United States

Enforcement

US Judge Denies SEC Permission to Appeal Ripple Ruling

By Editors | 04/10/2023

The July ruling found that programmatic sales of Ripple’s XRP digital token on public exchanges was not a breach of federal securities laws.

Capital / Liquidity

FDIC Proposes Enhanced Corporate Governance Guidelines for Banks

By Sanday Chongo Kabange | 04/10/2023

The guidelines will be applicable to insured depository institutions with consolidated assets of USD 10 billion or more.

Big Picture

Generative AI’s Growing Impact on Capital Markets

By Ranamita Chakraborty | 04/10/2023

Panellists at the ASIFMA Tech & Ops Conference discussed the key applications of generative AI in capital markets and strategies for addressing risks.

Securities / Derivatives

Philippine Stock Exchange Issues Final Short Selling Guidelines

By Sanday Chongo Kabange | 04/10/2023

The PSE said the SEC and BIR approved critical components of SBL transactions. A separate announcement will be made about the official launch date.

Enforcement

CFTC Fines Goldman for Failing to Prevent Disruptive Trading

By Mark Johnston | 03/10/2023

Goldman’s surveillance was not properly monitoring for disruptive trading and its preventative control to suspend such trading malfunctioned.

Enforcement

CFTC Fines Three Major FIs for Swap Reporting and Other Violations

By Mark Johnston | 03/10/2023

Affiliates of Goldman Sachs, JP Morgan, and Bank of America were fined a total $53mn for violating rules for swap dealers.

Capital / Liquidity

US, Korea to Cooperate on Risk Monitoring, Resolution Planning

By Sanday Chongo Kabange | 02/10/2023

The FDIC and KDIC will cooperate on risk monitoring, crisis management and resolution planning for FIs with operations in both countries.

Enforcement

Former Goldman Analyst, Three Others Charged for Insider Trading

By Mark Johnston | 02/10/2023

The former analyst tipped his friends to impending M&A deals. Together they made over $460,000 from trading on nonpublic information.

Big Picture

Fed Report Assesses Financial Stability Risks of Stablecoins

By Mark Johnston | 01/10/2023

In a separate note, JP Morgan says the Fed’s decision to prevent stablecoins from accessing its overnight facilities could risk disruption in funding markets.