Bank of England governor Andrew Bailey has urged caution on stablecoin initiatives, saying multi-currency ‘baskets’ are the “wrong place to start”.
08 September 2020
The UK’s Prudential Regulation Authority will terminate a counter-cyclical emergency capital requirements policy adopted at the outset of the pandemic, while issuing new guidance on the treatment of deferrals under the IFRS 9 accounting standard.
28 August 2020
Artificial intelligence and machine learning have rapidly grown in importance during the covid-19 pandemic, say speakers at a recent Bank of England webinar – but a report issued the same day by a group of Hong Kong regulators said new types of risk arising from the use of the technologies may require new types of macroprudential regulation.
24 August 2020
UK ministers have approved new anti-money laundering guidance with special provisions on crypto-asset exchange providers, custodian wallet providers and pooled client accounts.
21 August 2020
An English court has denied UBS’s request to throw out a lawsuit filed by US regulator FDIC, which accuses the bank of colluding with 11 rivals to lowball US dollar Libor.
05 August 2020
The UK’s Financial Conduct Authority will require dual-regulated firms to “ensure and demonstrate” gender-neutral remuneration practices as part of CRD V compliance – while the Prudential Regulation Authority announces changes to its group buffer policies under the directive.
04 August 2020
Australian regulators have announced a relaxation on dividend restrictions imposed at the beginning of the covid-19 crisis – while their European counterparts have extended them until next year, and Singaporean regulators have called on banks to cap dividends for the first time.
29 July 2020
The UK’s Prudential Regulation Authority has introduced a set of new proposals to simplify regulatory requirements for new entrants to the banking market.
24 July 2020
Ukraine’s central bank has appointed a new governor after its previous head resigned over “systematic political pressure”; regulators in the UK and Dubai have announced board changes; and Swiss firm Schellenberg Wittmer has hired an of counsel in Geneva.
20 July 2020
Hong Kong regulators are being urged to produce a roadmap for their sustainable finance measures – as the Bank of England urges banks not to wait for climate disclosure to be made mandatory before submitting regular reports.
16 July 2020
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