Fed names six banks for its “not a stress test” climate scenario exercise

Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo are set to undertake next year’s pilot climate scenario exercise with the Federal Reserve – but it’s definitely not a stress test, the central bank has insisted.

04 October 2022

Barclays’ control deficiencies over securities blunder were “simply staggering”, says SEC

The US Securities and Exchange Commission (SEC) has issued a warning to other banks employing similar shelf registration practices to Barclays, after it reached a US$361 million settlement with the UK bank over its recent securities over-issuance.

03 October 2022

“Those lawless days are coming to a close": EU commissioner speaks out on MiCA and digital euro

European Commissioner Mairead McGuinness has pledged an end to the "Wild West" of EU crypto regulation after the last year's volatility in crypto markets.

03 October 2022

Practitioners welcome overhauled Abu Dhabi capital markets framework

The Abu Dhabi Global Market’s financial regulator has revised its capital markets framework to include environmental instruments, virtual assets, spot commodities, securities, and derivatives.

29 September 2022

“Blatant regulation by enforcement”: CFTC commissioner dissents in first DAO enforcement case

The United States’ derivatives regulator has filed its first civil claim against a DAO for alleged violations of the Commodities Exchange Act.

29 September 2022

Competitiveness objective won’t interfere with the main job, UK regulators insist

UK regulators’ new statutory objective of pushing the country’s international competitiveness won’t conflict with their primary objective of ensuring safety and soundness, Prudential Regulation Authority executive director Vicky Saporta has insisted, as she argued against “regulatory races to the bottom to win business”.

28 September 2022

Barclays faces class action over excess securities sale

Barclays is facing a class action lawsuit over its recent sale of around US$17.64 billion of unregistered securities, as the bank’s talks with the US Securities and Exchange Commission over the blunder continue.

28 September 2022

Former City minister to keynote first-ever GBRR Live

The UK’s longest-serving City minister, John Glen MP, will be joining speakers from Linklaters, Allen & Overy, Mizuho, ING, Shearman & Sterling, Freshfields and Citi at the inaugural GBRR Live, to be held next month in London.

28 September 2022

What’s next for the SRM?

The European Union’s Single Resolution Mechanism should expand its focus beyond G-SIBs, the governor of the Bank of France has told the annual conference of the SRM’s institutional hub – but how exactly would that work?

26 September 2022

Republicans lash out at “troubling” ESG trends at annual bank CEO hearing

The CEOs of the seven biggest US retail banks have faced questions over their ESG-focused initiatives and a spate of user account frauds at P2P network Zelle, in their annual grilling before the US Senate’s banking committee.

26 September 2022

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