News Centre

ESMA: New Q&As Available

Date 20/05/2022

The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has today updated the following Questions and Answers:

BIS: The Economic Situation And Monetary Policy − Speech By Bank Of England Chief Economist And Executive Director For Monetary Analysis, Huw Pill, Given At ACCA Cymru Wales

Date 20/05/2022

Huw Pill talks about what we’re doing to bring inflation down. And he gives his view on the outlook for the UK’s economy.

BIS: DLT-Based Enhancement Of Cross-Border Payment Efficiency - A Legal And Regulatory Perspective

Date 20/05/2022

Summary

Focus

Traditionally cross-border payments have relied on a mutually trusted central entity. Distributed ledgers, blockchain and smart contracts (together dubbed "distributed ledger technologies" or DLT) could provide an alternative to that approach. However, different DLT applications in the cross-border payments context come with legal challenges. Hence, it is necessary to analyse the extent to what financial law and regulation is fit to deal with DLT-based payments.

BIS - Building Regional Payment Areas: The Single Rule Book Approach

Date 20/05/2022

Summary

Focus

Under ideal circumstances, cross-border payments would be processed as seamlessly as comparable domestic payments, even where multiple currencies are involved. In practice, however, each border can add to the costs of a cross-border payment if crossing the border means entering a different technological, regulatory and legal environment, with different systems, regulators, and courts. This paper analyses regional payment integration projects across the world to identify key lessons for future cross-border payment enhancements on regional and global level, focusing on the role of technology, law and regulation. 

SEC Charges Wells Fargo Advisors With Anti-Money Laundering Related Violations

Date 20/05/2022

The Securities and Exchange Commission today announced charges against Wells Fargo Advisors for failing to file at least 34 Suspicious Activity Reports (SARs) in a timely manner between April 2017 and October 2021. Wells Fargo Advisors, the St. Louis-based broker-dealer, has agreed to pay $7 million to settle the charges.

G7 Finance Ministers And Central Bank Governors Meeting Communiqué: 18 -20 May 2022, Petersberg, Germany

Date 20/05/2022

Preamble

We, the G7 Finance Ministers and Central Bank Governors, met on the Petersberg on 18-20 May 2022, joined by the Heads of the International Monetary Fund (IMF), World Bank Group, Organisation for Economic Cooperation and Development (OECD), and Financial Stability Board (FSB). We agreed on concrete actions to deepen multilateral economic cooperation and underlined our commitment to our united response to Russia´s war of aggression against Ukraine and to our unwavering support for Ukraine. We were honoured to be joined virtually for our meeting by the Ukrainian Prime Minister and the Ukrainian Finance Minister.

Listening Up To Level Up – Regulating Finance For The Whole Of The UK: Speech By Charles Randell, Chair Of The UK Financial Conduct Authority And UK Payment Systems Regulator, At The Centre For Commercial Law Studies, Queen Mary University Of London

Date 20/05/2022

Highlights:

• The consumer’s voice needs to be front and centre in our regulation and in every Boardroom.
• Policy partnerships between Government and regulators are crucial to deliver good outcomes for consumers.
• It's essential for the Future Regulatory Framework to follow the Government’s stated aims of respecting the FCA’s independence and primary objectives, to ensure that the financial services industry continues to act in the interest of all people and communities of the United Kingdom.

ACER Finds That Contractual Congestion In The EU Gas Networks Remains Low In 2021

Date 20/05/2022

The EU Agency for the Cooperation of Energy Regulators (ACER) publishes today its 9th Report on the Contractual Congestion in the EU gas markets. The report found that contractual congestion in the EU gas transmission networks in 2021 remained low, but that competition for transmission capacity increased in the fourth quarter of the year.

Malawi Stock Exchange Weekly Summary - 20 May 2022

Date 20/05/2022

Click here to download Malawi Stock Exchange's weekly summary.

Trading Platform ejmarkets.com: BaFin Investigates WP HOLDING UND MANAGEMENT LTD

Date 20/05/2022

In accordance with section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG), BaFin would like to make clear that WP HOLDING UND MANAGEMENT LTD has not been granted authorisation under the KWG to conduct banking business or provide financial services. The company is not supervised by BaFin.