News

Vinge advising as Swedish benchmark transfers to independent administrator

Sweden’s banks have handed over control of the Stibor benchmark to a New Zealand-based independent administrator, as the benchmark prepares to become fee liable next month.

21 April 2020

HSBC reports potential money laundering violations in Australia

HSBC’s Australian arm has disclosed possible anti-money laundering violations to the country’s financial intelligence agency.

21 April 2020

Scaled-down Libra seeks FINMA approval

Facebook’s cryptocurrency project Libra has filed for regulatory approval in Switzerland – dropping plans for a Bitcoin-like permissionless system and adding a single-currency coin.

17 April 2020

World Bank weighs in on financial inclusion and fintech

The World Bank has urged regulators to foster the inclusion of underserved users of the financial system when designing regulatory sandboxes and innovation hubs.

17 April 2020

Lack of uniformity hinders sustainability initiatives, IOSCO says

Efforts to create environmentally sustainable investment products are being hampered by greenwashing and a multiplicity of informal reporting frameworks, securities regulatory association IOSCO has said in a new report.

15 April 2020

FSB global stablecoin suggestions “could stifle private sector”

The Financial Stability Board (FSB) has called on regulators to treat global stablecoins under a “same business, same risks, same rules” approach.

15 April 2020

“No limit” on duration of Federal Reserve coronavirus lending

Major US banks are ramping up for a mass lending effort as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, as the US Federal Reserve chair says there will be “no limit” on the duration of tis financial support during the covid-19 crisis.

09 April 2020

No dividend deferrals here, US and Singaporean regulators say

US and Singapore regulators have indicated they will not be following their counterparts elsewhere in the world by asking banks to forgo dividend payments – as the latter issued a series of relief measures in the wake of the covid-19 crisis.

09 April 2020

HSBC shareholders resist dividend suspensions

A group of Hong Kong shareholders is mulling legal action against HSBC for acquiescing to the Bank of England's request that it forgo shareholder dividends.

07 April 2020

Goldman Sachs hires former Obama counsel

Latham & Watkins partner and former White House counsel Kathryn Ruemmler has joined Goldman Sachs to head its regulatory affairs department, while the bank has named in-houser Michael Richman as head of compliance.

07 April 2020

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