HKEX

Cleaning up Hong Kong’s IPO market faces several more years of reforms

Hong Kong’s huge success in attracting IPOs masks the fact that its stock market is still plagued with conduct issues and it is likely that there are several more years of regulatory reforms to come 

US Capitol

Growing concern that US regulatory reforms could harbour risks

Although the US never deregulated to the extent President Donald Trump promised, some of the changes that have been made have raised concerns about risk in some quarters

Nick Bayley

PRA Citi fine may be start of clampdown on big bank reporting failings

The big fine slapped on Citigroup for reporting failings by the UK’s PRA might be the start of a crackdown on other big banks struggling with their regulatory reporting 

Damon Batten

China seeks compliance with EU rules as it internationalises its benchmarks

As part of making their benchmarks internationally usable by regulated financial firms, Chinese providers are increasingly looking to comply with the EU benchmarks regulation as a stamp of approval

Steven Mnuchin

Mnuchin dismisses CLO concerns, but worries about mortgage origination

During a Congressional hearing, US Treasury secretary Steven Mnuchin expressed concern for financial stability over the rapid growth of non-bank mortgage originators, but was much more relaxed about the rise in CLOs 

Hester Peirce

Review of Dodd-Frank is warranted, say SEC and CFTC commissioners

Two commissioners from the SEC and the CFTC believe that Dodd-Frank needs reviewing as it is too regulator-centric and there should be a return of powers to private firms. By Justin Pugsley.

EBA

EBA study reduces Basel III capital estimate, but concerns around CVA linger

Big European banks will be relieved that the EBA lowered its original estimates around the capital requirements arising from implementing the finalised Basel III framework, but will be concerned about its views on CVA exemptions 

Flooding

Bank of England uses climate change scenarios for stress test

Proposals by the Bank of England for stress testing the effects of climate change on the financial system places the issue front and centre for UK regulators and financial firms 

Wells Fargo

US banks pulling ahead of European counterparts as regulation bites

Outdated business models, inefficient organisational structures and tougher regulation are seeing European banks falling further and further behind their US rivals

Laura Boyd

Firms should use SM&CR to streamline their governance

As the next wave of firms ready themselves for SM&CR, they should use its implementation as an opportunity to streamline their governance and declutter their operations