What’s happening? Well, crypto assets are getting (more) regulated. Soon. There’s nothing new about Cryptoassets. Born in 2009, Bitcoin was followed by a plethora of cryptographically secured processes, publicly recorded using distributed ledger technology (DLT). There is now a panoply of DLT uses – from cryptocurrencies, but now also including central bank digital currencies (CBDC), non-fungible tokens (NFT), to Decentralised
The CFTC issued three final rules in late 2020 relating to different components of the CFTC’s swap data reporting requirements: real-time public reporting (Part 43), swap data recordkeeping and reporting (Part 45) and data verification (Part 49). These final rules will be implemented in two phases. Phase one with an implementation date of December 5, 2022, and phase two in
In November 2020, the Bank of England, “BoE”, announced that it was planning to move the collection of statistical data, migrating from its Online Statistical Collection Application (OSCA) portal to the new Bank of England Electronic Data Submission (BEEDS) portal. BEEDS is an online application that enables firms to complete and submit data submissions online. Firms can also view the
2052a & Company Philosophy As I make my daily commute from kitchen to home office, I’ve been thinking about how company philosophy really matters in our daily lives. For many people, the very nature of their role means that they must be in a specific place of work. For others, the physical location is less important and all that’s really
Click here to read the Simplified Chinese post. The Covid-19 pandemic had shattered many plans and dampened the spirits of businesses since it hit the world in 2020. Although Covid-19 remains on the agenda, we are starting to see the bleak side of recovery in the economy, as well as the possibility of embracing innovation and transforming the financial services
The European Union adopted new regulations for investment firms, the Investment Firm Regulation (IFR) and the new Investment Firm Directive (IFD). Also known as the Investment Firms Prudential Regulation (IFPR) in the UK. For all investment firms the key question will be which class does your firm belong to. There are 3 classes each with distinctive reporting requirements. Class 1 (systemic investment
Two years on from the last Dear CEO letter from the Prudential Regulation Authority, there has now been another thematic review letter issued. This most recent letter re-iterates the need for firms to provide far better reliability, controls, and governance around regulatory reporting. This has been a theme in previous letters, but rarely with the strength and conviction of wording
