News

Canada’s OSFI announces first crypto exposure rules

Canada’s prudential regulator has issued its first significant advisory on financial institutions’ exposures to crypto-assets, while the country’s federal group of securities regulators has introduced a pre-registration procedure for crypto trading platforms.

19 August 2022

Another Singapore crypto collapses

Singaporean crypto firm Hodlnaut has applied for judicial management in the city-state months after winning in-principle regulatory approval, the latest Singaporean crypto to fall in the wake of the post-Terra “crypto winter”.

19 August 2022

US Fed overhauls ‘master account’ access guidelines

The United States' Federal Reserve has finalised its guidance on how it will decide which financial institutions can access its master accounts.

17 August 2022

King & Spalding hires from WilmerHale in New York

King & Spalding’s New York office has made its second major hire in the financial regulatory space this month.

17 August 2022

Big Tech marketers could be liable under unfair banking rules, CFPB warns

The United States’ consumer financial watchdog has warned digital marketing companies that they could fall under federal banking law provisions against unfair marketing practices, in a rule practitioners say will have “far-reaching” implications.

15 August 2022

Warren urges OCC to rescind crypto guidance

The US Office of the Comptroller of the Currency should rescind its guidance opening the door to banks’ crypto activities, according to a new push by a quartet of Democratic senators, shortly after banking groups called for a larger role for the industry within crypto innovation.

15 August 2022

ASIC admits “challenges” to breach reporting rules

Australia’s securities regulator has acknowledged “challenges” with its 10-month-old breach reporting regime, promising a disgruntled industry that compliance will get easier – as the country’s prudential regulator simultaneously updates its credit risk reporting standard.

11 August 2022

SEC rolls out “prescriptive” clearing agency governance standards

The SEC has revised its rules on clearinghouse governance structure to mitigate conflict of interests, over objections from its Republican commissioners that the reforms are too “prescriptive”.

11 August 2022

Securities industry body prepares to extend master agreement to digital assets, with Ashurst advising

The International Securities Lending Association is pushing to extend its Global Master Securities Lending Agreement to crypto assets, with a team from Ashurst advising.

10 August 2022

EU sustainability reporting standard could mean “information overload”, consultees say

Sustainable investing groups have praised the EU’s draft Sustainability Reporting Standards, whose consultation period closed this week, but banking groups have called for a delay in implementation.

10 August 2022

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