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Switzerland toughens “too big to fail” rules in wake of Credit Suisse crisis
UBS calls measures “extreme” and says they are “neither proportional nor internationally aligned.”
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GRIP Extra: Bitcoin hits record high, SEC commissioner slams deregulation
Other news includes China threatening legal action against companies taking US guidance not to buy Chinese chips, and the UK sanctioning an accountant for buying oil tankers for Lukoil.
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GRIP Extra: Coinbase victim of $400m cyberattack, Trump fires Copyright Office director
Other news includes Nvidia planning an R&D center in Shanghai, the SEC and FINRA withdrawing a joint crypto custody statement, and the CEO of Novo Nordisk stepping down.
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Swiss regulator orders Julius Baer to pay $5m over serious AML violations
This latest action by FINMA serves as a reminder to all financial institutions of the critical importance of adhering to AML regulations and maintaining rigorous due diligence processes.
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GRIP Extra: DHS investigates ex-CISA director Krebs, Atkins in as SEC chair
Other news includes a whistleblower testifying that Facebook was working with CCP on censorship, Treasury announcing the rollback of 15 rules and guidance statements, and the publication of several ESMA documents.
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GRIP Forecast 2025 – Enforcement
The GRIP team looks into the crystal ball and does some plain speaking about what the future might bring – this time looking at general trends in enforcement action by regulators globally.
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FINMA clarifies investor disclosure rules
The new circular sets out the regulator’s expectations centered on providing investors with adequate information to enable them to make informed investment decisions.
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GRIP Extra: Gensler and Lizárraga out at SEC, Hwang gets 18 years
Other news includes Microsoft state cyberattack appeals, greenwashing claims against Canadian banks, Northvolt files for bankruptcy and Chinese firms expand California presence.