United States

Liquidity Risk

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.

Cybersecurity

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.

Sustainable Finance

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.

Fraud, Scams & Cybercrime

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.

Payments & Settlements

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.

Anti-Money Laundering

US, German Authorities Coordinate on Takedown of Crypto Mixer

By Editors | 16/03/2023

Authorities dismantled ChipMixer’s infrastructure and seized four servers, about USD 46 million worth of bitcoin, 7 TB of data, two domains, and a Github account.

Clearing & Post-Trade

DTCC Offers New Tool to Facilitate LIBOR Transition

By Editors | 16/03/2023

Widespread usage of the tool will be “an important component to help ensure a successful transition,” said Tom Wipf, who chairs the ARRC.

Reporting & Disclosures

New Zealand Considers Climate Reporting Exemptions for Secondary Listed Issuers

By Sanday Chongo Kabange | 15/03/2023

The exemptions seek to reduce compliance costs for foreign exempt issuers that already produce similar reporting in their home jurisdiction.

Fraud, Scams & Cybercrime

US OCC Fines Ex-Wells Fargo Exec for Sales Misconduct

By Editors | 15/03/2023

Carrie Tolstedt was not required to admit or deny the OCC allegations, but she faces up to 16 months in prison under a plea agreement with federal prosecutors.