UK’s Basel III implementation to “improve” on global standard

The Bank of England’s prudential policy director has warned the UK’s implementation of Basel III will mean “significant changes” for risk weighting, but said the UK’s implementation would avoid what he implied was the “excessive conservatism” of the global standard.

08 December 2022

Convergence on climate: Fed’s guidance mirrors OCC and FDIC

The Federal Reserve has emphasised consistency with other US regulators in its draft guidance for big banks’ climate-related risks, with an emphasis on scenario analysis.

08 December 2022

White & Case hires from A&O in Frankfurt

White & Case has expanded its financial services regulatory practice in Frankfurt with the hire of a new partner, Woldemar Häring, from Allen & Overy.

08 December 2022

Crypto lender to exit US after CFPB insists on investigative jurisdiction

Swiss crypto lender Nexo is closing its business in the United States, blaming the country’s “inconsistent and changing positions” over crypto regulation, after negotiations over a civil investigative demand issued by the Consumer Financial Protection Bureau came to a dead end.

07 December 2022

In-House: GBRR meets Nimesh Christie of Mizuho

“We all want the same thing, so let's work together to get that.” GBRR speaks with Mizuho’s senior legal counsel for EMEA regulatory change Nimesh Christie, about what he wants from external counsel, the importance of the compliance role within banks, and the importance of a banking regulatory community.

07 December 2022

CFTC chair defends FTX record and asks for more powers

CFTC chair Rostin Behnam has defended his agency’s handling of the FTX debacle before the US senate, calling on it to grant him the statutory authority to oversee crypto firms he said would have averted the collapse.

06 December 2022

McWilliams ousting haunts FDIC chair confirmation hearing

The actions of FDIC chair nominee Martin Gruenberg leading up the resignation of his Republican predecessor Jelena McWilliams have come back to haunt him as he seeks confirmation to his old job, while a grouping of state-level regulators are raising concerns that President Joe Biden’s slate of nominees to the regulator’s board forgoes a key legal requirement.

06 December 2022

Fed’s Barr open to tougher capital standards

Federal Reserve vice chair for supervision Michael Barr opened the door to more stringent regulatory requirements in his first substantive remarks on capital requirements since taking office earlier this year, in a speech which also trailed big changes to come in future for stress tests.

05 December 2022

PwC hires prudential reg partner from Deloitte

PricewaterhouseCoopers has hired a new partner for its prudential regulation practice in London from Big Four rival Deloitte.

05 December 2022

A&O, Linklaters and Wachtell Lipton advising as RBC attempts HSBC Canada acquisition

Canada’s largest bank is seeking to acquire HSBC’s operations in the country, a “once in a generation” domestic bank M&A that looks set to provoke competition concerns in one of the world’s most concentrated banking markets.

01 December 2022

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