News

SEC tries again on ABS conflicts

Over a decade after its initial attempt, the US Securities and Exchange commission has attempted to come through on its Dodd-Frank mandate to prevent conflicts of interest in the asset-backed securities market, but prompted questions over the breadth of their scope.

31 January 2023

“Complex and costly” regulation holds back EU growth, industry body says

A review of the current capital requirements and supervisory processes could provide capacity for approximately €4 trillion in additional bank lending, a study conducted by banking lobby group the European Banking Federation suggests. The European Central Bank disagrees.

31 January 2023

EU: ECON passes Basel implementation package with consolidated output floor

A key EU parliamentary committee has accepted adaptations to the final Basel III implementation, and opened the door for a potential future dedicated prudential framework that could include a “one-for-one” capital treatment for crypto and fossil fuel financing.

30 January 2023

ISDA launches standard definitions for crypto derivatives

The international derivatives industry body has rolled out a set of common documentations for crypto derivatives, as it seeks to address legal issues arising from the “Crypto Winter”, with Linklaters advising.

30 January 2023

Fed promises “level playing field” for crypto activities as it rejects Custodia bid

The Federal Reserve has issued a new promise of a “level playing field” for banks without deposit insurance when it comes to crypto and other novel banking activities – the same day it rejected a Wyoming-chartered special purpose depository institution’s two-year-old application to join its master account system.

27 January 2023

FSB’s Knot says NBFIs, crypto, and climate key risks for next crisis

The chair of the Financial Stability Board has identified the rise of non-bank financial intermediaries, the digitalisation of finance, and climate change, as the top three structural shifts most likely to give rise to the next financial crisis.

27 January 2023

New York regulator warns crypto firms over customer asset segregation

Following multiple crypto failures raising questions over the segregation of customer and corporate assets, New York’s financial regulator has warned its “BitLicensees” to avoid creating debtor-creditor relationships with their customers.

26 January 2023

The outlook for bank M&A in 2023

Norton Rose Fulbright partners Alan Bainbridge and Albert Weatherill argue that, even if 2023 won’t see the next big round of bank M&As, practitioners should expect a busy year nonetheless.

26 January 2023

Overconfident and underprepared: implementation fears as Consumer Duty deadline approaches

“It is possible the FCA has underestimated quite how much work is required”: with only six months to go until the first of the implementation dates for its new Consumer Duty, the UK's Financial Conduct Authority has raised the alarm over some firms’ lack of preparedness.

25 January 2023

Greenberg Traurig hires from BNY Mellon

The chief compliance officer of BNY Mellon’s Toronto branch has joined Greenberg Traurig’s financial regulatory and compliance practice in New York.

25 January 2023

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