06/10/2024
Will the US follow Europe’s lead on interest rate cuts?
Even though the decision was expected, European equities fell slightly, government bond prices rose (yields fell), and the euro appreciated right after the announcement.
Legal, Regulation & Compliance
06/10/2024
City row erupts against proxy advisers over executive pay
However, proxy advisers, which recommend how shareholders vote at company meetings, have often been criticised for blocking the hiking of executive pay.
06/06/2024
Swiss finmin flags legal risks to winding up global banks
The big banks are heavily invested there.
06/06/2024
New Cost Benefit Analysis Panel to be chaired by Dr Felix Martin
The FCA estimates around a third of its CBA will be subject to the Panel’s review.
06/06/2024
Morning markets - ECB eyes rate cut as central banks signal shift amidst inflation dynamics
This reflects an acceleration in new orders, in sharp contrast to the apparent weakness reflected in the Manufacturing survey
06/06/2024
PS10/24 – Review of Solvency II: Reform of the Matching Adjustment
Policy statement 10/24
06/05/2024
What lenders need to know about financing Irish regulated funds
In fund finance transactions involving Irish funds, it is important to consider aspects such as segregated liability and the role of the depositary.
06/04/2024
The EBA and ESMA invite comments on the review of the investment firms prudential framework
To assess the impact of the possible changes discussed in the paper, the EBA also launched a data collection exercise on a voluntary basis.
06/03/2024
Final MiCA rules on conflict of interest of crypto assets providers published
In the report ESMA sets out draft Regulatory Technical Standards on certain requirements in relation to conflicts of interest for crypto-asset service providers (CASPs) under MiCA
05/31/2024
EU may help banks more with loan losses due to pandemic
Regulators in the EU have offered flexibility on how a loan loss accounting rule known as IFRS 9 is applied but the United States has gone further and offered banks a two-year holiday from its equivalent rule.
05/31/2024
CMA launches probe into Nationwide-Virgin Money deal
The CMA said it is investigating whether the deal could result in a “substantial lessening of competition” in the UK.
05/31/2024
Flagstone gets status change approval from JFSC
The approval from the JFSC recognises Flagstone International as an independent trust company able to provide services under Jersey’s regulatory framework.
05/30/2024
Report reveals how asset managers can implement SDR
The report also urges firms to step up engagement with distributors at the earliest opportunity to ensure they are comfortable with the core sustainability features of each product.
05/30/2024
White & Case advises EIF on synthetic securitisation of Deutsche Bank-originated German consumer loan portfolio
The EIF guarantee on the €150 million mezzanine tranche covers a large reference portfolio of consumer loans.
05/29/2024
FCA 'working to modernise' regulation for asset managers
Alder said responses to the regulator's consultation on replacing asset management regulation, currently contained in retained EU law, indicated a desire to remain broadly aligned with EU rules.
05/29/2024
Woodford should forfeit his CBE, says TTF
They said the Woodford scandal has caused terrible harm to its victims.
05/29/2024
EBAday 2024: 100 banks registered and ready to fuel the payments technology conversation
Connecting with the 100 banks attending EBAday has also never been easier.
05/29/2024
Intelligent Money Ltd enters administration
The joint administrators are qualified insolvency practitioners.
05/29/2024
Global regulatory update Q1 2024
The EBA also issued guidance to crypto-asset service providers on managing their exposure to AML/CFT risks
05/28/2024
Banking fraudster jailed over fake applications for loans and pensions
He uploaded ‘selfie’ pics which, in conjunction with stolen customer personal data seized, enabled him to bypass online verification