NY Libor switch plan included in Cuomo budget

New York’s governor has included a plan in the state’s draft budget to prevent widespread disruption as Libor-linked contracts shift to new benchmarks, following lobbying from industry bodies.

21 January 2021

Skadden hires old SEC hand

Skadden Arps Slate Meagher & Flom has hired the SEC’s former international affairs director Raquel Fox as a partner in its Washington, DC office.

21 January 2021

Biden Begins

As Joe Biden becomes US president, incoming Treasury Secretary Janet Yellen has promised a dedicated climate risk hub, while Gary Gensler and Rohit Chopra have been tapped to lead the SEC and CFPB.

20 January 2021

UK considers "extra-territorial" stablecoin rules

The UK is floating proposals to require overseas stablecoin providers to establish a legal entity in the country to offer their services, which one practitioner warns will be incompatible with some providers’ business models.

20 January 2021

Perkins Coie advising on first US national digital asset bank

The Office of the Comptroller of the Currency has granted conditional approval for the launch of the United States’s first federally chartered digital asset bank.

18 January 2021

Community roundup: Linklaters names global banking heads; Davis Polk hires OCC alum in DC

Linklaters has named Madrid- and London-based partners to head its banking practice, while Davis Polk & Wardwell has hired from Buckley in Washington, DC.

18 January 2021

Brooks departs OCC, finalising "fair access" on the way out

The US Acting Comptroller of the Currency, Brian Brooks, is stepping down – finalising the controversial “fair access” rule on his final day in office – as former CFTC chair Gary Gensler is reportedly being tapped to head the SEC.

14 January 2021

ECB consolidation guidelines overlook its own approval process

The European Central Bank’s supervisory guidance to facilitate bank consolidations in the EU has been labelled “a major disappointment”, for the absence of measures to address its own merger approval process.

13 January 2021

Crédit Agricole sells Romanian unit, with Clifford Chance advising

Clifford Chance is advising Crédit Agricole as it sells its Romanian business to Greek-owned bank Vista.

13 January 2021

Singapore regulator gets new powers over crypto payments

Singapore has granted its banking regulator increased powers to monitor a wider range of companies offering cryptocurrency services, in a bid to counter money laundering and terrorist financing through digital service providers.

11 January 2021

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