News

ESMA targets social media influencer relationships

EU financial institutions’ collaborations with social media influencers are set to undergo new scrutiny, as ESMA announces plans to examine how they apply MiFID II disclosure rules to their marketing communications.

18 January 2023

UK payments regulation “not working as well as it could”, Treasury admits

The UK government has called for input on plans to “future-proof” its post-Brexit, post-PSD2 payments regime after admitting the current framework has failed to foster open banking as desired.

17 January 2023

Are OCC’s revised fair lending guidelines “fair enough”?

The US Office of the Comptroller of the Currency has updated its fair lending guidelines following a critical GAO report last year – but it’s not clear the revisions will satisfy the critics.

17 January 2023

EBA raises regulatory arbitrage fears in PSD2 review

Eight years on since the enactment of the revised Payment Services Directive, the European Union’s banking regulator has complained of “significant divergence” among national regulators’ interpretation of its local substance requirements.

16 January 2023

New partners for Linklaters in Singapore and WFW in London

Linklaters has hired the head of Ashurst’s Singapore financial regulation practice, while Watson Farley & Williams has hired a Covington & Burling partner in its London office.

16 January 2023

CMS hires ex-PRA enforcement head

King & Spalding partner Robert Dedman, a former head of enforcement at the Prudential Regulation Authority, has joined CMS in London.

13 January 2023

CROs rank cybersecurity risks over climate and financial, IIF-EY survey finds

The IIF and EY’s latest survey of banks’ chief risk officers has seen over half name cybersecurity as their biggest concern for 2023 – but shows a marked drop in concerns over climate and financial risk.

12 January 2023

PRA prioritises operational resilience for 2023

As the UK’s prudential regulator publishes supervisory priorities with an “unprecedented focus” on the banks’ technological side, practitioners tell GBRR that banks might be faced with challenges in keeping up with the scale and pace of change.

12 January 2023

What’s in store for 2023? Part two: climate risk and green finance

The last year saw regulators and international standard-setting bodies busier than ever before with new proposals and rules for the ESG realm. In the second part of our examination of the year to come in banking regulation, GBRR spoke with practitioners from the UK, US, Singapore, and Hong Kong about how climate-related regulation will further evolve in 2023.

11 January 2023

SGX penalises UOB associate firm over internal control blunders

The Singapore Exchange’s regulatory body has banned one of Asia’s largest brokerage firms for internal control failures related to business conduct and anti-money laundering requirements.

11 January 2023

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