The UK’s Financial Conduct Authority has outlined the scenarios in which it will publish a newly-calculated “synthetic” Libor after its end-2021 discontinuation, under fresh powers handed to it by the newly introduced Financial Services Bill.
23 November 2020
The UK Treasury has announced it will grant several equivalence rights to EEA financial firms, amid doubts the EU will reciprocate without the UK including further arrangements in their Brexit plans.
11 November 2020
The Bank of England has confirmed that its inaugural climate stress tes will take place next year, as the UK’s chancellor announces a roadmap to will make climate disclosure mandatory for banks by the end of next year.
10 November 2020
The UK’s Prudential Regulation Authority has proposed expanding its operational continuity expectations to protect firms’ core business lines during resolutions and restructurings.
02 November 2020
Credit Suisse has named a new general counsel for investment banking after 24-year veteran Natalia Nicolaidis’ departed to set up her own consulting firm; while HSBC has hired Barclays’ former general counsel Bob Hoyt.
02 November 2020
Goldman Sachs has been ordered to improve its risk management and oversight procedures after settling with 10 regulators in five jurisdictions over an alleged multibillion-dollar bribery and embezzlement scheme with respect to Malaysian fund 1MDB.
29 October 2020
Ashurst has named two new partners in its London and Sydney offices, while the US Financial Crimes Enforcement Network has appointed a new associate director to lead its policy division.
20 October 2020
The Bank of England and Monetary Authority of Singapore are among the global regulators appealing for urgency with next year’s transition away from the Ibor benchmarks – even as nearly two thirds of firms at a recent event dedicated to the transition admitted they still do not have plans in place.
05 October 2020
Simpson Thacher & Bartlett is set to hire a partner from Clifford Chance in its London office; Israeli firm Herzog Fox & Neeman has hired an old hand from Bank Leumi; and Bird & Bird has tapped a Norton Rose Fulbright partner to lead its financial regulation practice in Dubai.
28 September 2020
The UK’s Financial Conduct Authority is encouraging riskier EU banks to establish local subsidiaries rather than branches after Brexit, in a new guide to its approach to international firms – while the Prudential Regulation Authority has issued changes to its binding technical standards and rulebook as the transition nears its end.
24 September 2020
Get unlimited access to all Global Banking Regulation Review content