News

How will regulators grapple with crypto in 2023, after one of the rockiest years in the industry’s short history? In the first of three pieces examining what 2023 has in store for banking regulation, GBRR spoke with practitioners from Europe, the United States, Singapore and Hong Kong about the road ahead for crypto.

09 January 2023

The US “banking as a service” fintech BMTX has terminated its second merger attempt with a Seattle-based community business bank, citing prolonged regulatory processes as the cause.

06 January 2023

The crypto exchange Coinbase has reached a US$100 million settlement with New York regulators over “significant failures” in its due diligence and anti-money laundering policies.

06 January 2023

After a year marked by high-profile crypto failures, three US federal regulators kicked off the new year with a “shot across the bow” warning to banks against the risks associated with crypto-assets – their first ever unified statement on the subject.

05 January 2023

Hogan Lovells’ 2023 promotions round has included new financial regulatory partners in London and Washington, DC, and new counsel in Paris and Rome.

05 January 2023

The US Securities and Exchange Commission’s general counsel Dan Berkovitz is stepping down, just over a year after he joined the regulator from the Commodity Futures Trading Commission.

04 January 2023

For the second time in three months, Germany’s financial regulator has imposed capital measures on Standard Chartered for what it calls flaws in the bank’s business organisation.

04 January 2023

The US Consumer Financial Protection Bureau has hit Wells Fargo with a record fine following what the regulator called an “ongoing pattern of repeat offences” – as its director Rohit Chopra warned the sector as a whole to expect the regulator to use more aggressive measures in 2023.

22 December 2022

New York’s state Department of Financial Services has proposed new guidance to help banks curb their climate-related risks – but warned them not to engage in “climate redlining” by disinvesting from low-income communities in the green transition.

22 December 2022

UK bank TSB has accepted an eight-figure fine for operational risk management and governance failures connected to an IT migration following its takeover by Spanish banking group Sabadell, labelled a "stark reminder of the consequences of badly-executed change".

21 December 2022