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After several false starts, the European Commission has decided to review the EU’s third-country benchmarks regulation, admitting that its regime for EU banks’ use of non-EU benchmarks is “over-restrictive” and hampers their international competitiveness.

07 March 2023

A year after the Skeoch Review called for the UK to align its ring-fencing and bank resolution regimes, the UK government has fired the starting gun on the process to do so with a plan which would take some firms out of its scope.

06 March 2023

PA Consulting partner Chris Spedding explains how the UK’s corporate and commercial banking sector will need to adjust to unprecedented state intervention.

03 March 2023

Canada’s Toronto Dominion and Memphis-based First Horizon have admitted their year-old merger plan – which would create the sixth-largest bank in the United States – is set to be delayed even further as they await approval from both US and Canadian regulators.

03 March 2023

Canada’s financial institutions will be expected to cultivate a “desired culture” within their organisations under newly proposed guidance from the country’s banking regulator aimed at managing “misaligned” behaviour.

02 March 2023

The UK’s Financial Conduct Authority has criticised how investment firms have implemented its year-old prudential regime – complaining about a lack of adequate assessments for individual firms within investment groups, and a failure to adequately use risk information to keep the regulator informed about their risk appetites.

02 March 2023

The Financial Stability Board has hinted at future initiatives that could ease regulatory barriers for non-bank payment service providers, as it sets out the key priorities in its roadmap for easier cross-border payments.

01 March 2023

Credit Suisse will have hundreds of its most important business relationships regularly reviewed as part of remedial measures imposed by Switzerland’s financial markets regulator, after a two-year probe into the bank’s relationship with supply chain finance company Greensill which found the  had “seriously breached its supervisory obligations”.

01 March 2023

The UK’s principal financial regulator and central bank have settled on final requirements to harmonise the quality of data under the derivative reporting framework under the UK version of EMIR, in pursuit of parity with IOSCO’s standards.

28 February 2023

Willkie Farr & Gallagher partner James Burns and counsel Brant Brown, veterans of the SEC and FINRA respectively, have both joined the partnership at Cleary Gottlieb Steen & Hamilton in Washington, DC.

28 February 2023