News

Nonbank charter showdown averted

A court fight over the Office of the Comptroller of the Currency’s nonbank charter programme will have to wait, after the fintech at the heart of a challenge by the Conference of State Bank Supervisors amended its application.

19 January 2022

EU’s top court throws out Banco Popular bondholders appeal

The European Court of Justice has dismissed appeals from two former Banco Popular bondholders, who queried the EU resolution authority’s decision not to order a final independent valuation of the Spanish lender before its resolution in 2017.

19 January 2022

Raskin leads new Fed nominations

US president Joe Biden has nominated former Federal Reserve governor Sarah Bloom Raskin, an advocate of an interventionist approach to climate risk, as the central bank’s new vice chair for banking regulation, along with nominees to the two vacant seats on its board.

17 January 2022

EU banking watchdog updates resolution framework

Europe’s banking regulator has published guidelines seeking to “ensure consistent progress” on resolvability across the bloc.

17 January 2022

Hong Kong regulator mulls tighter rules for stablecoins

The Hong Kong Monetary Authority has joined the chorus of global regulators and central banks proposing to regulate stablecoin issuers like banks, a movement analysts have called an “extremely high bar” for the assets to meet.

14 January 2022

SEC revives decade-old market manipulation proposal

The US Securities and Exchange Commission has revived a proposed rule to stamp out fraud and manipulation in the security-based swaps market, over a decade after abandoning it in the face of industry pushback.

14 January 2022

SEC takes aim at Archegos-style risks

The US’ securities regulator has proposed new rules to increase transparency in the security-based swap market, but one commissioner has warned the rules are “disproportionate” and may “squelch legitimate market activity”.

12 January 2022

Individual accountability and the SMCR: a portent of success for the FCA's new Consumer Duty?

Similarities between the FCA’s introduction of the Senior Managers and Certification Regime, and current proposals for a consumer duty, may be a harbinger of success for the latter, writes Jenny Stainsby, the head of Herbert Smith Freehills’ global financial services regulatory practice.

12 January 2022

Natwest names Linklaters alum as GC

Linklaters’ former firmwide managing partner Gideon Moore has joined Natwest as its general counsel.

12 January 2022

Israel licenses first new bank in four decades

Israel’s banking sector has welcomed a new entrant for the first time in over 40 years, with digital bank One Zero winning a full licence from the country’s central bank.

10 January 2022

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