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European Central Bank

Latest EU stress tests reveal some concerns

The EU’s bank stress tests have become a familiar part of Europe’s supervisory processes. However, the latest exercise has raised concern over the state of some banks as well some criticism over how it is conducted

Daniel Carpenter

Banks ignoring tax issues due to regulatory compliance preoccupations

Banks have not been paying enough attention to tax issues, particularly with speculation over the launch of an EU-wide financial transaction tax (FTT), due to focusing so many resources on keeping up with a flood of new regulations. This could lead to problems.

Firms bracing for expansion of SM&CR

The UK’s SM&CR is to be rolled out to the wider financial sector creating a new wave of compliance challenges for firms that are impacted

Third country access to EU financial markets contingent on equivalent rules

Financial firms based in third countries will face much greater scrutiny when selling services into the EU, following a deal struck between the European Commission, EU governments and the European parliament.

Pavan Bagai

Lessons for 2019: creating a robust risk management framework

Banks still face a mountain of regulatory initiatives to implement, but at least the last decade has given them much experience and provided plenty of lessons on best practice

US and UK move to safeguard derivatives markets post-Brexit

US and UK authorities have agreed measures to ensure the smooth functioning of derivatives markets and to safeguard against any potential Brexit-related disruptions and to remove uncertainty.

Basel Committee discusses margins, benchmarks, crypto-assets and work programme

The Basel Committee discussed margin requirements for non-centrally cleared derivatives, interest rate benchmarks, crypto-assets, the net stable funding ratio and Basel III implementation by members at its meeting on February 27-28.

Hani Nabeel

Banks still trying to perfect ways to improve employee behaviour

Some 10 years after the global financial crisis, banks are still struggling to find the most effective measures to improve their corporate cultures to avoid misconduct

Whistleblower complaints to FCA rocketed 24% in 2018

Complaints by whistleblowers to the UK’s Financial Conduct Authority (FCA) soared by 24% in 2019, covering a range of issues from customer protection through to market manipulation and data security.

Strong case for external auditors to check RWA, says BCBS’s Coen

Auditors should check banks’ calculations of their risk weighted assets (RWAs) to reduce the chance of inaccuracies said Bill Coen, the secretary general of the Basel Committee on Banking Supervision (BCBS).