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Rishi Sunak

UK plans regulatory tweaks as Brexit talks struggle

The UK authorities are firmly looking beyond EU membership and are starting to craft a new regulatory framework, which remains in harmony with global standards, but also takes national interests into account. 

German court ruling over ECB bond buying defused

A challenge by Germany’s Federal Constitutional Court, which could have derailed the Bundesbank’s participation in the European Central Bank’s (ECB) stimulus programmes, appears to have been resolved. 

Wirecard scandal potentially highlights gaps in regulatory oversight

German payments firm Wirecard has filed for insolvency following a scandal involving the disappearance of €1.9bn in cash from its balance sheet, raising concerns that it was inadequately supervised. 

CRR Covid-19 quick fix package gets passed

European Commission proposals for a ‘quick fix’ package to the capital requirements regulation (CRR) to help mitigate the capital impact on banks from the economic slump caused by the Covid-19 pandemic were approved by the European Parliament and Council. 

UK banks and insurers ordered to plan for climate change risks by 2021

Banks and insurers have been ordered by the Bank of England to draw up plans by the end of 2021 detailing how they will cope with climate change risks. 

European Commission HQ

Forum delivers recommendations to European Commission to boost CMU

Yet another attempt is being made to breathe life into the EU’s CMU. This time it is 17 recommendations from a high level forum, most of which have been well received by industry with the baton now passed to the European Commission to act on them 

Deutsche Borse

Exchanges push to limit SIs' role as part of MiFID review

In a Federation of European Securities Exchanges webinar, some speakers called for the activity of systematic internalisers to be reined in further, for undermining transparency and price formation. By Justin Pugsley

Response to Covid-19 pandemic shows European banks can act quickly

The Covid-19 pandemic has shown European banks the “art of the possible” as they responded in record time to the fast evolving crisis, and consultancy McKinsey argues that this mindset is integral to these institutions reinventing themselves within the next three years. 

AMF still sees transparency issues in French corporate bond market

In an assessment of bond market transparency over two years after the markets in financial instruments directive (MiFID) II came into force, the French securities regulator, Autorité des Marchés Financiers (AMF), found there are still too many gaps in the needed data to gain a full picture of market activity. 

Banks alarmed over the possibility of negative UK interest rates

Commercial banks have waded into the Bank of England policy-makers’ debate over the possibility of imposing negative interest rates, warning that it would crush their earnings and diminish their ability to absorb an expected avalanche of bad loans as a result of the coronavirus crisis.