Money laundering is a growing threat to financial institutions potentially placing them in the cross hairs for large regulatory fines, which is putting a greater emphasis on the role of the MLRO
Europe
First phase of SFTR reporting obligations likely to face some disruption
The newness of the SFTR framework for some market participants could see them caught out by its complexity when the first phase of the reporting obligations goes live in April next year
BSB publishes final guidance to support UK conduct rules
The Banking Standards Board has finalised it fourth item of guidance, which deals with regulatory references, where it was decided to stick with three high level principles to help firms with compliance
ECB stimulus package likely to exacerbate eurozone bank problems
The European Central Bank’s (ECB) -0.10% reduction in its deposit facility to -0.5%, the resumption of quantitative easing and its forward guidance on interest rates are likely to pile more pressure on already struggling euro-area banks, according to credit rating agencies.
Adam Farkas appointment as AFME CEO triggers criticism
Adam Farkas has resigned as executive director at the European Banking Authority (EBA), effective from January 31, 2020, following his appointment as CEO of a leading financial services lobby group in what is a controversial move.
AFME calls on EU to support green securitisations as investor interest grows
There is a growing interest from investors in green securitisations said the Association for Financial Markets in Europe (AFME) in a report, which is calling for more EU support for the sector.
Brexit would leave the EU a significantly diminished capital markets player
Should the UK leave the EU, it will see the EU’s capital markets being smaller, less liquid and less well developed with France becoming the union’s dominant player, the think tank New Financial said in a report.
Despite stronger credit ratings, European bank debt is riskier
A paradox of financial reforms is that European banks have become more robust over the last five years, but the debt they issue has become more risky, said Moody’s Investors Service in a report.
Trading on pre-released polls is market abuse says FCA
Trading securities based on information from yet to be published polls could be a breach of the EU’s market abuse regulation (MAR), the UK’s Financial Conduct Authority said in a statement.
UK retains strong attractions for financial firms post-Brexit
Brexit has cast a long shadow over the UK economy, fostering economic and political uncertainty. However, its regulatory and legal structures remain a strong attraction for financial firms to keep locating to the UK
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