Topic: Bank regulation

ECJ upholds EBA product guidelines, overruling advocate-general

The European Court of Justice has ruled that the EU’s top banking regulator did not act beyond its powers by issuing guidelines on banking products, pushing aside an opinion from its advocate-general calling for them to be declared invalid.

19 July 2021

US regulators call on banks to scrutinise third party relationships

The United States’ banking regulators have proposed guidelines for banks to manage risks carried within third-party relationships by giving greater oversight to their “critical activities”, particularly where fintechs are involved.

19 July 2021

ECB embarks on digital euro investigation

The European Central Bank moved further in its digital currency plans, announcing a 24-month-long investigation into the new coinage as experimentation proves current options viable.

15 July 2021

If it walks like a bank…

In the last year, the banking sector has weathered the covid-19 crisis, but the demises of non-banks Archegos, Greensill and Wirecard have raised questions about the distinctions between bank and non-bank regulation. As fintechs continue to innovate, and alternative lenders offer an increasingly wide range of services, do regulators need to widen their perimeter?

14 July 2021

Ashurst advising on Australian digital bank licensing

Australia’s banking regulator has granted its first banking licence since the lifting of a pandemic-era moratorium, as it prepares a coming revamp of its bank licensing framework.

14 July 2021

PRA removes dividend limits

The UK’s Prudential Regulation Authority has removed the “extraordinary guardrails” it imposed on dividend distribution during the pandemic, but has warned banks to exercise an “appropriate degree of caution”.

14 July 2021

Industry groups protest Biden anti-consolidation push

US President Joe Biden has called on regulators to look again at their approval process for bank mergers in a new anti-consolidation executive order.

12 July 2021

Hogan Lovells-IRSG report calls for greater “openness” in UK regulation

UK regulation should display greater “openness” to overseas firms, while its overseas persons exclusion should be “rationalised and simplified”, according to a new report published by Hogan Lovells and the City of London.

12 July 2021

National authorities must cooperate more, say EBA standards

The European Banking Authority has finalised its standards for supervisory colleges to coordinate national regulators’ supervision of investment firms operating within multiple EU member states.

07 July 2021

Investors should pay for MMF redemptions, say FSB proposals

The Financial Stability Board has proposed an overhaul of regulators’ approach to money market funds, calling for investors to pay to redeem funds, after a report into large panicked redemptions at the outset of the covid-19 crisis.

05 July 2021

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