News

PRA breaks from EBA approach to software assets

The UK’s Prudential Regulation Authority has proposed requiring all intangible assets to be fully deducted from CET1 capital under newly-proposed capital requirements – its first significant divergence from its EU counterparts since Brexit.

16 February 2021

ECB “nervous” over banks using capital buffers, conference told

The Single Supervisory Mechanism is not ready for EU banks to use their capital buffers, and needs to provide clarity on when they can dip into them, a key figure at a major European bank has told the European Banking Institute’s annual banking regulation conference.

16 February 2021

Market “woefully unprepared” for SFDR with one month to go

EU regulators have published the final details for the Sustainable Finance Disclosure Regulation set to take effect next month, even as one practitioner says the market is “woefully unprepared” for its effects.

12 February 2021

Luxembourg ushers in blockchain era for securities

New legislation passed in Luxembourg will allow the use of distributed ledger technology for issuing and settling dematerialised securities.

12 February 2021

Darrois Villey advising as BPCE seeks Natixis squeeze-out

French bank BPCE has filed with French regulators to take total control of its investment banking subsidiary Natixis.

10 February 2021

Hong Kong proposes to stamp out “undesirable” capital markets conduct

Hong Kong’s securities regulator has proposed a detailed code of conduct for capital markets transactions in an effort to stamp out “undesirable” behaviour from intermediaries.

10 February 2021

India prepares “private” cryptocurrency ban

India’s parliament is considering a proposal that would prohibit “private” cryptocurrencies, despite industry participants complaining there has been “no clear communication” on what falls under the definition.

09 February 2021

ESMA should regulate crypto, AMF chair says

The chair of France’s principal financial regulator has called on the European Securities and Markets Authority to take charge of the regulation of crypto-assets under forthcoming EU legislation regulating the sector.

09 February 2021

FCA to reach beyond remit in “holistic” authorisation process for non-UK firms

The UK’s Financial Conduct Authority has told foreign financial institutions it will monitor all their activities, including those that fall outside its remit and non-UK-based business, before granting them a licence to operate in the country.

04 February 2021

Baker McKenzie advising on Swiss Libor switch documentation

The working group preparing for the discontinuation of Swiss franc Libor has published its standardised amendment agreement for the switch, drafted by a team from Baker McKenzie’s Zurich office.

04 February 2021

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