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United States
Capital / Liquidity
Swiss Regulators Orchestrate UBS Takeover of Credit Suisse
By Manesh Samtani | 20/03/2023
The deal gives Credit Suisse shareholders shares in UBS worth just 40 percent of what their CS shares were worth on Friday.
Enforcement
China MOF Fines Deloitte for Huarong Audit Failures
By Editors | 19/03/2023
Deloitte’s China arm was fined a record CNY 212 million for “serious” deficiencies in its audit work for China Huarong Asset Management between 2014 and 2019.
Sanctions
Raiffeisen Mulls Sberbank Cash Swap to Reduce Russia Exposure
By Editors | 19/03/2023
The deal involves Sberbank receiving roubles in Moscow from Raiffeisen’s Russian subsidiary, and Raiffeisen receiving euros in Vienna from Sberbank’s former European arm.
ESG / Sustainability
Philippine SEC Proposes Guidelines for Blue Bond Issuance
By Editors | 17/03/2023
Eligible blue projects aim to directly address sustainable water management and ocean protection and seek to contribute to the development of the blue economy.
Securities / Derivatives
PCAOB Inspectors to Visit Hong Kong Auditors Next Week
By Editors | 17/03/2023
PCAOB inspectors will meet Deloitte and EY next week to prepare for audit inspections that will take place later this year.
Capital / Liquidity
US Regulators, Banks Agree Rescue Deal for First Republic Bank
By Manesh Samtani | 16/03/2023
Eleven banks will deposit $30bn into regional lender First Republic Bank, which has suffered credit downgrades and stock price declines in recent days.
Market Infrastructure
US SEC Proposes New Requirements to Address Cyber Risks
By Editors | 16/03/2023
The proposals will enhance cyber and technology risk management requirements for key entities that underpin the US securities market.
ESG / Sustainability
Thailand to Allow SMEs Issue Sustainability-Themed Bonds
By Editors | 16/03/2023
Regulatory amendments will enable small “businesses of all types and sizes” to offer sustainability-themed bonds.
Enforcement
US Charges Exiled Chinese Businessman with $1b Fraud Scheme
By Editors | 16/03/2023
Guo Wengui and his financial adviser allegedly cheated thousands of investors since 2018 by promising outsized returns on various offerings.
Fintech / Regtech
US Announces July Launch Date for FedNow Service
By Editors | 16/03/2023
The Federal Reserve said it will begin the formal certification of participants for launch of the FedNow Service in the first week of April.
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