Digital Assets Consultation Offers First Step In Regulation
The recently published International Organization of Securities Commissions
consultation intending to establish coordinated international regulation of
cryptocurrency and digital assets, will benefit and protect retail
investors against financial crime risk, also allowing legitimate market
entrants to distinguish themselves from less scrupulous participants, says
Fred Saugman at WilmerHale.
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https://www.law360.co.uk/financial-services-uk/articles/1694041?nl_pk=4fb41…
Pension Trustee Skills Under Spotlight After Bond Crisis
By Joel Poultney
The U.K. government announced on Tuesday it would be probing the skills and
abilities of pension scheme trustees in the wake of the government bond
crisis that rocked markets in 2022.
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https://www.law360.co.uk/financial-services-uk/articles/1698059?nl_pk=4fb41…
Gov't Unveils Plans To Consolidate Small Pension Pots
By Joel Poultney
The government set out a framework Tuesday designed to consolidate the
growing number of small pension pots, warning that future legislation might
be necessary to prevent a savings scheme from being started every time
someone begins a new job.
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https://www.law360.co.uk/financial-services-uk/articles/1698058?nl_pk=4fb41…
Plan To Recast £2.5T Pensions Sector Raises New Risks
By Martin Croucher
The government unveiled a set of reforms Tuesday designed to tap the U.K.'s
£2.5 trillion ($3.2 trillion) pension sector for investment in new
technology startups — but experts say the shakeup could lead to an
uncertain future for millions of workers saving for retirement.
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https://www.law360.co.uk/financial-services-uk/articles/1698056?nl_pk=4fb41…
GOP Lawmakers Want Crypto Broker's China Ties Investigated
By Aislinn Keely
A coalition of Republican lawmakers on Monday called on the U.S. Department
of Justice and the U.S. Securities and Exchange Commission to investigate
potential ties between a crypto firm whose leaders testified before
Congress on its novel path to registration under securities laws and the
Chinese Communist Party.
Letter attached
https://www.law360.com/fintech/articles/1697880?nl_pk=bd316618-088c-4274-ab…
What To Expect From High Court's Whistleblower Case
The U.S. Supreme Court's upcoming decision in Murray v. UBS Securities will
likely have widespread implications for the future of anti-retaliation
whistleblower litigation, and could make it more difficult for would-be
whistleblower-employees to succeed on anti-retaliation claims under the
Sarbanes-Oxley Act, say Ann-Elizabeth Ostrager and Diane McGimsey at
Sullivan & Cromwell.
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https://www.law360.com/banking/articles/1696378?nl_pk=99a2a594-20ad-4b2f-a2…
CORRECTION: Judge Urged To Keep Wells Fargo Deal Stayed
By Sydney Price
An Ohio federal judge was urged by plaintiffs in a California lawsuit
against Wells Fargo to continue halting proceedings on a $94 million deal
settling claims the bank improperly sent mortgages of struggling borrowers
into forbearance during the COVID-19 pandemic, arguing ongoing similar
litigation may risk contradictory outcomes for plaintiffs.
Response attached
https://www.law360.com/banking/articles/1697229?nl_pk=99a2a594-20ad-4b2f-a2…
GOP Reps Press Fed's Powell To Rev Up SVB Doc Hunt
By Jon Hill
Republicans on the House Oversight Committee pressed the Federal Reserve on
Monday to turn over examiner reports, internal memos and other material
they are seeking as part of a probe of Silicon Valley Bank's failure,
escalating their requests to the central bank's top official.
2 documents attached
https://www.law360.com/capitalmarkets/articles/1697822?nl_pk=8da16ff7-f140-…
Coinbase Knew Securities Laws Applied, SEC Tells Judge
By Aislinn Keely
The U.S. Securities and Exchange Commission told a New York federal judge
that crypto exchange Coinbase knew its activity could lead to the current
enforcement action against it, saying the firm repeatedly disclosed the
risk that parts of its business could be subject to securities laws.
Letter attached
https://www.law360.com/capitalmarkets/articles/1697640?nl_pk=8da16ff7-f140-…
