As banks have retreated from lending following the financial crisis, new types of alternative lender have sprung up, often with more innovative offerings. Their growth is likely to attract increased regulatory interest. By Stephen Surgeoner, partner at Dechert LLP.
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UK plans to extend the senior managers & certification regime
The Financial Conduct Authority wants to extend the senior managers & certification regime to many more UK-based financial firms. Fortunately, many of the earlier wrinkles in the regime have been ironed out and the regulator is proposing to apply it proportionately. Justin Pugsley reports.
South Africa readies for ‘twin peaks’ regulatory model
South Africa is undergoing financial reforms, one of which is to introduce a new twin peaks model that separates out conduct and prudential regulation. Justin Pugsley reports.
MiFID II forcing dark pool operators to evolve
MiFID II is having a profound impact on trading strategies and relationships across the European financial services sector – and operators of ‘dark pools’ are no exception. Justin Pugsley reports.
UK's senior managers & certification regime likely to see more investigations
As the UK’s senior managers and certification regime is extended more investigation are likely to ensue though it may not lead to a sharp rise in corresponding disciplinary enforcement actions.
Banks question role of ‘three lines of defence’ model for risk management
Risk management models such as the three lines of defence might be losing their effectiveness for banks following the avalanche of new rules and different ways of operating since the global financial crisis. By Todd Partridge, vice president of product marketing at Synchronoss.
Italy’s bank rescues raise hackles in Germany
It seems that not all resolution conditions for failing banks are equal across the EU, with Italy managing to sidestep Europe’s resolution regime to deal with two of its failing banks.
European Commission ponders transaction tax to fill budget hole
European Commission ponders pan-EU funding alternatives to plug loss of UK contributions once the country leaves the bloc, including a tax on financial transactions.
UK remains top investor destination for financial services
The UK remains by far the top European destination for foreign direct investment for financial services according to an EY survey, but firms are clearly concerned about the outcome of the UK's negotiations to leave the EU.
Japan's Financial Services Agency rethinks its supervisory approach
To help spur sustainable economic growth, Japan is looking to loosen the supervision of its banks to make it easier for them to lend.
