Four steps to implementing the Senior Managers and Certification Regime

The extension of the Senior Managers and Certification Regime in the UK will reach vastly more firms, but many of them have yet to consider the impact of this far-reaching body of rules on their operations. By James Marshall, senior regulatory consultant at TCC.

Bank of England confirms FPC re-appointments

Bank of England confirms three re-appointments made by the UK chancellor Philip Hammond to the Financial Policy Committee.

SFC fines Credit Suisse for breaches

Credit Suisse fined $39.3m by Hong Kong’s SFC, but escapes harsher penalties for reporting regulatory breaches and for taking remedial action.

GLEIF and SWIFT streamline entity verification processes

GLEIF inks deal with SWIFT to make it easier and more efficient for firms to identify counter-parties.

House of Representatives to give community banks more options

US House of Representatives votes to give community financial institutions more leeway to raise capital.

SFC sounds more warnings over cryptocurrencies

The SFC makes further warnings on cryptocurrencies and writes to exchanges and ICO issuers to ensure they are compliant with Hong Kong’s rules.

Big tech poses threat to financial stability, bankers warn

Banks call for big tech firms to be subject to same rules as them as they move into financial services and warn that this could threaten financial stability.

ECB: banks have made great strides but need to do better

EU banks have made good progress according to an ECB conference on banking supervision. However, ECB officials expressed concerns over bad loans and low profitability at some banks.

Jon Cunliffe

Rise of market-based finance “not a major threat to financial stability”

Market-based finance providers such as asset managers have helped to dramatically increase the size of the shadow banking sector, raising the spectre of toxic risks finding a new home. But this is a thesis challenged by the Bank of England’s deputy governor for financial stability. By Justin Pugsley. 

CLO legal victory could free other structured products from risk retention rule

A legal victory for the CLO sector opens the possibility that other securitised products could be exempt from risk retention rules.

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