News

FinCEN issues ANPR for beneficial ownership reporting, as director departs

The US Treasury’s Financial Crimes Enforcement Network has released an advance notice of proposed rulemaking for its “vast” new beneficial ownership reporting requirements, as its director Kenneth Blanco announces his departure to head Citi’s new financial crimes unit.

06 April 2021

ECB guidelines “facilitating” Spanish bank M&A as Unicaja and Liberbank merge

Portugal’s Novo Banco has divested its Spain-based businesses, while Spanish lenders Unicaja and Liberbank have won shareholder approval for their merger.

06 April 2021

UK banks given operational resilience deadline

The UK’s financial regulators have announced new operational resilience measures, giving banks one year to implement their plans.

01 April 2021

Shariah standard-setter warns of Ibor transition risks

The International Islamic Financial Market has detailed how the global transition away from interbank offered rates (Ibors) to risk-free rates could lead to some contracts falling out of shariah compliance.

01 April 2021

The FCA’s NatWest probe: has the regulator bitten off more than it can chew?

Thomas Cattee, white-collar crime specialist at Gherson in London, examines the Financial Conduct Authority’s recently-launched criminal proceedings against NatWest – the first case it has brought against a bank under the Money Laundering Regulations 2007.

01 April 2021

UK and EU prepare for “managed divergence” in financial services deal

The UK and European Union have put in place a new post-Brexit financial services pact to enhance cooperation on regulation in the sector, a move that could bring about a “managed divergence” of EU and UK regulation.

30 March 2021

Euroyen Tibor administrator proposes 2024 end-date

The administrator of Japanese benchmark Tibor has proposed halting publication of the benchmark for offshore yen deposits in 2024, while UK regulators have instructed local firms to stop including Libor in new derivatives contracts.

30 March 2021

Santander targets total ownership of Mexican unit, with Cleary advising

Spain’s Banco Santander is launching a bid to reacquire the remaining stake in the Mexican unit it sold almost a decade ago.

29 March 2021

Former Japan FSA commissioner joins crypto exchange

Japan’s former top financial regulatory official is set to advise cryptocurrency exchange DeCurret after departing Japan’s Financial Services Agency last year.

29 March 2021

UK outlines mandatory climate disclosure plans

The United Kingdom has announced its plans for mandatory climate-related disclosures under TCFD guidelines.

25 March 2021

Get unlimited access to all Global Banking Regulation Review content