News Centre

Ontario Securities Commission Announces Agenda And Opens Registration For OSC Dialogue 2023: Regulating With Purpose

Date 23/02/2023

The Ontario Securities Commission (OSC) today announced the agenda and opened registration for OSC Dialogue: Regulating with Purpose. This year, OSC Dialogue will return to an in-person event at the Metro Toronto Convention Centre on Thursday, April 27, 2023.

Aegis Custody Launches Best-In-Class Digital Asset Custody Platform For Qualified Custodian Gateways - New Custodial Gateway Aegis Vault Offers 96% Faster Turnaround Time Than Industry Standard

Date 23/02/2023

Aegis Custody, a digital asset custodian offering regulatory compliant solutions and custody services for digital assets and Web3 on-chain transactions, announced today the release of its proprietary MPC based custody platform, Aegis Vault. It has been designed and optimized to provide industry-leading security for its customers as a two-directional custodial solution and regulatory gateway connecting clients to Web3 services, and offers transaction speeds of just 1-2 hours from cold storage, compared to the 48 hours provided by industry players.

SEC Charges Ozy Media And Its CEO Carlos Watson With Widespread Scheme To Defraud Investors - Former COO And chief Of Staff Also Charged In $50 Million Fraud

Date 23/02/2023

The Securities and Exchange Commission today charged media and entertainment company Ozy Media Inc., its CEO Carlos R. Watson, Jr., its former COO Samir Rao, and its former Chief of Staff Suzee Han with defrauding investors of approximately $50 million through repeated misrepresentations concerning the company’s basic financial condition, business relationships, and fundraising efforts. Rao and Han have agreed to resolve the charges against them.

CFTC Charges Several People And Companies In A $145 Million Ponzi Scheme - Charges Include Lying To The National Futures Association To Conceal The Fraud

Date 23/02/2023

The Commodity Futures Trading Commission today announced it filed a civil enforcement action in the U.S. District Court for the Southern District of Texas, charging fraud and misappropriation against Marcus Todd Brisco of Wailuku, Hawaii and his companies Yas Castellum LLC of Denver, Colorado, and Yas Castellum Financial LLC of Wailuku, Hawaii; Tin Quoc Tran of Katy, Texas; Francisco Story of Draper, Utah; Fredirick “Ted” Safranko of Vancouver or Ontario, Canada; Michael Shannon Sims of either Sunny Isles Beach, Florida or Roswell or Atlanta, Georgia; and SAEG Capital General Management LP (SAEG) of Draper, Utah.

IMF Executive Board Discusses Elements Of Effective Policies For Crypto Assets

Date 23/02/2023

On February 8, 2023 the Executive Board of the International Monetary Fund (IMF) discussed a board paper on Elements of Effective Policies for Crypto Assets that provides guidance to IMF member countries on key elements of an appropriate policy response to crypto assets. The paper’s objectives are in line with the IMF’s mandate to support economic and financial stability across its membership. The paper addresses questions raised by IMF member countries on benefits and risks of crypto assets and on how to structure appropriate policy responses. It operationalizes the principles outlined in the Bali Fintech Agenda (IMF and World Bank 2018) and includes macrofinancial considerations such as implications for monetary and fiscal policies. The proposed principles are fully aligned with the relevant standards of the Financial Stability Board and other standard setting bodies.

Canadian Securities Regulators Encourage Market Participants To Prepare For The Cessation Of CDOR

Date 23/02/2023

The Canadian Securities Administrators (CSA) is encouraging market participants to prepare for the upcoming cessation of the Canadian Dollar Offered Rate (CDOR).

A Crypto Friendly Asia: What It Will Mean For Markets - Kaiko Research: Deep Dive

Date 23/02/2023

On Monday, Hong Kong made its intentions clear to open the door to crypto trading for retail. Reports claim that China is quietly encouraging the move, using Hong Kong as a testing ground for what safe crypto trading might look like. The Hong Kong Securities and Futures Commission (SFC) outlined various caveats for retail investing in crypto, namely hinting at only having a small subset of the largest tokens available to trade.

BIS: The Shape Of Business Cycles: A Cross-Country Analysis Of Friedman's Plucking Theory

Date 23/02/2023

Summary

Focus 

As the advanced economies continue to recover from the Covid-19 recession, it would be helpful to know more about how economies typically behave following recessions. While large recessions tend to precede strong expansions, strong expansions do not tend to precede large recessions. Are economic recoveries complete? If not, what factors influence how far a recovery will run?

Bank For International Settlements' Committee On Payments And Market Infrastructures Invites Market Stakeholders To Join Cross-Border Payments Interoperability And Extension Task Force

Date 23/02/2023

• CPMI establishes task force on cross-border payments interoperability and extension to contribute to the G20 cross-border payments programme.
• The task force will work on the extension of access to and operating hours of payment systems as well as their interlinking across borders.
• CPMI invites nominations for the task force from banks, non-bank payment service providers and market infrastructure providers that participate – or plan to participate – in the cross-border payments market as well as industry associations.

BIS: When The Music Stops - Holding Bank Executives Accountable For Misconduct

Date 23/02/2023

The Great Financial Crisis and its aftermath exposed a wave of banking scandals, triggering financial instability and eroding public confidence in banks. Amid economic uncertainty, societal frustration mounted at regulators' perceived inability to hold executives accountable for failures within their banks. In pursuing cases of misconduct, supervisory authorities found it difficult to pinpoint the role of high-level executives because they were often distant from the day-to-day activities where the alleged wrongdoing occurred.