United States

AML / KYC

BSP Calls for ‘Limited Amendment’ to Bank Secrecy Law

By Editors | 27/08/2022

BSP senior assistant governor Elmore Capule told a Senate Committee the BSP is looking for a “limited relaxation of the bank secrecy laws”.

Market Infrastructure

US, China Nears Deal to Resolve Long-running Audit Dispute

By Editors | 26/08/2022

The CSRC has informed some accounting firms that US regulators may be visiting Hong Kong in September to inspect the audit records of US-listed Chinese companies.

Crypto / Digital Assets

Malaysia SC Adds Huobi to Investor Alert List

By Editors | 25/08/2022

The Securities Commission said Huobi is operating a digital asset exchange without being registered with the regulator.

Crypto / Digital Assets

FDIC Orders Crypto Firms to Correct Misrepresentations

By Editors | 24/08/2022

Five crypto firms were ordered to correct false representations stating or suggesting that certain crypto-related products are FDIC-insured.

Capital / Liquidity

CFTC Extends No-action Relief for Foreign Nonbank Swap Dealers

By Editors | 24/08/2022

Nonbank swap dealers domiciled in Japan, Mexico, the UK and EU can rely on compliance with home country capital and financial reporting requirements until October 2024.

Sanctions

MOEX Stops Accepting USD as Collateral in FX, Securities Markets

By Editors | 24/08/2022

Russian authorities have been actively looking to reduce domestic reliance on the currencies of so-called ‘unfriendly’ nations.

Crypto / Digital Assets

Academic Study Finds Broader Front-Running Problem at Coinbase

By Mark Johnston | 23/08/2022

University of Technology Sydney researchers estimate that insider trading occurred on 10-25% of new crypto listings at Coinbase between Sept 2018 and May 2022.

Enforcement

US Court Allows Use of Crypto Firm’s Records to Identify Tax Cheats

By Editors | 23/08/2022

Crypto prime dealer SFOX will have to reveal the identities of customers who are US taxpayers and information on their crypto transactions.

Fintech / Regtech

DTCC Goes Live With New DLT-Based Settlement Platform

By Editors | 23/08/2022

The Project Ion platform is now parallel processing an average of over 100,000 bilateral equity transactions per day.