News

ASIC cracks whip on SocGen securities unit after client money failures

Australia’s financial regulator has imposed new conditions on the licence of Société Générale’s local securities unit to ensure the it complies with client money regulations, a year after restarting its operations in the country.

15 June 2020

Community round-up: FRC’s former chair joins Carlyle; Shearman hires from Cadwalader in New York

15 June 2020

HSF, White & Case and Baker McKenzie on first bank M&A under new Indonesian rules

Thailand’s Bangkok Bank has completed the US$2.3 billion purchase of a majority stake in Jakarta-based Bank Permata – the first bank M&A deal under new regulations issued by Indonesia’s OJK last year.

12 June 2020

EU defends decision to grant BlackRock banking reg advisory role

The European Commission has told lawmakers it found no conflicts of interest in selecting asset manager BlackRock to advise on incorporating environmental and social factors into European banking regulations.

12 June 2020

EBA urges two-year amortisation period for software assets

The European Banking Authority has proposed a prudential amortisation period of two years for financial institutions’ software assets.

10 June 2020

Credit Suisse ruling could clarify Finma monitorships

Swiss lawyers say an upcoming Supreme Court decision regarding the impartiality of a law firm, hired by regulator Finma to examine Credit Suisse’s spying scandal, will clarify conflict of interest rules in monitorships ordered by the agency.

10 June 2020

Swedish regulator tells banks to step up disaster planning

Sweden’s regulator FI has told banks to improve their continuity management strategy, suggesting they include it as an integral part of their risk strategy.

09 June 2020

No dividend payments until next year, ESRB says

The European Systemic Risk Board is advising regulators to hold off until 2021 before allowing dividend payments, share buy-backs or bonuses.

09 June 2020

Chinese regulator overhauls financial crime rules

China’s banking regulator has announced new guidelines for financial institutions to deal with financial crime, in a move that could see banks held accountable for lax reporting and employee misconduct.

05 June 2020

OCC canvasses fintech rule updates

The US Office of the Comptroller of the Currency has signalled its intention to update its rules on banks’ digital activities, a week after unexpectedly coming under the leadership of a comptroller with a background in the crypto world.

05 June 2020

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