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Monique Melis

Greensill failure puts bank interactions with NBFIs under the spotlight

The meltdown of Greensill Capital and Archegos Capital Management is putting pressure on financial regulators to widen their scope and pay closer attention to banks like Credit Suisse cosying up to shadow banks for business. 

FCA consults on new prudential regime for investment funds

The Financial Conduct Authority (FCA) is consulting on changes to the UK Investment Firm Prudential Regime (IFPR) for investment firms subject to the Markets in Financial Instruments Directive (MiFID) II and aims to create a single, proportionate regime that reflects firms’ size and business. 

PRA proposes 'strong and simple' regulatory framework for smaller lenders

A proposal for a ‘strong and simple’ regulatory framework for the UK’s smaller non-systemic and domestically-focused lenders has been put forward by the Prudential Regulatory Authority (PRA), potentially marking a significant departure with the EU’s approach. 

UK regulators looking to make ‘quick fixes’ to MiFID II

The UK authorities are pushing on in earnest with reforms to the UK’s financial regulatory framework with one of the latest missives involving some ‘quick fixes’ to the markets in financial instruments directive (MiFID) II as proposed by the Financial Conduct Authority (FCA).

ESMA securitisation reporting update raises questions for investors

The European Securities and Markets Authority (ESMA) said on April 26 that it had reached the last stage in assessing applications from Securitisation Repositories (SRs) under the Securitisation Regulation (SECR) with market participants wondering whether the UK will follow suit.

Robin Henry

Archegos fallout raises troubling questions over bank risk controls

Credit Suisse’s removal of several senior executives, including its top risk and compliance officer, as a result of reported $4.7bn losses incurred by trades with Archegos Capital Management raises serious questions as to whether banks have learned sufficient lessons from the global financial crisis

ESMA calls for more effort to improve EMIR and SFTR data quality

Despite progress on data quality related to the European Markets Infrastructure Regulation (EMIR) and Securities Financing Transactions Regulation (SFTR), national competent authorities (NCAs) need to make further improvements.

Restoring SLR sees big US banks fret over cash deposits

Some large US banks, which have piled up very large cash deposits from their clients during the Covid-19 pandemic, have been advising corporate depositors to place their cash elsewhere such as in money market funds. 

Michael Hsu mooted to become acting comptroller of the currency

US treasury secretary Janet Yellen looks set to ask Michael Hsu, a senior supervisor at the US Federal Reserve Board, to become the acting head of the Office of the Comptroller of the Currency (OCC), according to media reports. 

US doubling down on carbon commitments to have big impact on banks

The Biden administration’s commitment to cutting US carbon emissions some 50-52% by 2030, using 2005 levels as a starting point, will have a significant impact on US regulation and bank lending.