There is a great deal of debate about how to facilitate behavioural change within banks. One way could be to have regulators on site, as ASIC is planning to do in Australia following a spate of banking scandals. But is it the right approach? By Lisa Andersson, head of research at Aktis.
Regions
Issues remain one year on from MiFIR transaction reporting going live
Getting ready for MiFIR transaction reporting was a truly Herculean task, but for the most part the industry succeeded. However, there are still numerous issues that need tackling, and regulators are becoming impatient. By David Nowell, senior regulatory reporting specialist at Kaizen Reporting.
Emerging market firms getting drawn into the net of Western regulations
Regulatory tomes such as MiFID are predominantly for EU-located firms, but such is their growing extra-territorial reach, particularly for non-EU firms wishing to trade with EU entities, that emerging market players are being forced to comply with many aspects of these frameworks at considerable cost. By Tenette Abanilla, director and chief operating officer at Dinosaur Merchant Bank.
Brexit could set tone for cross-border regulatory arrangements
Any EU/UK deal on financial services could significantly influence how other jurisdictions recognise third country financial services providers. By Justin Pugsley.
Europe forced to rethink conduct regimes following Danske Bank scandal
A spate of money laundering scandals is forcing EU regulators to rethink the way they regulate and monitor financial institutions’ activities around ‘dirty’ money
Hundreds of firms at risk of non-compliance over CSDR requirements
A regulatory consultancy has found that most firms conducting internalised securities transactions covered by CSDR are unaware that its reporting requirements apply to them.
PBoC cuts bank reserve ratio by 1%
PBoC cuts reserve requirements by 1% for banks to help sustain domestic economy and to ensure sufficient liquidity for the Chinese New Year celebrations.
ECB places Italy’s Banca Carige into temporary administration
ECB places small Italian bank into temporary administration after it fails to gain shareholder support for a recapitalisation.
US banks up to market volatility; CAMELS under review
Two US regulators have said that US banks can withstand market volatility, while one of them confirmed that CAMELS is to be reviewed.
EU to significantly toughen oversight of investment firms
The European Council has decided that larger investment firms will be subject to greater regulatory requirements while those based in third countries and operating in the EU will see more intrusive oversight from the Union
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