GlobalRSS

London extends lead as top financial centre

The City of London has extended its lead in financial services despite concerns over the UK’s exit from the EU in March 2019. Justin Pugsley reports.

CFTC chair stresses “deference” for cross-border supervision of CCPs

CFTC chairman emphasises jurisdictions paying "deference" to each other’s regulatory regimes for the cross-border supervision of central counterparty clearing houses

BoE’s Carney takes on two more global roles

Bank of England governor and Financial Stability Board chairman Mark Carney has taken on two new roles related to monitoring the global financial system and economy.

Too soon for central banks to create cryptocurrencies, says BIS

The Bank for International Settlements says too little is known about cryptocurrencies for them to be created by central banks, with improvements needed in settlement systems, and more insight required about their risks. Justin Pugsley reports.

ISDA puts forward framework for determining cross-border comparability

An ISDA paper sets out a risk-based framework to help compare cross-border regulatory regimes for derivatives. Justin Pugsley reports.

Bank of England deputy governor warns over Basel III

Bank of England deputy governor warns that failing to sign-off on Basel III would challenge adherence to global banking standards 

MiFID rules on research charging could cause clash with the US

When MiFID II comes into effect it will provide a very different regime to the way EU and US organisations charge for investment research potentially opening up the prospect of a clash between the two jurisdictions 

Artificial intelligence

Regulatory arbitrage set to be a major 2018 trend

The combination of diverging regulatory regimes and the advent of artificial intelligence are likely to see the profile of regulatory arbitrage become much higher next year. However, regulators are far from helpless and can also use AI to their advantage. By Waymark Tech’s Mark Holmes. 

Algorithms

Regulation on the threshold of algorithmic-driven change

Algorithms are rapidly transforming financial services and, as a consequence, will change the oversight of firms, how they comply with rules and the way regulators interact with the industry. By professor Philip Treleaven, director of the UK Financial Computing Centre at UCL, and Jagdev Kenth, director of risk & regulatory strategy at Willis Towers Watson. 

Prison cell

Spread of tough conduct regimes could see more bankers jailed

More countries are adopting dedicated and comprehensive conduct regimes, suggesting that more bankers could go to jail in the future for wrongdoing. Justin Pugsley reports.

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