: Bank regulation

Circle sets sights on federal charter

US fintech Circle is attempting to obtain a US federal bank charter, citing frustrations at third party chains slowing its operations.

11 August 2021

Houlihan Lokey set to acquire Japan’s GCA, with Latham and MoFo advising

Latham & Watkins and Morrison & Foerster are advising on Houlihan Lokey’s planned acquisition of Tokyo-based investment bank GCA, set to create of one of the world’s largest M&A-focused institutions.

05 August 2021

Big techs could get “systemically important” tag, BIS says

The Bank for International Settlements has called for closer regulatory scrutiny of big techs offering payment services, opening the door to some being labelled as systemically important.

04 August 2021

EBA seeks to centralise AML compliance norm-setting

The EBA has proposed new guidelines that lay out its expectations of firms’ anti-money laundering compliance officers, set to be the first of their kind and which it says will streamline compliance across the EU.

04 August 2021

SEC hints at forthcoming climate disclosure rules

SEC chair Gary Gensler has promised widely anticipated climate disclosure rule proposals will arrive this year and will move beyond the existing TCFD framework.

02 August 2021

MAS and ECB the latest to scrap dividend restrictions

Singapore’s regulator has lifted a pandemic-era dividend cap, one of the last regulators to do so after the ECB removed its restrictions late last week.

29 July 2021

UK-based foreign banks face new information rules

The Prudential Regulation Authority has made changes to proposed regulations for international banks operating in the UK after consultation feedback urged against burdensome information requirements.

28 July 2021

FRC critiques “unacceptable” KPMG bank audits

The Financial Reporting Council’s annual review of the UK’s audit sector has highlighted “specific concerns” over the quality of KPMG’s bank audits for the third year running.

26 July 2021

Supreme Court petitioned to block SEC “power grab”

The Securities and Exchange Commission overstepped its statutory authority when it enforced anti-money laundering regulations in the Bank Secrecy Act, according to a petition before the US Supreme Court.

22 July 2021

AML gets a new face

The EU is set to get a new anti-money laundering authority, a single EU rulebook, and tightened oversight of cryptocurrency transactions as part of a package of wide-spreading proposals to reform the its AML controls.

21 July 2021

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