Regulatory RelationsRSS
Jennifer Hlad

A Swiss perspective on equivalence

In July 2019, the Swiss stock exchange and its operator SIX were stunned by the EU decision to deny Switzerland and its stock exchange equivalency status. As a result, Swiss stocks could no longer be traded on European multilateral trading facilities (MTFs). But this did enable some valuable insights. 

Sydney Harbour

Australia trade deal paves way for UK to join CPTPP

On June 14, the UK signed a trade deal in principle with Australia, which is supportive for financial services, and paves the way for the UK to enter the Progressive Agreement for Trans-Pacific Partnership (CPTPP), an important trading bloc, which the UK wants to join. 

Liz Truss

UK allowed to apply for CPTPP membership

A Pacific trade pact has given the UK the green light to apply to become one of its members marking a significant pivot for the country following Brexit though there are doubts over whether it will do much for financial services.

Covid-19 vaccinations are critical part of operational risk management says SFC

Ensuring staff in financial firms are vaccinated against Covid-19 should be considered as a critical part of operational risk management, the Hong Kong Securities and Futures Commission (SFC) said in a statement on June 1. 

Online payment

US inter-agency co-operation deepens to provide fintech guidance to banks

US supervisors at federal and state level are looking to work closer together to provide greater clarity to the banking community on fintech issues and the adoption of new innovative technologies. 

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. 

Basel Committee remains vigilant over Covid-19 risks in this year’s work plan

The Basel Committee on Banking Supervision has committed to continue monitoring the impact of the Covid-19 pandemic on large banks in its 2021–2022 work plan, and stands ready to mitigate any potential risks. 

Bryan Stirewalt

Green global standard setter needed to drive adoption of climate finance

Jurisdictions are mostly pursuing their own initiatives on areas such as green bond standards but should an international body be set up to help harmonise them?

Senate confirms Gensler as SEC chair signalling tougher capital markets supervision

Gary Gensler has been confirmed as chair of the US Securities and Exchange Commission (SEC) by the US Senate, leaving capital markets firms to face increasingly tough supervision.

Shaun Hurst

Future of UK regulatory regime still unclear

In any given year, preparing the UK’s financial services sector for a decoupling from the European Union would have been a monumental task. Throw in a global pandemic and an eleventh-hour trade agreement that made only 90 references to financial services in its 1246 pages, it would be fair to call it a near-impossible task.