Topic: Bank regulation

Stablecoins must be regulated like banks, Bank of England says

Stablecoins must be heavily regulated – including potentially authorised as banks – the Bank of England has recommended, as it continues to explore potential for central bank digital currencies.

09 June 2021

Fragmentation concerns raised over EU’s climate disclosure approach

Japanese and US banking industry bodies have warned that ambitious EU moves towards sustainability disclosures – including a newly-finalised taxonomy and new standards for Pillar 3 disclosures – risk creating a fragmented global framework and “exporting” its model to non-EU institutions.

07 June 2021

FCA extends crypto registration deadline amid money laundering concerns

The UK’s Financial Conduct Authority has extended the temporary registration deadline for cryptoasset businesses, after the majority of applicants failed to meet anti-money laundering standards.

04 June 2021

French regulator’s liquidity contracts proposals threaten market confidence, ESMA says

The EU’s securities regulator has criticised proposed Market Abuse Regulation exemptions issued by France’s Financial Markets Authority, citing concerns that limits on volume and resources would undermine market confidence.

02 June 2021

US banks defend themselves against “wokeism” charges

The CEOs of the six largest US banks have defended themselves from accusations that “stakeholder capitalism” was drawing their institutions into political meddling, in testimony before two US congressional committees.

28 May 2021

Brazil to develop digital currency plans

Brazil’s central bank has released guidelines for a digital real, promising further change to the country’s payments landscape after its approval of WhatsApp Pay and the introduction of a local digitised payments system.

26 May 2021

Hong Kong to drop local incorporation requirement for VASP licensees

Following industry pushback, Hong Kong’s government has proposed a compromise on plans to require a “local anchorage” for virtual asset service providers seeking a licence in the territory, as part of an update to its anti-money laundering framework.

24 May 2021

CBR revisits Russia’s market manipulation framework

Russia’s central bank has expanded the list of actions it characterises as market manipulation, as it sets out details of a new plea deal mechanism for such cases.

21 May 2021

Trump-era CRA ruling to be reconsidered under new acting comptroller

The Office for the Comptroller of the Currency has promised to reconsider changes it announced last year to its implementation of the Community Reinvestment Act eight days after Michael Hsu took office as acting comptroller of the currency.

19 May 2021

Greensill meltdown calls for stricter non-bank rules, FCA chief says

The head of the UK’s Financial Conduct Authority has stressed the need for a regulatory regime that shines a light on non-bank interaction with regulated activities, as he announces formal investigations into collapsed supply chain financing group Greensill.

14 May 2021

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