News

Community round-up: New central bank chief in Ukraine; board changes at BoE and DFSA; Schellenberg Wittmer hire academic

Ukraine’s central bank has appointed a new governor after its previous head resigned over “systematic political pressure”; regulators in the UK and Dubai have announced board changes; and Swiss firm Schellenberg Wittmer has hired an of counsel in Geneva.

20 July 2020

“You don’t need to wait”: Regulators urge banks to get out in front on climate transition

Hong Kong regulators are being urged to produce a roadmap for their sustainable finance measures – as the Bank of England urges banks not to wait for climate disclosure to be made mandatory before submitting regular reports.

16 July 2020

Regulatory round-up – AML/CFT outsourcing in Singapore; naming and shaming in China; buffers in Jamaica

Singapore’s capital markets intermediaries have come under fire for their outsourcing practices for anti-money laundering/counter-financing (AML/CFT) obligations; a Chinese regulator has published a list of misbehaving bank shareholders; and Jamaica is considering introducing a counter-cyclical capital buffer.

16 July 2020

CPMI urges regulatory synchronisation for cross-border payments

A G20 report says the benefits to cross-border payments from technological advances will be limited if states don’t coordinate their regulatory frameworks as well.

14 July 2020

Community roundup: EBA head confirmed, Liechtensteiner and Russian regulators moving on

François-Louis Michaud has been approved as the European Banking Authority’s new executive director in spite of a parliamentary committee’s objections; a Liechtenstein-based bank has hired the country’s top banking regulatory official; and a senior Russian regulator is joining the Bank for International Settlements.

14 July 2020

G20 report warns over Libor transition preparedness

A G20 survey of regulators’ plans for Libor transition has found half of respondents from non-Financial Stability Board member jurisdictions have no strategy for the transition – as the Bank for International Settlements and FSB urge regulators worldwide to cooperate ahead of the benchmark’s phasing-out.

10 July 2020

Malta mulls regulatory shakeup as ECB revokes another banking licence

Malta is considering giving its prudential and conduct regulator new supervisory and investigative anti-money laundering powers, as the ECB terminates a local bank’s licence over AML failings.

10 July 2020

Deutsche fined US$150 million over Epstein ties

New York’s state financial regulator has fined Deutsche Bank over its relationship with the late Jeffrey Epstein – the first regulatory action against a financial institution over its connections to the disgraced financier and sex offender – and to two controversial foreign banks.

08 July 2020

Cypriot regulator fines Commerzbank for historic market manipulation

The Cypriot securities regulator has fined Germany’s Commerzbank €650,000 after finding it helped inflate the share price of a defunct local bank, in what is thought to be the largest case of market manipulation ever investigated on the island.

08 July 2020

Wirecard saga exposes cracks in German financial regulation

German payment company Wirecard’s €2 billion accounting scandal illuminates some of the country’s supervisory shortcomings, but criticism of the financial regulator could be misplaced, practitioners say.

08 July 2020

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