Topic: International cooperation

A crack of light into the FCA’s cum-ex approach

Corker Binning partners David Corker and Claire Cross discuss a busy year in relation to the fallout from the cum-ex trading scandal, as a new case sheds light onto the Financial Conduct Authority's "leisurely" approach to commencing regulatory hostilities.

15 March 2021

FATF seeks tougher checks on WMD proliferation financing

The Financial Action Task Force has proposed tightening banks’ risk indicators for financing the proliferation of weapons of mass destruction, a week after it announced Pakistan would remain on its “greylist” for persistent terrorist financing issues.

08 March 2021

EBA sets out supervisory cooperation plans

The European Banking Authority is consulting on new proposals for the cross-border regulation of investment banks, including the functioning of colleges of supervisors and rules for information exchange between regulators.

25 February 2021

FSB warns of rising over-reliance on outsourcing

The Financial Stability Board has warned that over-reliance by banks on third party service providers poses a threat to financial stability, as one firm predicts a “major compliance exercise” to come.

19 November 2020

Goldman Sachs to address risk management after US$2.9 billion 1MDB settlement

Goldman Sachs has been ordered to improve its risk management and oversight procedures after settling with 10 regulators in five jurisdictions over an alleged multibillion-dollar bribery and embezzlement scheme with respect to Malaysian fund 1MDB.

29 October 2020

First, do no harm: central banks agree CBDC principles

Central banks representing all of the G7 economies have published an outline of basic principles for developing digital versions of their currencies – emphasising a safety-first approach but also outlining the range of choices each would have to make should it pursue the project.

12 October 2020

UBS launches Brazilian investment bank despite union reproach

Pinheiro Neto and Lefosse are advising UBS and Banco do Brasil as they launch a Brazilian joint venture – an expansion that has drawn criticism from Brazilian banking union heads.

08 October 2020

Basel urges improved disaster planning

The Basel Committee is proposing to update its operational risk framework with new change management and technology principles, urging banks to step up their disaster planning in the wake of the disruption wrought by the covid-19 pandemic.

10 August 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

Lack of uniformity hinders sustainability initiatives, IOSCO says

Efforts to create environmentally sustainable investment products are being hampered by greenwashing and a multiplicity of informal reporting frameworks, securities regulatory association IOSCO has said in a new report.

15 April 2020

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