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

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.

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. 

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.

Financial sector gets behind Denmark’s decarbonisation goals

Denmark’s financial sector, through its climate partnership initiative, has published an action plan on how it will contribute towards the Nordic state’s aims of reducing its carbon emissions by 70% by 2030. 

FCA asks lenders to exercise tailored forbearance towards struggling mortgage borrowers

The UK’s Financial Conduct Authority (FCA) has updated its guidance relating to lenders that have been granted mortgage payment deferrals urging them to exercise tailored forbearance towards borrowers that struggle to restart repayments. 

ESMA puts forward candidates for CCP supervisory committee for European Parliament approval

Candidates have been chosen for the European Securities and Markets Authority’s (ESMA) supervisory committee to oversee central counterparty clearing houses (CCP) under the European Market Infrastructure Regulation (EMIR 2.2).

Robin Penfold

EU fires starting gun on next set of regulatory reforms

The EU is embarking on the next set of regulatory reforms, which will be centred around environmental, social and governance (ESG) factors and are very likely to become highly influential globally.