United States

Market Infrastructure

CME Group to be Recommended as SOFR Term Rate Administrator

By Editors | 24/05/2021

A recommended SOFR term rate is now in clear sight, said Tom Wipf, ARRC Chairman and Vice Chairman of Institutional Securities at Morgan Stanley.

AML / KYC

US Treasury Paper Outlines Proposal for New Tax Reporting Regime

By Sanday Chongo Kabange | 24/05/2021

The paper proposes that transfers involving crypto assets worth more than USD 10,000 be reported to the IRS under the new reporting regime.

Enforcement

SEC Penalises S&P Dow Jones Indices for Disclosure Failure

By Ranamita Chakraborty | 22/05/2021

The SEC settled charges against S&P DJI for the dissemination of stale index values which resulted from an undisclosed quality control feature.

Capital / Liquidity

Thailand SEC Issues Rules for Sustainability-Linked Bond Issuance

By Sanday Chongo Kabange | 21/05/2021

To help promote the issuance and offering of sustainability-linked bonds, the SEC will waive application and registration fees until 31 May 2022.

Securities / Derivatives

SET Amends Listing Rules to Introduce Market Cap Test

By Sanday Chongo Kabange | 20/05/2021

The listing rule changes will enable companies in target sectors to more easily access funding from Thailand’s capital market.

Securities / Derivatives

US Postpones Investment Ban on ‘Chinese Military Companies’

By Editors | 20/05/2021

The two-week delay is needed to craft a stronger policy to prohibit trades in companies connected to the Chinese military, including to evaluate the companies on the list.

AML / KYC

US DOJ Repatriates $460m of Seized 1MDB Funds to Malaysia

By Editors | 16/05/2021

Seized and repatriated 1MDB funds are being utilised to repay and service 1MDB and SRC’s debts, which remain above $10.2billion.

Securities / Derivatives

PCAOB Proposes Framework for HFCAA Determinations

By Editors | 16/05/2021

The PCAOB will use the proposed framework to determine when it is unable to carry out inspections of overseas audit firms of US-listed companies.

AML / KYC

US DOJ Penalises Swiss Life for Facilitating Tax Evasion

By Editors | 16/05/2021

Swiss Life and its subsdiaries created and marketed insurance products specially designed for US persons seeking to hide offshore assets and evade tax.