In a bid to curb regulatory fragmentation and to foster international regulatory cooperation, the International Organization of Securities Commissions (IOSCO) has published 11 practices to encourage cross-border deference among regulators.
Regulatory Relations
UK plans regulatory tweaks as Brexit talks struggle
The UK authorities are firmly looking beyond EU membership and are starting to craft a new regulatory framework, which remains in harmony with global standards, but also takes national interests into account.
German court ruling over ECB bond buying defused
A challenge by Germany’s Federal Constitutional Court, which could have derailed the Bundesbank’s participation in the European Central Bank’s (ECB) stimulus programmes, appears to have been resolved.
KfW’s Joachim Nagel appointed as a deputy head at BIS
Joachim Nagel, who sits on the board of German state owned development bank KfW, has been appointed deputy head of the banking department at the Bank for International Settlements (BIS).
UK-US trade talks progress well with more scheduled for June
The UK and US completed formal trade talks on May 5-15 and reported good progress, with the next round of negotiations scheduled to take place on June 15-22.
Ashley Alder to lead SFC for three more years from September
Ashley Alder, the CEO of the Securities and Futures Commission (SFC), who was due to step down in September, will stay in charge for another three years, according to the Hong Kong government.
BIS appoints head for its Hong Kong innovation centre
Bénédicte Nolens has been appointed to head the Bank for International Settlements (BIS) Hong Kong innovation centre for three years starting July 1, 2020.
EU legal order under threat from German court ruling
Germany’s supreme court dealt a body blow to the EU by asserting the supremacy of the member states and by challenging the mandate of the European Central Bank and Court of Justice, potentially unpicking the bloc’s legal order
Firms lash out at ESMA over “regulatory creep”
If ESMA gets its way, third-country financial firms doing business in the EU will have to provide vast amounts of extra information in what many see as a Brexit-related political move
Hong Kong’s financial hub status in question after US comments
Threats from the US to end Hong Kong’s special trading status pose a potential long-term threat to the city’s role as a global financial centre. By Justin Pugsley.
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