United States

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    Enforcement

    CFTC Fines HSBC for “Deceptive Trading”, WhatsApp Use

    By Editors | 14/05/2023

    The CFTC fined three HSBC affiliates a total $75m for manipulative and deceptive trading, spoofing, and supervision and record-keeping failures.

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    ESG / Sustainability

    Philippine SEC Adopts ASEAN SRF Standards

    By Sanday Chongo Kabange | 14/05/2023

    Rules are established to enable local and ASEAN-member investment companies and CIS operators to offer sustainable and responsible funds locally and across the region.

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    AML / KYC

    US SEC Fines Philips for Corrupt Practices in China

    By Editors | 14/05/2023

    Dutch medical supplier engaged in “improper” conduct and bidding practices to sell its medical technology products in China.

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    Capital / Liquidity

    California Regulator Concludes Reviews into SVB Failure

    By Editors | 13/05/2023

    In the years leading up to SVB’s failure, DPFI identified deficiencies at the bank, but “did not take adequate steps” to ensure they were resolved quickly.

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    Crypto / Digital Assets

    Jane Street, Jump Crypto to Scale Down US Crypto Business

    By Editors | 13/05/2023

    Jane Street Group and Jump Crypto are the latest firms to scale down US operations, citing regulatory uncertainty.

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    NYDFS Proposes Guidance on ‘Character and Fitness’ Reviews

    By Editors | 13/05/2023

    Superintendent Adrienne Harris said character and fitness standards have become a “policy priority” in light of “recent events” in the industry.

    Big Picture

    Fed Official Calls for Banking Reforms to be “Targeted” and “Thoughtful”

    By Mark Johnston | 12/05/2023

    Michelle Bowman urges targeted and evidence-based reforms to address the root causes of the recent spate of bank failures.

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    Big Picture

    US Super-Regional Banks Bore the Brunt of SVB Failure: NY Fed

    By Mark Johnston | 12/05/2023

    Deposit withdrawals after SVB’s failure were limited to around 30 super-regional banks, according to a new study by the NY Fed.

    ESG / Sustainability

    US Fed Governor Questions Need for Special Focus on Climate Risk

    By Mark Johnston | 12/05/2023

    Climate change is real, but not a serious risk to financial stability, Fed Governor Waller said in a speech in Madrid.

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    Market Infrastructure

    PCAOB Publishes Findings from Audit Inspections of Chinese Firms

    By Editors | 12/05/2023

    The PCAOB said it found an “unacceptable rate” of deficiencies in the KPMG and PwC audits of US listed Chinese companies it reviewed last year.

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