Joe Biden has defeated Donald Trump to become the United States’ next president – triggering an overhaul of the federal government and its regulatory agencies. What can banking regulation practitioners around the world expect from the new administration?
19 November 2020
US president-elect Joe Biden has named former CFTC chair Gary Gensler to head up a task force charged with organising the handover of power at the United States’ financial regulatory agencies – with figures specialising in fintech and corporate governance among the new team members.
11 November 2020
As German financial regulator BaFin awaits a drastic overhaul of its supervisory powers, the European Securities and Markets Authority has criticised it and accounting watchdog FREP for their “unaligned” handling of the Wirecard accounting scandal.
05 November 2020
New York’s Department of Financial Services has called for social media companies to be regulated as systemically important institutions, saying a July hack of multiple public figures’ Twitter accounts raised serious cybersecurity concerns.
15 October 2020
The G7 economies have said that no global stablecoin should begin operations “until it is properly regulated”, after several financial technology companies and think-tanks urged the Financial Stability Board to alter its view of their risks.
14 October 2020
Central banks representing all of the G7 economies have published an outline of basic principles for developing digital versions of their currencies – emphasising a safety-first approach but also outlining the range of choices each would have to make should it pursue the project.
12 October 2020
Bank of England governor Andrew Bailey has urged caution on stablecoin initiatives, saying multi-currency ‘baskets’ are the “wrong place to start”.
08 September 2020
O’Melveny & Myers partner Stevan Bunnell has joined Facebook’s cryptocurrency project Libra as chief legal officer, while the European Securities and Markets Authority has nominated members for the central counterparties supervision committee formed under last year’s EMIR revision.
04 September 2020
Australia’s securities regulator has issued guidelines to assist with its new “enhanced” regulatory sandbox, which is set to come online next week.
26 August 2020
Artificial intelligence and machine learning have rapidly grown in importance during the covid-19 pandemic, say speakers at a recent Bank of England webinar – but a report issued the same day by a group of Hong Kong regulators said new types of risk arising from the use of the technologies may require new types of macroprudential regulation.
24 August 2020
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