SEC Lays Its Cards on the Table With Assertion That DeFi Falls Under Securities Rules
CoinDesk 04/18/2023
The U.S. Securities and Exchange Commission’s (SEC) warning shot last week that decentralized finance (DeFi) could be thrown into its expanding definition of what makes a securities exchange is the latest move to formalize what Chairman Gary Gensler has been saying…
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UK regulators shake up financial services with new bill
The Banker 04/17/2023
The UK banking sector is expressing cautious optimism about the latest UK Financial Services and Markets Bill, which is the first major shake-up of UK financial services law since the last such act was passed more than 20 years ago…
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The March 2023 Bank Interventions in Long-Run Context – Silicon Valley Bank and Beyond
Harvard 04/17/2023
In March 2023, the failure of Silicon Valley Bank (SVB) shocked global financial markets. In many ways, the SVB failure was a classic bank run, with details that appear drawn from the 19th century rather than the 21st. With a deposit base more than 90% uninsured…
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Regional Banks Could Face Global Regulations Following Crisis
Pymnts 04/17/2023
The report notes that The Basel Committee on Banking Supervision, which established global standards, had pledged in March to gauge the need for new rules following the collapse of Silicon Valley Bank (SVB), a regional lender that did business whose demise kicked off a worldwide banking crisis…
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Q1 2023 U.S. Legal & Regulatory Developments
Lexology 04/17/2023
As required by Rule 10D-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the New York Stock Exchange (the “NYSE”) and Nasdaq have issued their respective proposed clawback listing standards. The proposed standards were published…
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