News

A crack of light into the FCA’s cum-ex approach

Corker Binning partners David Corker and Claire Cross discuss a busy year in relation to the fallout from the cum-ex trading scandal, as a new case sheds light onto the Financial Conduct Authority's "leisurely" approach to commencing regulatory hostilities.

15 March 2021

US Fed in a bind over “inexcusable” capital requirement relief

The United States’ congressional committees covering financial services have urged the Federal Reserve to defy calls to extend temporary capital requirements relief it extended at the outset of the covid-19 pandemic.

11 March 2021

Jones Day hires from Goldman Sachs

A Goldman Sachs senior counsel is joining Jones Day in its New York office.

11 March 2021

ESMA “dancing around the issue” with post-Wirecard transparency proposals

The European securities watchdog is “dancing around the issues” in its new proposals to overhaul the EU Transparency Directive in order to avoid advocating for the expansion of its own mandate, an economist has said.

09 March 2021

FCA and MAS name women to senior leadership roles

The UK’s Financial Conduct Authority will have a majority-female executive committee after making four new senior appointments, while Singapore’s regulator has announced its new head of financial supervision.

09 March 2021

FATF seeks tougher checks on WMD proliferation financing

The Financial Action Task Force has proposed tightening banks’ risk indicators for financing the proliferation of weapons of mass destruction, a week after it announced Pakistan would remain on its “greylist” for persistent terrorist financing issues.

08 March 2021

New Philippine digital bank framework prompts South African entrant

A South African fintech advised by Ashurst may become the first financial institution to be licensed under the Philippines’ new digital banking framework after it was enacted in November.

08 March 2021

FCA pulls the Libor trigger

The UK’s Financial Conduct Authority has made its widely-anticipated announcement of Libor’s cessation dates, while keeping open the prospect of a temporary “synthetic” Libor for so-called “tough legacy” contracts.

05 March 2021

BaFin suspends Greensill operations in Germany

Germany’s financial regulator BaFin has frozen supply chain finance bank Greensill’s operations in the country and filed a criminal complaint, days after an Australian court rejected the parent company’s injunction demand to renew insurance coverage for its multi-billion dollar lending operation.

05 March 2021

Greece’s Alpha Bank offloads €10.8 billion NPL portfolio, with White & Case advising

Greece’s second-largest bank, Alpha Bank, has agreed the sale of a €10.8 billion portfolio of non-performing loans to US private equity fund Davidson Kempner, following a governmental push to reduce the country’s NPL pile.

03 March 2021

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