The European Central Bank (ECB) is seeking feedback on proposed changes to its supervisory fees and levies on covered banks and the timing of their collection.
Reporting and Governance
Hong Kong regulators sound warnings over complex financial structures
Following an inspection of a mainland China-based banking group, Hong Kong’s regulators are asking financial institutions to “urgently” take steps to address risks that could result from complex and opaque structures.
Moves to limit retail investor information on CAT welcomed by congressmen
Moves by the Securities and Exchange Commission (SEC) to limit the amount of information it collects on individual investors has been welcomed by some members of the House Financial Services Committee following a series of big data breaches.
FINRA sets up fintech office
A new unit has been set up by the Financial Industry Regulatory Authority (FINRA) to monitor and coordinate new uses of financial innovation with its member firms.
CFTC proposes improvements to swap data reporting requirements
The Commodity Futures Trading Commission (CFTC) proposes updating rules around swap data repository and data reporting requirements to make them more effective and technology compatible.
SEC gives broker-dealers more time to comply with extra disclosure requirements
Broker-dealers are being given extra time by the Securities and Exchange Commission (SEC) until October 1, to comply with additional disclosure rules around the handling of customer orders.
CFTC proposes slew of changes to derivatives clearing rules
The Commodity Futures Trading Commission (CFTC) has proposed a number of changes to derivatives clearing rules. The proposals, which are out for consultation, are designed to address management and reporting obligations, to clarify certain provisions, simplify processes for registration and reporting and codify existing staff relief and guidance, the CFTC said in a statement.
FCA shift in focus on culture regulation creating unintended consequences
Culture in financial services became a key regulatory and political issue following the financial crisis with regulators exploring new approaches around interpreting conduct, but this could create some unintended consequences. By Polly James, Adam Jamieson and Daren Kemp at Bryan Cave Leighton Paisner
Industry calls for tweaks to EU market abuse regulation
The EU’s market abuse regulation is over two years old and many in the industry believe it is high time that it is reviewed given it has a number of wrinkles that not only make compliance difficult, but risks seeing firms potentially miss some market abuses
Governance: marking your own homework
It is easy to become complacent about governance, and the closer you are to decision-making the harder it is to see how the process really works. A systematic review, which looks at culture as well as controls, is a wise precaution.
@RiskRegulator
