International

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    Market Infrastructure

    EU Proposes New Rules to Address Cum-Ex Tax Dodge Schemes

    By Mark Johnston | 19/06/2023

    The proposals aim to make withholding tax procedures more efficient and secure for investors, banks and tax authorities.

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    AML / KYC

    US Court Orders Binance to Isolate US Business from Global Operations

    By Manesh Samtani | 19/06/2023

    The SEC said the “emergency relief” helps ensure that Binance.US customers are protected and their assets remain in the US.

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    Crypto / Digital Assets

    Global Consortium Executes First “Quantum-Secure” Trade Transaction

    By Sanday Chongo Kabange | 19/06/2023

    The trade parties utilised IMDA’s ‘TradeTrust framework’ and placed a quantum-secure ‘seal’ on the electronic trade documents.

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    Crypto / Digital Assets

    BIS Innovation Hub Concludes Joint CBDC Experiment With BOE

    By Editors | 19/06/2023

    Project Rosalind explored how a universal and extensible API layer could connect central bank and private sector infrastructures and facilitate retail CBDC payments.

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    Market Infrastructure

    FIA Issues Standard to Promote Timely Trade Give-Ups and Allocations

    By Editors | 18/06/2023

    The standard focuses on streamlining the delivery and processing of allocation instructions. A consultation on average pricing was also launched.

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    Securities / Derivatives

    FSB, IOSCO Set to Propose Reforms to Address Fund Liquidity Risk

    By Editors | 16/06/2023

    The FSB and IOSCO said that they will both be publishing consultation papers on liquidity risk management in early July.

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    Big Picture

    Regulators Paying More Attention to Banks’ Cyber Resilience: FSI Paper

    By Ranamita Chakraborty | 16/06/2023

    The paper outlines how escalating cyber threats have resulted in the development of “second-generation” cyber regulations.

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    ESG / Sustainability

    Fit For Purpose: Existing Principles for FMIs Can Address Financial Climate Change Risks

    By Michael Leibrock | 16/06/2023

    FMIs are well placed to address climate-related risks in accordance with the existing PFMI principles, says DTCC’s Michael Leibrock.

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    ESG / Sustainability

    Net Zero Bondholder Stewardship Guidance Launched

    By ESG Investor | 16/06/2023

    The IIGCC’s guidance provides advice on stewardship across different forms of corporate debt.

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    Sanctions

    Russia to Enact Legislation Allowing it to Seize Western Assets

    By Editors | 16/06/2023

    The legislation would enable the Russian government to appropriate the assets of Western companies at significant discounts.

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