News Centre

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.

Register For Joint ACER And ENTSOG Workshop On Maximisation And Efficient Use Of Gas Transmission Capacities (14 March 2023)

Date 23/02/2023

What is it about?

The EU Agency for the Cooperation of Energy Regulators (ACER) and the European Network of Transmission System Operators for Gas (ENTSOG) jointly organise a workshop on maximisation and efficient use of gas transmission capacities.

FSB Invites Senior Representatives From Firms And Industry Associations To Join Cross-Border Payment Taskforce

Date 23/02/2023

The Financial Stability Board (FSB) invites firms that participate in the cross-border payments market and relevant industry associations to nominate senior representatives to a new taskforce on legal, regulatory, and supervisory matters that may contribute to enhancing cross-border payments (the “LRS taskforce”).

Statement From US Secretary Of The Treasury Janet L. Yellen On The Nomination Of Ajay Banga To Lead The World Bank

Date 23/02/2023

“I applaud President Biden’s decision to nominate Ajay Banga to lead the World Bank. He has the right leadership and management skills, experience living and working in emerging markets, and financial expertise to lead the World Bank at a critical moment in its history, deliver on its core development goals, and evolve the Bank to meet global challenges like climate change."