Region: Europe

“Complex and costly” regulation holds back EU growth, industry body says

A review of the current capital requirements and supervisory processes could provide capacity for approximately €4 trillion in additional bank lending, a study conducted by banking lobby group the European Banking Federation suggests. The European Central Bank disagrees.

31 January 2023

EU: ECON passes Basel implementation package with consolidated output floor

A key EU parliamentary committee has accepted adaptations to the final Basel III implementation, and opened the door for a potential future dedicated prudential framework that could include a “one-for-one” capital treatment for crypto and fossil fuel financing.

30 January 2023

Overconfident and underprepared: implementation fears as Consumer Duty deadline approaches

“It is possible the FCA has underestimated quite how much work is required”: with only six months to go until the first of the implementation dates for its new Consumer Duty, the UK's Financial Conduct Authority has raised the alarm over some firms’ lack of preparedness.

25 January 2023

Simpson Thacher hires new co-head for European finreg practice

Travers Smith partner Stephanie Biggs is set to join Simpson Thacher & Bartlett’s London office.

25 January 2023

“A great loss”: UK’s FSCB to shut up shop

The Financial Services Culture Board, the good-practices organisation for the UK’s financial sector which replaced the Banking Standards Board two years ago, is set to close.

24 January 2023

A blessing or a curse: tokenisation is finance’s number one operational risk, BdF’s Beau says

Tokenisation has the potential to jeopardise the stability of the entire financial system and is the “number one operational risk” to financial players, a senior French regulator has warned a New York audience, as he outlined his ambitions for DLT regulation in France.

23 January 2023

MoFo hires from Bank of England

Bank of England senior adviser Sam Riley has joined Morrison Foerster as a partner in the firm’s London office.

20 January 2023

PRA’s policies already embrace competitiveness objective, BoE’s Bailey says

As the new competitiveness objective for the UK’s financial regulators inches closer to becoming law, Bank of England governor Andrew Bailey – once a public critic of the idea – has argued the Prudential Regulation Authority’s current activities already satisfy the objective.

20 January 2023

What’s in store for 2023? Part three: regional issues

Some of the regulatory issues banks will face in 2023 cut across borders, but not all. In this final part of GBRR’s examination of the year to come, we asked practitioners in the US, UK, Singapore, and Hong Kong how local issues will play out over the next 12 months.

18 January 2023

ESMA targets social media influencer relationships

EU financial institutions’ collaborations with social media influencers are set to undergo new scrutiny, as ESMA announces plans to examine how they apply MiFID II disclosure rules to their marketing communications.

18 January 2023

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