RegionsRSS
Nick Barnard

FCA likely to go after participants involved in cum-ex trading strategies

The UK’s Financial Conduct Authority is likely to pursue parties who were involved in cum-ex trading, a process for reclaiming tax rebates across the EU, as it sees the activity as an abusive trading strategy

Chri Burn

UK regulators must remain bold post pandemic

UK regulators acted decisively when the Covid-19 pandemic struck, but once it passes they must retain the initiative in the face of changed markets and a different environment

Singapore looking to allow foreign banks to set up digital-only subsidiaries

The Singapore Monetary Authority (MAS) said it is thinking of allowing foreign banks with a significant local presence to open digital-only banking units. 

Fair value rule change could resurrect bank-sovereign ‘doom loop’, warns Fitch Ratings

EU banks could increase their carry trades in response to new rules insulating them from reporting fair value in response to movements in their sovereign bond holdings, according to a report from Fitch Ratings, with the risk that it could reinforce the sovereign-bank nexus that contributed to the last European sovereign debt crisis.

Ryozo Himino appointed to lead Japan’s FSA

Ryozo Himino took over from Toshihide Endo as commissioner of Japan’s Financial Services Agency (FSA) and will focus on keeping the country’s financial regulatory frameworks in line with global rules.

EBA and ESMA consult on suitability requirements for senior bank management

A consultation on revised joint guidelines concerning the assessment of the suitability of members of the senior management of banks was launched on July 31 by the European Banking Authority (EBA) and the European Supervisory Market Authority (ESMA).

ECB takes further steps to conserve bank capital

Banks have been urged to pause shareholder payouts for longer by the European Central Bank (ECB), which added that it would also not compel them to meet their Pillar 2 requirements, concerning capital assessments, until the end of 2022 at the earliest. 

HKMA sets out Libor transition timetable for banks

On July 31, the Hong Kong Monetary Authority (HKMA) announced its London interbank offered rate (Libor) transition milestones to alternative reference rates (ARRs) for financial institutions operating in the territory. 

APRA gives green light for banks and insurers to resume dividend payments

Banks and insurers can resume dividend payments to shareholders provided payouts are limited to 50% of profits, the Australian Prudential Regulation Authority (APRA) said on July 29. 

Piers Haben

Regulators firefight Covid-19 with “Quick Fix” hose

Though EU regulators have moved swiftly to ease compliance and capital burdens on banks, they nonetheless still face challenges, particularly when the non-performing loans start to pile up.