News

South Africa banking reforms need refinement, FSB says

South Africa’s reforms of bank resolution and deposit insurance show the country is making headway, but it must add further details to ensure successful implementation, the Financial Stability Board has said.

20 March 2020

OCC hires COO

The US Office of the Comptroller of the Currency has hired its new chief operating officer from crypto exchange Coinbase.

19 March 2020

Global regulators announce coronavirus measures

Regulators across the world are easing capital restrictions in response to the COVID-19 pandemic – with the Bank of England warning UK banks not to use freed-up cash for bumping up bonuses and dividends.

13 March 2020

Australia’s ASIC introduces new licensing regime for foreign banks

The Australian Securities and Investments Commission (ASIC) will introduce a new licensing regime for foreign financial services providers as part of a new regulatory framework, despite opposition from stakeholders.

13 March 2020

Two Birds hires co-head from Italy’s Consob

Giuseppe D’Agostino, former deputy general manager at the Italian Financial Services Authority (Consob), has joined Bird & Bird as co-head of its financial regulation practice.

13 March 2020

Profitability after the crisis - should Europe loosen the screws?

With the ‘post-crisis’ phase of banking regulation now in the rear-view mirror, banks in Europe are seeing tighter profit margins than their US counterparts – but is that a reason to go slow on the EU’s implementation of Basel III? EU regulators and bank in-housers met in Brussels at an International Swaps & Derivatives Association (ISDA) event to discuss.

06 March 2020

US regulators issue notice of Volcker rule overhaul

The five US financial regulatory agencies responsible for the administration of the Volcker Rule have issued a notice of proposed rulemaking, as they move closer to altering restrictions on private fund investments by banks.

06 March 2020

Convicted ex-Barclays trader must pay nearly £1 million

A UK judge has ordered a former Barclays trader to pay £907,000 following his conviction for manipulating the Euribor benchmark.

06 March 2020

Tulips and tokens: regulators’ growing attention to prudential regulation of crypto-assets

In 2017, when Bitcoin peaked at nearly US$20,000, JP Morgan Chase Bank CEO Jamie Dimon compared crypto to the Dutch ‘tulipmania’ of the 1630s: a speculative bubble in tulip futures that saw bulbs priced higher than real estate.

07 February 2020

FCA appoints interim head

The UK’s Financial Conduct Authority has named a new interim chief executive following Andrew Bailey’s departure to become governor of the Bank of England.

31 January 2020

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