Simpson Thacher hires new co-head for European finreg practice

Travers Smith partner Stephanie Biggs is set to join Simpson Thacher & Bartlett’s London office.

25 January 2023

New Year’s resolution: South Korea plans digital securities framework

As South Korea celebrates the lunar new year, its securities regulator is preparing new regulations for tokenised securities issuance, as part of a capital markets regulatory overhaul planned for early February.

24 January 2023

“A great loss”: UK’s FSCB to shut up shop

The Financial Services Culture Board, the good-practices organisation for the UK’s financial sector which replaced the Banking Standards Board two years ago, is set to close.

24 January 2023

A blessing or a curse: tokenisation is finance’s number one operational risk, BdF’s Beau says

Tokenisation has the potential to jeopardise the stability of the entire financial system and is the “number one operational risk” to financial players, a senior French regulator has warned a New York audience, as he outlined his ambitions for DLT regulation in France.

23 January 2023

WilmerHale hires from New York Fed

WilmerHale has hired a 23-year veteran of the New York Fed as a partner in its New York office.

23 January 2023

MoFo hires from Bank of England

Bank of England senior adviser Sam Riley has joined Morrison Foerster as a partner in the firm’s London office.

20 January 2023

PRA’s policies already embrace competitiveness objective, BoE’s Bailey says

As the new competitiveness objective for the UK’s financial regulators inches closer to becoming law, Bank of England governor Andrew Bailey – once a public critic of the idea – has argued the Prudential Regulation Authority’s current activities already satisfy the objective.

20 January 2023

OCC’s Hsu threatens escalation against “too big to manage” bank repeat offenders

Acting US Comptroller of the Currency Michael Hsu has said decomplexifying “overgrown” and mismanaged banks is the only solution to “too big to manage” situations – warning of growth restrictions and divestiture orders for repeat offenders.

19 January 2023

US regulators approve BNP Paribas’ local unit sale to Canada’s BMO

After a year-long approval process, US federal regulators have greenlit the Bank of Montreal’s attempt to purchase BNP Paribas’ US operation, creating the 13th largest commercial bank in the United States.

19 January 2023

What’s in store for 2023? Part three: regional issues

Some of the regulatory issues banks will face in 2023 cut across borders, but not all. In this final part of GBRR’s examination of the year to come, we asked practitioners in the US, UK, Singapore, and Hong Kong how local issues will play out over the next 12 months.

18 January 2023

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