Some 13% of bankers believe it is difficult to progress their careers in a completely ethical manner while a third worry about negative fallout if they raise concerns, according to the second annual report by the Banking Standards Board. By Justin Pugsley.
When the Bank for International Settlements launched its FX code of conduct there were doubts if it would really be effective. Nonetheless, it has been given a big boost by a leading trade association insisting that its members sign up to it.
Thomas Hoenig, the vice chairman of the Federal Deposit Insurance Corporation, is proposing a revival of the Glass-Steagall Act, but with some twists. Justin Pugsley reports.
Moving back the deadline by six months to comply with variation margin rules for uncleared derivatives was greeted with a sigh of relief by market participants. Even so, they still face an uphill struggle to get their documentation in order on time.
The Basel Committee on Banking Supervision is finding deficiencies with large global banks when it comes to data aggregation and reporting
Regulators likely to take a deeper interest in regulatory technology as it takes on more critical tasks and deepens its role within banks
The UK’s open banking initiative is set to revolutionise the market for financial services while creating competitive pressures for banks. Nonetheless, it isn’t all bad news for banks as open banking also offers potential new opportunities for the industry, writes Mark Doherty, vice president for product at Monitise.
CFTC gives swaps dealers another six-months to be compliant with over-the-counter derivatives variation margin rules.
US and European regulators take very different approaches to handling issues as diverse as whistle-blowing and data protection, making cross-border investigations into financial crime a challenge.
Supervisors have acted to preserve orderly OTC non-cleared derivatives markets by granting variation margin reprieve for smaller financial firms. By Justin Pugsley.