From cliff-edge to glide path: BoE MREL proposals smooth way for challenger banks

The Bank of England has proposed to ease growing lenders into the process of raising “bail-in” capital by introducing a “stepped glide path” for their MREL obligations.

FRC critiques “unacceptable” KPMG bank audits

The Financial Reporting Council’s annual review of the UK’s audit sector has highlighted “specific concerns” over the quality of KPMG’s bank audits for the third year running.

Supreme Court petitioned to block SEC “power grab”

The Securities and Exchange Commission overstepped its statutory authority when it enforced anti-money laundering regulations in the Bank Secrecy Act, according to a petition before the US Supreme Court.

From Lexology
Singapore: MAS consults on expansion of investigation and other powers and alignment of regulations

The Monetary Authority of Singapore (MAS) recently released a consultation ("Consultation") on its "Proposed Amendments to MAS' Investigative…

Hong Kong proposes climate risk management guidelines for banks

On 20 July 2021, the Hong Kong Monetary Authority (HKMA) issued draft guidelines (the Draft Guidelines) on the management of climate-related risks by…

A balancing act - removing barriers to listing whilst maintaining reputation: The FCA's primary markets effectiveness review

Hot on the heels of HM Treasury's consultation on the Prospectus regime, on 5 July the FCA published a consultation on the effectiveness of the…

FinCEN issues major Anti-Money Laundering Act announcements and appoints new chief digital currency advisor

Agency Issues First National Priorities for Anti-Money Laundering and Counter-Terrorist Financing, Completes Assessment on Potential No-Action Letter…

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