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UK banking ethics improving, but work still to be done

Some 13% of bankers believe it is difficult to progress their careers in a completely ethical manner while a third worry about negative fallout if they raise concerns, according to the second annual report by the Banking Standards Board. By Justin Pugsley.

EU flags

An unhappy 60th birthday

In March the EU celebrated its 60th birthday while the UK served notice to leave the club. The European Commission is now in a rush to alleviate the EU’s dependence on the City of London, raising the prospect of fragmented capital markets.

Bank of England steps up stress test rigour

Not only are this year’s Bank of England stress tests to be the toughest yet, but they will also break new ground in scenario analysis. Justin Pugsley reports.

UK government triggers two-year exit process from EU

UK prime minister Theresa May has finally served notice that the UK is leaving the EU, reports Justin Pugsley.

Leading trade association insists on sign-up to FX code

When the Bank for International Settlements launched its FX code of conduct there were doubts if it would really be effective. Nonetheless, it has been given a big boost by a leading trade association insisting that its members sign up to it.

G20 stands by Basel reforms

The G20 may have abandoned its cast iron pledge to stand by free trade, but it did make a strong commitment to finalise the Basel III framework, as Justin Pugsley reports. 

China opens up part of financial services markets

Keen to turn itself into a global financial centre, China has opened up parts of its financial markets to foreign institutions. Justin Pugsley reports. 

FSB warns G20 over losing reform momentum

The Financial Stability Board has voiced its concerns to the G20 about loss of reform momentum and capital markets fragmentation. Justin Pugsley reports.

Brexit means end of access to EU single market

The UK has been warned that leaving the EU means an end to access to its markets for financial services. Justin Pugsley reports. 

FDIC’s Hoenig proposes a modern Glass-Steagall Act

Thomas Hoenig, the vice chairman of the Federal Deposit Insurance Corporation, is proposing a revival of the Glass-Steagall Act, but with some twists. Justin Pugsley reports.

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