News

Federal Reserve adds coronavirus scenarios to stress tests

The US Federal Reserve will include a coronavirus-specific sensitivity analysis in its annual stress test, in what will determine whether banks can sanction shareholder pay-outs and share buybacks.

22 June 2020

Hong Kong regulator raps CICC for disclosure failings

Hong Kong’s securities watchdog has criticised Chinese investment bank CICC for failing to disclose information related to two transactions, with the bank introducing new compliance and reporting measures in response.

19 June 2020

Covid-19 pushing CBDC development “into top gear”

The covid-19 pandemic is accelerating central banks’ development of their own digital currencies, senior figures in the Bank for International Settlements and Bank of England have said– as their counterparts in Canada, South Korea and Thailand all announce their own moves in the space.

19 June 2020

FCA punishes Commerzbank over AML failures

The UK’s Financial Conduct Authority has fined the London arm of German lender Commerzbank £37.8 million for failing to establish robust anti-money laundering controls.

18 June 2020

Australia’s ASIC outlines product intervention powers

The Australian Securities and Investments Commission will be able to penalise financial products “likely to result in significant consumer detriment” with outright bans, promotional restrictions, and with restrictions to certain classes of consumer, under newly-released guidelines.

17 June 2020

Swedish regulator ups interest risk sensitivity in new Pillar 2 proposal

Sweden’s banking regulator is proposing a new method for assessing capital contributions within Pillar 2 for interest rate risks outside the trading book.

17 June 2020

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

Get unlimited access to all Global Banking Regulation Review content