Fed’s Quarles to step down from top regulatory role

The US Federal Reserve has said that Randal Quarles will not continue in his role as head of its banking regulation committee, which is set to continue “unchaired” for now.

13 October 2021

Davis Polk advising on Regions Bank acquisition in US

Alabama-based Regions Bank has agreed to purchase financial services firm Sabal Capital Partners, as it aims to increase its presence in the commercial mortgage-backed securities loan market.

11 October 2021

NatWest admits criminal money laundering failures

NatWest faces a £340 million fine after the UK lender pleaded guilty in a London court to breaching anti-money laundering regulations between 2012 and 2016.

11 October 2021

“Regulatory underlaps”: FSB stablecoin report warns of fragmentation

The Financial Stability Board has warned that stablecoin regulation is becoming too fragmented as countries take divergent approaches, which is creating “underlaps” of oversight.

11 October 2021

Heads Up: with Damian Carolan at Allen & Overy

“There are not a lot of people who are cut out for this”: In the first of a two-part interview with A&O’s UK head of financial regulation Damian Carolan, he discusses innovation, the importance of a global network, and what he thinks marks out the top-tier regulatory practices from the also-rans.

07 October 2021

Regulate stablecoins as traditional payment systems, bodies say

Two global bodies have set out standards for stablecoins, proposing to regulate them like other financial market infrastructure such as payment systems and clearing houses.

06 October 2021

“Real impact”: US Fed watchdog confirms trading probe

The United States Federal Reserve’s watchdog has commenced a probe into whether senior officials broke any laws by trading during the pandemic, as two senators call for separate SEC and Congressional investigations into whether the central bank’s vice chair engaged in insider trading.

06 October 2021

FCA widens definition of legacy contracts for synthetic Libor

The UK’s Financial Conduct Authority has set out plans for its “synthetic” version of the Libor benchmark as its end date approaches, and clarified which contracts will be permitted to use it.

04 October 2021

Singapore’s MAS grants first crypto licences

Singapore’s regulator has granted crypto licences - among the first in the country - to south-east Asia’s largest bank and an Australian digital asset exchange, as Binance confirms it will halt most of its Singaporean operations.

04 October 2021

CFTC’s Berkovitz reunites with Gensler at SEC

The US Securities and Exchange Commission has named its new general counsel – the Commodity Futures Trading Commission’s outgoing commissioner Dan Berkovitz.

30 September 2021

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