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As Donald Trump prepares to take office in 2025, the Digital Chamber is advocating for a significant overhaul of the SEC's approach to cryptocurrency regulation. The group emphasizes the need for transparency and collaboration, criticizing past policies and urging a shift towards a more cooperative regulatory framework.The Chamber also calls for legislative action on stablecoins and opposes the reappointment of SEC Commissioner Caroline Crenshaw, citing her detrimental impact on crypto innovation. With a potential policy shift on the horizon, stakeholders are hopeful for a balanced approach that fosters innovation while protecting investors.
The Parliamentary Commission of Inquiry (CEP) has issued 20 recommendations to the Federal Council following the Credit Suisse crisis, emphasizing the need for enhanced powers for Finma, improved inspections, and better risk management. Criticism was directed at former Finance Minister Ueli Maurer for inadequate communication regarding the bank's liquidity issues, which contributed to the crisis. The CEP's report highlights the importance of transparency and accountability in the oversight of systemically important banks to prevent future financial instability.
Switzerland requires a Lex UBS to address the risks posed by the newly formed megabank following the state-backed takeover of Credit Suisse by UBS. The PUK report highlights the failures of previous banking regulations and calls for stricter corporate governance, larger capital cushions, and personal accountability for bank executives. Additionally, it emphasizes the need for enhanced financial market supervision to prevent future mismanagement.
The Swiss parliament's inquiry into Credit Suisse's collapse criticized the financial regulator Finma for granting inappropriate capital relief, which masked the bank's true financial state. The report highlighted years of mismanagement at Credit Suisse and called for enhanced regulatory powers for Finma, including the ability to impose fines on banks and their executives. It also urged the government to reform the bonus system and improve crisis response measures, paving the way for new financial legislation in Switzerland.
Morocco is finalizing its first set of cryptocurrency regulations, developed with the assistance of the World Bank and IMF, aiming to protect users while fostering innovation. With growing crypto adoption, the proposed laws will undergo public discussions before parliamentary approval, positioning Morocco as a potential leader in crypto regulation among developing nations.
The final report from the Parliamentary Commission of Inquiry (PCI) on the Credit Suisse crisis will influence Swiss banking regulations, focusing on the actions of authorities during the emergency merger with UBS. It scrutinizes the conduct of FINMA and the Swiss National Bank, highlighting potential failings by former Finance Minister Ueli Maurer. Recommendations from the PCI are expected to shape future regulations for "too big to fail" banks, with amendments likely to be proposed by the Federal Council in 2025.
The Swiss financial watchdog, Finma, faces severe criticism following the Credit Suisse crisis, which was narrowly averted by government intervention. A parliamentary report highlights Finma's "partial ineffectiveness" and questions its leniency towards the bank, despite numerous warnings. The report emphasizes that the primary responsibility for the debacle lies with Credit Suisse's management and board.
The Parliamentary Commission of Inquiry (CEP) has issued 20 recommendations to the Federal Council to prevent future crises following the Credit Suisse debacle. Key proposals include enhancing FINMA's powers, increasing transparency in bank inspections, and revising "too big to fail" legislation to consider international dependencies. Additionally, the CEP emphasizes the need for improved risk management, better information exchange among authorities, and greater accountability of systemically important banks to the Swiss economy.
The Parliamentary Commission of Inquiry (PUK) has criticized the Federal Council for its inadequate early crisis detection regarding the downfall of Credit Suisse. The report highlights the need for improved cooperation among authorities, better risk management, and calls for stricter regulations for large banks, particularly in light of UBS's significant size relative to Switzerland's GDP. Additionally, the conduct of former Finance Minister Ueli Maurer is scrutinized for insufficient communication with the Federal Council and his successor.
The Parliamentary Investigation Commission (PUK) has criticized the Federal Council for its inadequate early crisis detection and information sharing regarding the collapse of Credit Suisse. The report highlights failures in risk management and the limited effectiveness of Finma's supervisory activities, while also scrutinizing former Finance Minister Ueli Maurer's lack of communication. The PUK calls for improved regulations for large banks, emphasizing the need for sufficient capital resources and stricter regulatory relief measures.
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