On May 22, 2024, the Financial Stability Board (FSB) issued a report on vulnerabilities in the markets for commercial paper (CP) and negotiable certificates of deposit (CDs). The report analyzes the structure of the markets,...more
On 20 December 2023, the Financial Stability Board ("FSB") published revised policy recommendations to address structural vulnerabilities from liquidity mismatch in open-ended funds ("OEF"), concurrently with the publication...more
Welcome to the July – September 2023 issue of our Irish Quarterly Legal and Regulatory Developments report for asset management and investment funds. This report covers key dates and developments during the quarter, such...more
The Financial Stability Board (“FSB”) has published its report on 2023 Bank Failures: Preliminary lessons learnt for resolution which follows on from the report from the Basel Committee on Banking Supervision (“BCBS”) on the...more
French Bank Licensed to Offer Crypto Services, New Crypto Products Launch - According to recent reports, one of the largest banks in France recently received the first license for crypto services issued by the French...more
DeFi Protocols Announce Updates, US Bank Introduces Deposit Token Concept - According to recent reports, Rocket Pool, a decentralized finance (DeFi) protocol used as an Ethereum (ETH) staking service, has reached $1...more
In a recent valedictory press interview, the Secretary-General of the Financial Stability Board (FSB), Dietrich Domanski, posited that attempts to convince banks to combat climate change will be insufficient without financial...more
October 11, 2022- The Financial Stability Board (FSB) today published a proposed framework for the international regulation of crypto-asset activities. The core components of this framework are proposals for:...more
On 14 September 2022, K2 Integrity hosted a webinar on considerations in the digital assets space. K2 Integrity Board Member Christopher Brummer and AML/CFT experts Mariano Federici and Alex Levitov discussed the current...more
This year started off with a surge of enthusiasm among US proponents of increased climate-related financial risk disclosure by insurers and others: - Soon after the late-2021 Conference of the Parties (COP) 26 event in...more
On July 11, the Financial Stability Board (FSB) published a letter sent to G20 finance ministers and central bank governors outlining concerns over the rapid growth in crypto-assets and vulnerabilities facing the global...more
CryptoPunk Sold at $2.6M, USPTO to Address NFTs, Court Approves NFT Service - A rare NFT from the CryptoPunk collection recently sold for approximately $2.6 million, the fifth-largest sale in the collection’s history....more
The last week has seen a number of announcements or statements from financial regulators calling for more oversight of crypto-assets, particularly stablecoins. Federal Reserve Vice Chair Lael Brainard gave a speech,...more
Key developments in April 2022: 29 April - The Financial Stability Board (“FSB”) published for consultation an interim report that recommends measures to assist supervisory and regulatory authorities in developing...more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. 28 February - The Financial Conduct Authority (“FCA”) published Handbook Notice...more
ANTITRUST AND COMPETITION - European Commission Blocks a Global Transaction Involving Two Leading South Korean Shipbuilders - On 12 November 2019, a South Korean leading shipbuilder (the Notifying Party) notified to the...more
On February 16, the Financial Stability Board issued an updated “Assessment of Risks to Financial Stability from Crypto-assets,” concluding that crypto-asset markets are fast evolving and could reach a point where they...more
Russia’s Federal Security Service (“FSB”) issued a press release on January 14, 2022 claiming that it dismantled the REvil ransomware gang by arresting 14 suspected members and seizing computer equipment, luxury vehicles,...more
The Consumer Financial Protection Bureau (the Bureau) has issued final regulations (Final Regulations) to facilitate the transition away from Libor (the London Interbank Offered Rate) in the consumer credit market and to...more
The report addresses the market risks and regulatory challenges presented by stablecoins and urges Congress to act quickly. On November 1, 2021, the President’s Working Group on Financial Markets (PWG) in conjunction...more
The Financial Stability Board published its final report on the lessons learnt from the COVID-19 pandemic from a financial stability perspective. The Financial Conduct Authority (“FCA”) published a report on climate change...more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation. ...more
Proposed codified EU Regulation on cross-border payments: JURI draft report - The European Parliament's Legal Affairs Committee (JURI) has published a draft report containing a draft European Parliament legislative...more
Financial Guidance and Claims Act 2018 (Commencement No 7) Regulations 2021 - The Financial Guidance and Claims Act 2018 (Commencement No. 7) (Dissolution of the Consumer Financial Education Body) Regulations 2021 (SI...more
Regulatory Developments - United Kingdom: Kalifa Review of UK FinTech published - On 26 February 2021, HM Treasury published the Kalifa Review of UK FinTech, identifying priority areas to support the UK’s fintech sector. The...more