Regulatory RelationsRSS
House of Lords

Slavishly following EU rules ‘would threaten UK financial stability’

Simply passing EU rules into UK law could threaten financial stability and undermine the competitiveness of the City of London, the UK parliament’s upper house was told by senior regulators. 

Hong Kong budget seeks to enhance territory’s attraction as financial centre

Hong Kong is taking measures to boost financial services in its budget, which include a range of tax cuts on certain financial activities. 

Euro notes

Incomplete eurozone poses systemic threat

Think-tank warns that the US and UK should be wary of risks emanating from the still incomplete eurozone believing it poses a significant systemic risk

Rishi Sunak

EU and UK prepare for tough talks on post-Brexit financial services

A great deal of uncertainty lingers as the EU and UK prepare to negotiate how they will oversee cross-border financial services business after Brexit 

CFTC clarifies its right to terminate foreign access to US customers

Amendments have been adopted by the US Commodity Futures Trading Commission (CFTC) giving greater clarity to the agency’s processes to terminate the right of foreign firms to deal with US customers.

More than 1000 firms applied for TPR ahead of Brexit

London looks set to remain the financial services capital of Europe as the UK charts its post-Brexit future with 1000 EU firms planning to open new offices in the country, according to consultancy Bovill. 

BIS expands membership with three new central banks

The Bank for International Settlements (BIS) is broadening its emerging market membership by inviting the central banks of Kuwait, Morocco and Vietnam to join. 

Carney appointed as adviser to UK prime minister for COP 26

Bank of England governor Mark Carney has been appointed as a finance  adviser to UK prime minister Boris Johnson as part of the country’s commitment to the UN Climate Change Conference (COP 26) in an effort to drive sustainable financial system to support the transition to a net zero carbon economy.

New York retains crown as world’s top financial centre

New York not only remains the world’s top financial centre, but has extended its lead over London as the UK struggles with leaving the EU and Asian centres make greater in-roads, according to a report by consultants Duff & Phelps.

Fed finalises rule for determining when a company controls a bank

The Federal Reserve Board has finalised a rule to simplify and increase the transparency of its rules for determining control of a banking organisation making the process more predictable.