United States

Market Abuse

CFTC Fines Mizuho Capital Markets for Swaps Conduct Failures

By Editors | 26/04/2023

Mizuho Capital Markets engaged in anticipatory hedges of deal-contingent FX forwards without appropriate disclosure to customers.

Stablecoins

US Lawmakers Propose Another Draft Bill for Stablecoins

By Editors | 26/04/2023

New bill provides a narrower focus overall and gives state regulators more power to charter stablecoin issuers.

Payments & Settlements

New York Fed Tightens Rules on Access to Reverse Repo Facility

By Editors | 26/04/2023

The tighter requirements are said to be aimed at preventing stablecoin issuers from parking their reserves at the Fed.

Cryptocurrency

Binance.US Cancels Deal to Acquire Voyager Digital

By Editors | 26/04/2023

The DOJ indicated earlier this week that it was prepared to allow the deal to proceed. Binance.US had the right to cancel if the deal was not closed by 18 April.

Cryptocurrency

Coinbase Asks US Court to Compel SEC to Provide Regulatory Clarity

By Editors | 26/04/2023

Coinbase is asking the court to compel the SEC to a respond to petition filed last year, which asked the regulator to propose and adopt rules for the digital assets sector.

Anti-Money Laundering

US Treasury Sets Out Strategy to Address De-risking

By Editors | 26/04/2023

Regulations could be introduced to require FIs to take financial inclusion into consideration in the design of their AML/CFT programmes.

Trading & Investment

ARRC Allows Expanded Use of Term SOFR for Hedging

By Editors | 25/04/2023

Market participants can use Term SOFR in basis swap transactions even if they are not a direct party to a Term SOFR cash exposure.

Liquidity Risk

First Republic Bank Assesses Options to Regain Strength

By Editors | 25/04/2023

Earlier this week, the bank revealed that it witnessed $100bn in deposit outflows in Q1 this year, representing 58 percent of total deposits.

PEPs & Sanctions

US Official Details Sanctions Evasion Red Flags During European Visit

By Editors | 25/04/2023

Treasury official Brian Nelson met with European officials and FIs last week and shared details about emerging sanctions evasion typologies.