EuropeRSS

CFTC's Giancarlo could be in running to head Bank of England

In a surprise development, J Christopher Giancarlo chair of the the US Commodity Futures Trading Commission (CFTC) might be in the running to take over at the Bank of England. 

Cyber incidents at UK banks soared last year

Data obtained by the consultancy RSM under a freedom of information request shows that the UK’s Financial Conduct Authority (FCA) received reports of 819 cyber incidents in 2018, a surge from the 69 reported in 2017. 

ESMA launches formal investigation into tax withholding schemes

At the request of the European parliament, pan-EU regulators have looked into withholding tax reclaim schemes, often involving company dividends, and found that activity around these reclaims might be affecting the integrity of European securities markets and individual firms.

Christine Lagarde nominated as ECB president

Former French finance minister and head of the IMF has been nominated by the European Council to replace Mario Draghi as president of the European Central Bank.

Stock exchange equivalence ceases between EU and Switzerland

On July 1, equivalence measures between the EU and Switzerland allowing investment firms from the two jurisdictions to freely trade shares on each others’ exchanges ceased.

Geoff Hutton

Second phase of SFTR could trip up some firms

Some market participants appear to be overconfident in their ability to meet their SFTR obligations. They could be in for a shock as the new rules continue to be phased in. By Justin Pugsley.

William Yonge

Market participants lobbying over short Emir 2.1 timelines

Emir 2.1 contained some important changes requiring firms to make adjustments. However, the short timeline for implementing these changes has left many market participants unhappy 

David Clark

Brexit and economic realities keep CMU dream alive

The capital markets union could provide a significant boost to the EU’s economy, but still faces a host of national hurdles, not least the lack of a clear road map, before becoming a reality

Katerina Katsiami

EU moves towards its own crypto-asset regime

Reports from Esma and the EBA suggest that the EU is moving closer to creating its own regime for regulating crypto-assets potentially forcing member states, which take an early lead in this area, to revise their own crypto rules 

Kelvin Dickenson

Firms turning to automation to keep pace with anti-money laundering rules

Firms turn to automation to comply with tough anti money laundering rules as fines for infringements continue to pile up