Topic: Banking regulators

ECB lowers capital requirements bar for eurozone bank mergers

Clifford Chance’s local partner is advising Saudi Arabia’s biggest bank in a merger predicted to spur others in the region – as the European Central Bank announces plans to lower the bar for EU bank mergers.

03 July 2020

BIS innovation hub extends reach with four new centres

The Bank for International Settlements has announced the launch of four new innovation hub centres across Europe and North America, as it intensifies its research into fintech for central banks.

01 July 2020

EBA proposes early intervention distinctions after lack of usage

The European Banking Authority has put forward proposals to clarify when regulators should use early intervention measures, after finding that half of all competent authorities surveyed have not applied them when required.

29 June 2020

Chinese bank fined in Hong Kong over AML violations

Hong Kong’s Securities and Futures Commission has fined the local branch of Chinese investment bank Guotai Junan Securities for its handling of third party fund transfers, anti-money laundering breaches and wash trades.

26 June 2020

BaFin “rocked asleep” by Wirecard hype

German regulator BaFin is facing questions over its supervision of fintech company Wirecard, which announced on Monday that €1.9 billion had vanished from its balance sheet.

24 June 2020

Federal Reserve adds coronavirus scenarios to stress tests

The US Federal Reserve will include a coronavirus-specific sensitivity analysis in its annual stress test, in what will determine whether banks can sanction shareholder pay-outs and share buybacks.

22 June 2020

Hong Kong regulator raps CICC for disclosure failings

Hong Kong’s securities watchdog has criticised Chinese investment bank CICC for failing to disclose information related to two transactions, with the bank introducing new compliance and reporting measures in response.

19 June 2020

Australia’s ASIC outlines product intervention powers

The Australian Securities and Investments Commission will be able to penalise financial products “likely to result in significant consumer detriment” with outright bans, promotional restrictions, and with restrictions to certain classes of consumer, under newly-released guidelines.

17 June 2020

Swedish regulator ups interest risk sensitivity in new Pillar 2 proposal

Sweden’s banking regulator is proposing a new method for assessing capital contributions within Pillar 2 for interest rate risks outside the trading book.

17 June 2020

ASIC cracks whip on SocGen securities unit after client money failures

Australia’s financial regulator has imposed new conditions on the licence of Société Générale’s local securities unit to ensure the it complies with client money regulations, a year after restarting its operations in the country.

15 June 2020

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