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  • EBA Issues An Opinion On The European Commission’s Proposed Amendments To The EBA Final Draft Technical Standards For Own Funds And Eligible Liabilities

    Date 08/04/2022

    The European Banking Authority (EBA) published today an Opinion on the amendments proposed by the European Commission to the EBA final draft Regulatory Technical Standards (RTS). In the Opinion the EBA expresses its disagreement with two substantive changes proposed by the Commission and agrees with the other amendments, which are considered non-substantive. 

  • CFTC: Federal Court Orders Danish Resident To Pay Over $4.7 Million For Forex Fraud And Misappropriation

    Date 08/04/2022

    The Commodity Futures Trading Commission today announced the U.S. Court for the Southern District of New York entered an order and a final judgment against Danish resident Casper Mikkelsen, a/k/a Carsten Nielsen, a/k/a Brian Thomson, a/k/a Thomas Jensen, a/k/a Casper Muller, permanently prohibiting him from trading commodity interests, and ordering him to pay $1,191,286 in restitution and a $3,573,860 penalty, which is triple the profits Mikkelsen made committing this fraud.

  • Readout: US Financial Stability Oversight Council Meeting On April 8, 2022

    Date 08/04/2022

    Today, U.S. Secretary of the Treasury Janet L. Yellen convened a meeting of the Financial Stability Oversight Council (Council) in executive session by videoconference.

  • Finansinspektionen/Sweden's Riksbank: Climate-Related Transition Risks Must Be Given Priority

    Date 08/04/2022

    The data and methods available for measuring climate-related transition risks are under development. There is a lot of work going on in this area, in the banks and in organisations at national and international level, but it is important that the banks calculate and manage these risks already today. It is no good waiting for better data and fully standardised and harmonised methods to become available. Finansinspektionen (the Swedish Financial Supervisory Authority) and the Riksbank have jointly applied the Paris Agreement Capital Transit Assessment Tool (PACTA) to measure climate-related transition risks in the banks' credit portfolios. The results show that there are transition risks that banks have to take into account.

  • Crypto Regulation Plans In The UK – A Compliance Perspective, By Dr. Alpay Soytürk, Chief Regulatory Officer At Spectrum Markets

    Date 08/04/2022

    Earlier this week, UK Treasury Secretary Rishi Sunak reiterated the UK government's intention to turn the UK into a global crypto-asset technology hub. Yesterday, the British supervisory authority FCA announced that it wanted to increase its enforcement options against problem companies. And it may well have been the temporal connection between Sunak's announcement and that of the FCA that caused a little public excitement.