Focus Insight

Financial Misconduct, the FCA and Coronavirus

In view of the potential new financial risks posed by the Corona Virus pandemic, Cameron Brown QC and Sam Smart from Red Lion Chambers review the work…

27 May 2020

A glimpse at South Africa’s future “equivalence” for foreign financial market infrastructures and participants

South Africa's financial regulators have taken a step towards further integrating with offshore financial markets. Currently, most foreign financial…

26 May 2020

UK government publishes draft UK-EU Free Trade Agreement with financial services chapter

The government sets out a bold and ambitious arrangement for financial services, including free market access and a new Financial Services Committee…

21 May 2020

COVID-19: Crisis management lessons from the financial services industry

Justine Sacarello, head of legal risk management at Lloyds Banking Group, considers why crisis management is most effective in a company that balances a trusting culture against flexible business models.

18 May 2020

Turkey: Manipulation and misleading transactions in financial markets have been regulated

The Regulation on Manipulation and Misleading Transactions in Financial Markets ("Regulation") issued by the Banking Regulation and Supervision Agency…

15 May 2020

SWITZERLAND: Temporary exemptions for banks during COVID-19 crisis

The Swiss Financial Markets Supervisory Authority (FINMA) recently provided banks with clarifications on dealing with COVID-19 credits with federal guarantees within the framework of the capital and liquidity requirements and temporary exemptions relating to the leverage ratio. FINMA will likely further specify these guidelines or issue additional rules depending on the development of the current crisis.

15 May 2020

Coming Up: A National Non-Depository Payments Charter?

Brian Brooks, Chief Operating Officer of the Office of the Comptroller of the Currency (“OCC”) said on Monday that he believes the OCC should…

15 May 2020

ARRC announces 2020 objectives for facilitating USD LIBOR transition

The Alternative Reference Rates Committee (ARRC) recently unveiled its 2020 objectives for facilitating the industry's transition away from the US…

13 May 2020

Switzerland: Applicability of clausula rebus sic stantibus to banks' refusal to release gold in kind

The Federal Supreme Court recently decided the fate of a contract between a bank client and his Swiss banks, which had refused to release gold from…

12 May 2020

OJK relaxes single presence policy in banking sector but tightens minimum capital requirements

The Indonesian Financial Services Authority recently issued a regulation which relaxes bank ownership rules under the its single presence policy but simultaneously increases minimum capital requirements. The regulation was conceived prior to the COVID-19 crisis and the issuance of emergency economic legislation. Consequently, the big question is whether the regulation will continue to be relevant, given the perfect storm facing the national economy and the Indonesian financial services industry.

08 May 2020

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