South Africa is catching up with its post-financial crisis obligations with a series of reforms that have been in the works for years as it learns from the experience of other jurisdictions.

The EU’s updated Capital Requirements Regulation is going live at the end of June, imposing stricter standards on banks and asset managers. Experts warn financial services firms of tough penalties for non-compliance. 

Banks around the world are being called on by the BCBS to beef up their operational resilience in light of the pandemic and other disruptive threats and work is already afoot. 

The meltdown of Greensill Capital and Archegos Capital Management is putting pressure on financial regulators to widen their scope and pay closer attention to banks like Credit Suisse cosying up to shadow banks for business. 

A European Union proposal for a green asset ratio for banks is being touted as a wake-up call for the industry, but bankers question its feasibility and the risk of unfair reputational damage.

The EU’s much-criticised bank failure rules are up for re-evaluation. Experts insist the rules are currently unworkable and change is overdue, especially as Europe is poorly prepared for a Covid-19-related banking crisis.

Letting go of “the world’s most important number” – Libor – is proving harder than regulators had hoped, and new draft laws designed to settle “tough legacy” contracts are no panacea. 

The SEC is scrambling to beef up its regulatory prowess after criticisms of its oversight of trading platforms like Robinhood during the GameStop saga. 

French and Dutch securities regulators are pushing for tougher standards for environmental, social and governance data in the fight against greenwashing, but critics fear burdensome reporting will stifle innovation in the race against climate change.

ISDA is pushing financial regulators to scrutinise margin models at clearing houses after Covid-induced market volatility last spring sent initial margins through the roof, while CCPs sound a note of caution.