CFTC’s Sterling to Jones Day, FCA’s Woolard to EY

The former head of the US Commodities and Futures Trading Commission’s market participants division, and the former interim chief executive of the UK’s Financial Conduct Authority, have both announced their respective private practice destinations after leaving government service.

19 February 2021

Cravath hires Debevoise partner Portilla

Debevoise & Plimpton partner David Portilla, one of GBRR’s “45 under 45”, has joined Cravath Swaine & Moore in its New York office.

17 February 2021

EU banking associations call for Basel III flexibility to address pandemic fallout

Banking associations in Germany and Italy have called for EU regulators to tweak the insolvency framework and delay Basel III implementation, to allow banks to address the fallout from the covid-19 pandemic.

17 February 2021

PRA breaks from EBA approach to software assets

The UK’s Prudential Regulation Authority has proposed requiring all intangible assets to be fully deducted from CET1 capital under newly-proposed capital requirements – its first significant divergence from its EU counterparts since Brexit.

16 February 2021

ECB “nervous” over banks using capital buffers, conference told

The Single Supervisory Mechanism is not ready for EU banks to use their capital buffers, and needs to provide clarity on when they can dip into them, a key figure at a major European bank has told the European Banking Institute’s annual banking regulation conference.

16 February 2021

Market “woefully unprepared” for SFDR with one month to go

EU regulators have published the final details for the Sustainable Finance Disclosure Regulation set to take effect next month, even as one practitioner says the market is “woefully unprepared” for its effects.

12 February 2021

Luxembourg ushers in blockchain era for securities

New legislation passed in Luxembourg will allow the use of distributed ledger technology for issuing and settling dematerialised securities.

12 February 2021

Darrois Villey advising as BPCE seeks Natixis squeeze-out

French bank BPCE has filed with French regulators to take total control of its investment banking subsidiary Natixis.

10 February 2021

Hong Kong proposes to stamp out “undesirable” capital markets conduct

Hong Kong’s securities regulator has proposed a detailed code of conduct for capital markets transactions in an effort to stamp out “undesirable” behaviour from intermediaries.

10 February 2021

India prepares “private” cryptocurrency ban

India’s parliament is considering a proposal that would prohibit “private” cryptocurrencies, despite industry participants complaining there has been “no clear communication” on what falls under the definition.

09 February 2021

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