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(The Trade)
The recommendations cover liquidity risk management and governance, stress testing and scenario design, and collateral management practices of non-bank market participants, focussing on liquidity risks arising from spikes in margin and collateral calls.
(Best Execution)
Following the 2022 BCBS-CPMI-IOSCO review of margining practices, and recent reports on stress in commodities markets, the FSB has published a consultation report listing eight proposed policy recommendations for the enhancement of liquidity risk management in the non-bank financial intermediation (NBFI) sector.
(WSJ)($)
The maker of the popular stock-trading app Webull is facing a multistate inquiry over its ties to China. Fourteen states are seeking information on Webull’s measures to protect sensitive investor data from the Chinese Communist Party, according to a letter posted Tuesday by Indiana attorney general Todd Rokita, whose office is leading the inquiry.
(Bloomberg)($)
Sixteen financial firms agreed to pay more than $81 million in civil fines after a federal probe found their employees used personal text messages for business purposes, marking the latest round of penalties to emerge from regulators’ so-called WhatsApp investigations.
(CoinDesk)
Sherrod Brown (D-Ohio), a crypto-skeptic who runs the influential Senate Banking Committee, is open to advancing long-sought legislation for stablecoins, Bloomberg reported Tuesday, citing an interview with him. Brown, according to Bloomberg, said that his concerns would have to be addressed before he would fully get behind a stablecoin law, however.
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