Regulatory RelationsRSS

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.

With Brexit done battle lines now drawn on regulatory alignment

With the UK having left the EU on January 31, the two jurisdictions are now preparing for tense negotiations from March over their future relationship with financial firms looking on nervously from the sidelines

IOSCO 2020 priorities include tackling market fragmentation

Tackling investor issues related to crypto assets, artificial intelligence and machine learning, market fragmentation, passive investing and index providers and retail distribution and digitalisation are the five main 2020 objectives for the International Organization of Securities Commissions (IOSCO). 

Mnuchin dismisses CLO fears, but frets about mortgage origination

During a Congressional hearing, US Treasury secretary Steven Mnuchin expressed concern for financial stability over the rapid growth of non-bank mortgage originators, but was more relaxed about the rise in CLOs. By Justin Pugsley. 

FINMA’s first ever risk report highlights issues such as Libor and cross-border market access

The Swiss Financial Market Supervisory Authority (FINMA) published its first ever risk monitoring report highlighting six main areas of concern, which include cyber attacks, the Libor transition and cross-border market access issues.

Legendary central banker Paul Volcker passes away at 92

The former chairman of the US Federal Reserve, Paul Volcker, who was famous for bringing US inflation under control in the early 1980s and later for the rule named after him to curb bank proprietary trading, passed away on December 8, 2019, aged 92.