News

ESG and diversity emphasised in Dutch corporate governance update

One of the Netherlands’ regulating bodies has shoehorned climate change into an update to its guide for financial institutions’ corporate governance, saying that ESG strategy was the most important thing for companies to build into their futures.

24 February 2022

Heads Up: with Jenny Stainsby at Herbert Smith Freehills

“It’s not something you can do on the side.” Herbert Smith Freehills’ global head of financial services regulatory Jenny Stainsby speaks to GBRR about why financial regulation needs a dedicated practice, monitoring the regulatory waves, and how legal practice is like peeling potatoes.

23 February 2022

Binance operations in UK concerning, says FCA

The UK’s financial watchdog has said it has “limited powers” to object to a partnership that will see banned crypto firm Binance able to operate in the UK again.

23 February 2022

FINRA orders independent review into “unfair” arbitration selection

The United States’ self-regulatory organisation for brokerages has tapped Lowenstein Sandler to conduct a review of arbitrator selection at its disputes forum, after a judge found a selection to hear investor claims against Wells Fargo had been “manipulated”.

21 February 2022

Fed tightens trading rules for Fed officials: individual stocks, bonds and crypto trading banned

The US Federal Reserve has put new rules into place for its officials’ trading activity after the resignations of three high-ranking officials following questions over their trades during the covid-19 pandemic.

21 February 2022

Canadian emergency order opens door to greater crypto scrutiny

Canada has brought crowdfunding platforms and payment processors into its anti-money laundering regulator’s purview, as part of a host of emergency financial measures in response to the ongoing Ottawa blockade.

18 February 2022

Crypto assets a threat to global stability, FSB says

Crypto-assets’ too-rapid evolution may threaten global financial stability, according to a new warning issued by the Financial Stability Board (FSB), the same day as 18 crypto companies join together to propose an “industry-driven solution” for crypto to comply with FATF standards.

17 February 2022

BlockFi hails "regulatory clarity" after US$100 million SEC settlement

US crypto platform BlockFi has reached a settlement with the SEC after the regulator labelled its interest-earning accounts as unregistered securities, in what practitioners have labelled a “path to regulatory clarity”.

16 February 2022

Climate risk measures are fragmenting across the globe, industry bodies warn

As climate consultations from the OCC and the BCBS drew to an end this week, industry bodies have warned their respective proposals could create a “fragmented” climate risk landscape and funnel too many regulatory resources towards uncertain and disparate climate requirements.

16 February 2022

Paul Hastings recruits Covington’s securities co-chair

Chris DeCresce, co-chair of Covington & Burling’s securities and capital markets practice, has joined Paul Hastings in New York.

16 February 2022

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