Appointments made to lead BIS central bank committees

John Williams (Federal Reserve Bank of New York) appointed Chair of the Markets Committee (MC) for three years from January 2023. Sir Jon Cunliffe's (Bank of England) term as Chair of the Bank for International Settlements' Committee on Payments and Market Infrastructures (CPMI) extended. Philip Lowe (Reserve Bank of Australia) appointed to a second term as Chair of the Committee on the Global Financial System (CGFS). At their recent meeting at the Bank for International Settlements in ...

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PRA Regulatory Digest - June 2022

News and speeches Competitiveness and productive investment: What parts do they play in the reform of insurance regulation? – speech by Charlotte Gerken 14 June 2022 Charlotte Gerken talks about the goals of competitiveness and productive investment, and the impact these are having on the Review of Solvency II. She says that changes to regulations for UK insurers could help to achieve these goals. Competitiveness and productive investment: What part do they play in the reform of insurance r...

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Sberbank (Switzerland) AG: FINMA partially lifts measures

The Swiss Financial Market Supervisory Authority FINMA is enabling Sberbank (Switzerland) AG to settle claims of non-sanctioned creditors. The bank’s improved financial stability and the current situation regarding sanctions are permitting the bank to take this step. FINMA is enabling Sberbank (Switzerland) AG to settle due claims of its creditors and make corresponding payments from 1 to 5 July 2022. This does not include repayments in particular to san...

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SEC Charges Empires Consulting Corp. with Fake Trading Scheme

The Securities and Exchange Commission today announced fraud charges against Empires Consulting Corp. (EmpiresX), its founders Emerson Sousa Pires and Flavio Mendes Goncalves, and its head trader Joshua David Nicholas, for a scheme that allegedly raised at least $40 million by luring investors with false claims of one percent daily profits, but instead misappropriated large sums of investors' money for personal uses. According to the SEC's complaint, since at least late 2020, EmpiresX, based ...

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Mark T. Uyeda Sworn In as SEC Commissioner

The Securities and Exchange Commission today announced Mark T. Uyeda has been sworn into office as a Commissioner by Brian Johnson, Assistant Director of the Division of Investment Management's Rulemaking Office. Commissioner Uyeda was nominated by President Biden earlier this year and confirmed by the U. S. Senate on June 16. "I’m honored to welcome Mark to the Commission," said SEC Chair Gary Gensler. "Mark brings extensive experience in corporate and securities law, including the past 15 y...

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OCC Hosts Compliance and Operational Risk Workshops in St. Louis

News Release 2022-78 | June 30, 2022 OCC Hosts Compliance and Operational Risk Workshops in St. Louis WASHINGTON — The Office of the Comptroller of the Currency (OCC) will host two workshops July 26-27 in St. Louis for directors of community banks and federal savings associations supervised by the OCC. The Compliance Risk: What Directors Need to Know workshop on July 26 is focused on the critical elements of an effective compliance risk management progr...

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Guidance: OFSI General Licence INT/2022/1968500

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Letter from ESMA Chair to EC - Prioritisation of 2022 ESMA deliverables

The Chair 28 June 2022 ESMA22-106-4013 John Berrigan Director General Directorate General Financial Services, Financial Stability and Capital Markets Union European Commission 1049 Brussels Belgium Ref: Prioritisation of 2022 ESMA deliverables Dear Mr Berrigan, As part of our ambitious work programme, ESMA is delivering on several new legal mandates in 2022 while further gearing up the convergence agenda and maintaining high supervisory standards ac...

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Speech: Covid and the UK Economy - Speech by Clare Lombardelli, Chief Economic Advisor, HM Treasury

Thank you, Jon, the Strand Group and the Corporation of London for inviting me to speak this evening. And thanks to you all for coming. It’s really great to be with you. I’m going to talk this evening about the Covid pandemic and the UK economy, from the perspective of the Treasury. Specifically: What was the size and the nature of the shock to the economy? How did we understand the economic impact in the Treasury? What data and tools did we use? How did we design the economic policy res...

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National Statistics: GDP deflators at market prices, and money GDP June 2022 (Quarterly National Accounts)

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