News

ECJ strikes down public access to beneficial ownership register

The EU’s top court has overturned a provision of the EU’s anti-money laundering directive that would grant public access to beneficial ownership registers on privacy grounds.

24 November 2022

New CCP guidelines mark EU’s post-Brexit fight for clearing competitiveness

The EU’s securities regulator has finalised its guidelines for resolution regimes for EU-based clearing houses, as the European Commission prepares a reform package aimed at boosting its competitiveness in the clearing space.

24 November 2022

News in Brief – week ending 25 November 2022

This week’s NIBs see the SEC’s chief accountant defend its accounting guidance for crypto holding firms following the FTX collapse, a new reporting resource from ISDA, proposed ESMA rules on the names of sustainability-linked funds, and new EBA guidelines on remote onboarding.

24 November 2022

Banks should be able to issue stablecoins without specific approval, Sullcrom memo argues

US federal regulators should not bar banks from issuing stablecoins, according to a white paper prepared by Sullivan & Cromwell, which argues banks already have all the statutory authority they need in order to do so.

23 November 2022

New ESMA passporting proposals target aggressive marketing

The European Securities and Markets Authority has proposed new standards for cross-border passporting, after national regulators complained of “aggressive” marketing activities in their jurisdictions from investment firms located elsewhere in the EU single market.

23 November 2022

FTX failure bolsters “same risk, same regulation” argument, UK regulator says

The Bank of England’s deputy governor for financial stability Jon Cunliffe has spoken out about how the collapse of crypto exchange FTX will impact the UK’s plans for crypto regulation – while giving details on the central bank’s plans for a systemic payment systems regulatory regime and a digital pound.

22 November 2022