News

Has the FCA made individual responsibility in banking a reality?

Statistics recently obtained by Herbert Smith Freehills call into question whether the Senior Managers Regime has been effective in allowing UK regulators to pursue enforcement against senior individuals in financial services, writes Jenny Stainsby, the global head of the firm’s financial services regulatory practice.

06 July 2022

Swiss Libor manipulation suit settles

A long-standing class action against Deutsche Bank and NatWest over allegations of a conspiracy to fix Swiss franc Libor is set to conclude, as a New York federal court approves a settlement in a class action lawsuit revolving around LIBOR manipulation scandals.

06 July 2022

China offers conduit to yuan-backed swap derivatives for overseas investors

Central banks and regulators in China and Hong Kong have agreed to provide offshore access to Chinese interest rate swap derivatives, making another move to internationalise the Chinese yuan.

06 July 2022

EU agrees MiCA framework

The EU’s legislative bodies have reached agreement on the bloc’s regulatory framework for markets in crypto assets, placing stablecoins under EBA supervision and requiring their issuers to be EU-domiciled.

04 July 2022

EBA finalises data collection plans for remuneration and gender pay gap information

The EBA has announced its finalised guidelines for the collection of gender-focused remuneration and salary data, set to come into force next year.

04 July 2022

The EU’s newest regulator is partially set up – but no location yet

A new agreement on the much-anticipated Anti-Money Laundering Authority says that the body will supervise crypto asset service providers, though it holds back on which city will play host.

30 June 2022

Swiss and Japanese banking associations issue sustainability guides

Switzerland’s banking industry association has issued binding self-regulations for integrating sustainability concerns into their investment and mortgage advisory work, while its Japanese counterpart has adopted only non-binding measures.

30 June 2022

Heads Up: with Satish Kini at Debevoise & Plimpton

“What’s the lore, as opposed to the law?” The chair of Debevoise’s banking group Satish Kini speaks to GBRR about sanctions, credibility with regulators, and how innovation is levelling the playing field of experience.

29 June 2022

Credit Suisse fined in Swiss money laundering case

A Swiss court has fined Credit Suisse over deficiencies in its anti-money laundering controls dating back to 2007.

29 June 2022

US regulators trailing peers on climate risk, says Ceres

The United States’ financial regulators have made “significant progress” to address the systemic impacts of climate risk, but still “lag far behind” their foreign counterparts, according to a recent report by a financial services-focused sustainability group.

29 June 2022

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