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BIS - The Crypto Ecosystem: Key Elements And Risks - Report Submitted To The G20 Finance Ministers And Central Bank Governor

Date 11/07/2023

This report reviews the key elements of the crypto ecosystem and assesses their structural flaws. There are three main takeaways. First, due to underlying economic incentives, the crypto ecosystem is characterised by congestion and high fees, which lead to fragmentation. Second, despite an original ethos of decentralisation, crypto and decentralised finance (DeFi) often feature substantial de-facto centralisation, which introduces various risks. Third, while DeFi mostly replicates services offered by the traditional financial system, it amplifies known risks.

FINRA Fines Merrill Lynch $6 Million For Longstanding AML Program Failures - Firm Failed To File Nearly 1,500 Suspicious Activity Reports

Date 11/07/2023

FINRA announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith Inc. $6 million for failing to establish and implement policies, procedures, and internal controls reasonably designed to cause the reporting of suspicious transactions as required by the Bank Secrecy Act. In particular, Merrill Lynch failed to apply the correct threshold to report suspicious activities for more than 10 years and, as a result, failed to file nearly 1,500 Suspicious Activity Reports (SARs).

BIS: Lessons Learnt On CBDCs - Report Submitted To The G20 Finance Ministers And Central Bank Governors

Date 11/07/2023

The world's central banks are stepping up efforts to prepare the ground for central bank digital currencies (CBDCs) either as digital cash (retail) or tokenised reserves (wholesale). This report shows how the BIS Innovation Hub is helping central banks on their CBDC journeys and discusses the lessons learnt so far.

ESMA Issues Opinion On CNMV Product Intervention Measures

Date 11/07/2023

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today issued an Opinion on product intervention measures taken by the Spanish Comisión Nacional del Mercado de Valores (CNMV). 

US Treasury Calls For Large Position Reports

Date 11/07/2023

The U.S. Department of the Treasury is calling for Large Position Reports from those entities whose positions in the Treasury Bill of June 8, 2023 equaled or exceeded $10.2 billion as of Friday, April 28, 2023, or Friday, May 5, 2023. This Bill has CUSIP 912796ZP7 and was originally auctioned as a 182-Day (i.e., 26-Week) Bill on December 5, 2022, and issued on December 8, 2022, with a maturity date of June 8, 2023.  This Bill was subsequently reopened as a 91-Day (i.e., 13-Week) Bill on March 6, 2023, and issued on March 9, 2023. 

Statement Of CFTC Commissioner Caroline D. Pham Regarding The TW SEF MAT Determinations Of USD SOFR And GBP SONIA Overnight Index Swaps

Date 11/07/2023

Last Friday’s announcement marks an important step in the transition away from LIBOR as the Commission deems approval of made-available-to-trade (MAT) determinations for certain U.S. Dollar (USD) Secured Overnight Financing Rate (SOFR) overnight index swaps and Pound Sterling (GBP) Sterling Overnight Index Average (SONIA) overnight index swaps.  These SOFR and SONIA overnight index swaps will become subject to the mandatory trade execution requirement under the Commodity Exchange Act on August 5, and market participants must be prepared to comply.

ESMA Publishes Final Report On Revised Technical Standards For Passporting

Date 11/07/2023

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, today published its Final Report on the review of the technical standards for passporting under Article 34 of MiFID II.

TMX Group Equity Financing Statistics - June 2023

Date 11/07/2023

TMX Group today announced its financing activity on Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) for June 2023.

Euronext Enlarges Its SBT 1.5°C Index Offering To Accelerate The Transition To Green Finance

Date 11/07/2023

• Euronext launches two new SBT indices: Euronext Europe SBT 1.5° and Euronext Eurozone SBT 1.5°, continuing on from the previously launched CAC SBT 1.5° index

• The index was launched with the support of CDP

• These two indices are Euronext’s 27th and 28th climate indices

Marley Spoon Group SE: New Entry In The General Standard Of The Frankfurt Stock Exchange

Date 11/07/2023

Since January 2022, 468 SPAC II SE has been listed as SPAC on the Frankfurt Stock Exchange. Today the new public shares have been included in the listing. In future, the company's shares are traded under Marley Spoon Group SE (ISIN: LU2333563281) on the Regulated Market (General Standard) of the Frankfurt Stock Exchange.