Regulatory RelationsRSS

UK regulators welcome retention of two-year TTP powers

The Bank of England and the Prudential Regulation Authority welcomed the move by the UK Treasury over its intention to retain the regulators’ temporary transitional power (TTP) for two years after the UK’s transition period with the EU ends.

ESMA and MAS sign MoU to allow use of Singapore benchmarks in EU

The process allowing Singaporean interest rate benchmarks to be used in the EU has been completed following the signing of a memorandum of understanding (MoU) between the authorities of the two jurisdictions.

UK starts trade talks with US with bankers concerned over EU market access

The UK is sticking to the Brexit deadline as it starts trade talks with the US while negotiations stall with the EU leaving bankers concerned over a deal on financial services. 

FSB monitoring key nodes of financial system to detect stability threats

The Financial Stability Board (FSB) said it is carefully monitoring the key nodes of the financial system and that so far it is more resilient than before and is in a better position to sustain the economy thanks to the G20-inspired reforms. 

UK upper house calls for structured dialogue with EU over financial services

The UK’s upper house of parliament, the House of Lords, has called on UK finance minister Rishi Sunak to establish a structured dialogue with the EU to support cross-border financial services and to manage any future regulatory divergence.

FCA expects most bank staff to work from home during Covid-19 crisis

Designated senior managers at financial firms are responsible for identifying which employees have to travel to work, but the overall number of employees onsite should be far smaller than the number normally required for business as usual, said the UK’s Financial Conduct Authority (FCA).

IOSCO coordinating with regulators over Covid-19 fallout

Regular dialogue and regulatory cooperation to respond to the fallout from the Covid-19 pandemic on capital markets and their infrastructures is taking place, according to the International Organization of Securities Commissions (IOSCO).

European Parliamentary group urges UK to extend transition period

The largest political grouping in the European Parliament has urged the UK government to extend the transition period beyond December 31 due to the fallout from the Covid-19 pandemic. 

Heath Tarbert

CFTC fires shot across the bows of foreign regulators

The CFTC’s amendments over granting exemptive relief for foreign firms operating in US markets is partly a warning to foreign regulators to reciprocate that deference to US firms in their markets

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.