Latest articles from Justin Pugsley

SFC to enhance disclosures to boost Hong Kong’s role as a green financial centre

Providing better quality information and enhanced data disclosures are part of the Hong Kong Securities and Futures Commission’s (SFC’s) plans to help investors make better climate change-related decisions. 

ASIC extends licensing relief for foreign financial firms operating in Australia

Foreign financial services providers (FFSPs) are to get a further 12 months relief from having to hold an Australian financial services (AFS) licence for providing financial services to Australian wholesale clients.

A euro CBDC would not threaten euro-area deposit takers says Scope Ratings

Threats of central bank digital currencies (CBDCs) undermining bank deposit bases might be overstated, says Scope Ratings as it anticipates the European Central Bank (ECB) launching a pilot scheme sometime next year. 

FESE warns that pre-trade tape requirements would further fragment EU equity markets

Introducing pre-trade data in an equity consolidated tape (CT) combined with insufficient market structure protections could further fragment EU markets, said the Federation of European Securities Exchanges (FESE) on July 29. 

IRA puts US on course towards greener economy

The US agreed the biggest climate mitigation strategy in its history with the passing of the Inflation Reduction Act (IRA) on August 12 signalling the nation’s strong commitment to greening its economy. 

Barr sworn in as Fed’s vice chair for supervision

On July 19, Michael Barr was sworn in as vice chair for supervision at the US Federal Reserve and as a member of the board of governors and is described as pragmatic, collaborative and non-ideological. 

Industry warns over introducing excessive reporting requirements for Treasuries market

New public disclosures for US Treasuries must be carefully calibrated by market segment and only phased in gradually, industry trade bodies warned in response to a feedback request from the US Department of the Treasury. 

Looming expiry of SEC relief leaves European asset manager with ‘research’ headache

A decision by the US Securities and Exchange Commission (SEC) to let its Markets in Financial Instruments Directive (MiFID) II ‘no-action' letter lapse in July 2023 could dislocate global investment research markets because the EU and US will have two distinctly different regimes over how such content is paid for. 


China banks face soaring NPLs as economic woes intensify

Concerns grow over China’s banking system as Covid lockdown-induced economic slowdowns, bursting property bubbles and fraud plague the country’s lenders.

william je

Stablecoins winning regulatory acceptance – but at a price

Most jurisdictions appear increasingly inclined to accept stablecoins playing a role in the financial system. Some even see them as beneficial innovation. However, that will come at a price in terms of the rules they will have to follow.