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Canadian Securities Regulators Outline Expectations For Investment Funds Holding Crypto Assets

Date 06/07/2023

The Canadian Securities Administrators (CSA) today published guidance to help fund managers understand and comply with securities law requirements for public investment funds holding crypto assets (public crypto asset funds).

Statement Regarding Amicus Brief Filing In Murray v. UBS Securities, LLC, SEC Commissioner Hester M. Peirce, SEC Commissioner Mark T. Uyeda, July 6, 2023

Date 06/07/2023

On May 1, 2023, the Supreme Court of the United States granted certiorari in Murray v. UBS Securities, LLC.  Yesterday, the Commission joined an amicus brief filed by the Solicitor General in the Supreme Court, which supports the petitioner in that case.  We dissent from the decision to join the amicus brief for the reasons set forth below.

CFTC Charges Alleged Bitcoin Seller and Former Attorney with Multi-Million Dollar Bitcoin Fraud, Imposes Over $5 Million in Restitution

Date 06/07/2023

The Commodity Futures Trading Commission today issued two orders simultaneously filing and settling charges against Randy Craig Levine, formerly of Coral Gables, Florida, and Philip Reichenthal of Homestead, Florida, for perpetrating a multi-million dollar bitcoin fraud. 

TMX Group Consolidated Trading Statistics – June 2023

Date 06/07/2023

TMX Group Limited today announced June 2023 trading statistics for its marketplaces – Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange and Montréal Exchange.

FSB Plenary Meets In Frankfurt

Date 06/07/2023

The Financial Stability Board (FSB) Plenary met today in Frankfurt. The Plenary discussed preliminary lessons learned from the recent banking sector turmoil and the outlook for global financial stability. The Plenary also discussed the FSB’s deliverables to the July G20 Finance Ministers and Central Bank Governors meeting.

EBA Publishes Validation Requirements On Initial Margin Models

Date 06/07/2023

The European Banking Authority (EBA) published today its final draft Regulatory Technical Standards (RTS) on Initial Margin Model Validation (IMMV) under the European Markets Infrastructure Regulation (EMIR). These draft RTS set out the supervisory procedures to ensure the prudent use of initial margin models for OTC derivatives. In an accompanying Opinion, and as part of the ongoing negotiations on EMIR, the EBA calls on co-legislators to consider the establishment of a central validation function in the EU.

UK Financial Conduct Authority Sets Out Expectation For Fair And Competitive Saving Rates

Date 06/07/2023

Many people are feeling the squeeze from rising interest rates and prices, so it is more critical than ever that they are offered fair and competitive saving rates. We held a constructive meeting today with the UK’s largest banks and building society, which builds on work we have been doing over several months – to monitor the savings markets and the decisions made. We have challenged firms where their decision making has been slow.

Euronext Announces Volumes For June 2023

Date 06/07/2023

Euronext, the leading pan-European market infrastructure, today announced trading volumes for June 2023.

BIS: Basel Committee Consults On Revisions To The Core Principles For Effective Banking Supervision

Date 06/07/2023

• Basel Committee issues public consultation on revisions to the Core principles for effective banking supervision.
• The proposed revisions reflect supervisory developments and structural changes affecting the banking system since the previous update in 2012.
• The Committee invites submissions on the proposals by 6 October 2023.

Industry Leaders Form ERC3643 Association To Propel Standardization of Tokenization

Date 06/07/2023

Today marks the formation of the ERC3643 Association, a collaborative effort between industry key players to catalyst worldwide adoption of the ERC3643 token standard for real-world assets tokenization to eliminate silos and ensure interoperability.