The UK government is “doing everything in its power” to promote the country’s financial services sector and to sweep away obstacles, protectionism and antiquated rules with advanced, high-standard agreements with other jurisdictions
Regulatory Relations
Bank of Canada governor takes over as GHOS chair
The Group of Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee, has appointed Tiff Macklem, governor of the Bank of Canada, as its new chair for a three-year term.
UK financial services stabilise five years on from triggering Brexit
Five years after the UK triggered Article 50 of the Lisbon Treaty to leave the EU, the movement of capital and financial staff to the bloc appears to have stabilised, according to the EY Financial Services Brexit Tracker.
FSB work programme to focus on galvanising global financial stability
Galvanising international co-operation around financial stability, enhancing resilience of shadow banks and cross-border payments and innovation are all part of the Financial Stability Board’s (FSB) 2022 work programme.
US Fed’s earnings surged in 2021
Earnings by the Federal Reserve system rocketed to $107.9bn last year from $19.4bn the year before, the central bank said on March 21.
Basel III, crypto and climate change all top FDIC priorities
The Community Reinvestment Act, climate change, the Bank Merger Act, crypto-assets, and the Basel III capital rules are all top priorities for the US Federal Deposit Insurance Corp (FDIC) this year, said its acting chair Martin Gruenberg.
FSB warns G20 that many risks remain as Covid pandemic recedes
The Financial Stability Board (FSB) warned the G20 that although financial resilience held up well during the Covid-19 pandemic, many challenges associated with moving to a post-pandemic world remain.
FDIC’s Gruenberg chairs FSB resolution group
The acting chair of the US Federal Deposit Insurance Corporation (FDIC), Martin Gruenberg was appointed as chair of the Financial Stability Board’s (FSB) Resolution Steering Group (ReSG) on February 15.
EU and Australian regulators sign MoU to reflect Emir 2.2
EU and Australian regulators sign memorandum of understanding (MoU) to reflect key amendments to the European Market Infrastructure Regulation 2.2 relating to central counterparties (CCPs).
Rampant digitisation forces EU to rethink regulatory frameworks
Rapid digitisation is forcing the EU back to the drawing board to shore up its financial regulatory framework and avoid ending up riddled with loopholes for new types of players to exploit.
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