Topic: Banking regulators

The International Organization of Securities Commissions has said its new global recommendations for crypto and digital assets will be a “turning point” for regulation in the area, with recommendations analogous to the regulation of equity and bond markets, including proposals that would govern conflicts of interest, operational risks, market manipulation and treatment of retail customers.

24 May 2023

The UK’s Prudential Regulation Authority has published its model risk management policy, but will limit its scope to mull over proportional implementation definitions for “Simpler-regime” banks.

22 May 2023

The UK’s central bank has announced plans to unify its enforcement approach, providing “carrots” for early cooperation and, potentially, disproportionately large fines for regulatory infringements by big firms.

15 May 2023

As the Federal Deposit Insurance Corporation announces its US$16 billion bill on the US banking sector for its rescue of depositors of SVB and Signature Bank in March, the regulator has suggested further guarantees large deposit of specific account types to provide reassurance during liquidity stress while limiting moral hazard.

11 May 2023

The Federal Reserve and the Federal Deposit Insurance Corporation have delivered their post-mortems on the collapses of Silicon Valley Bank and Signature Bank in March, blaming poor management for the two banks’ failures – but also highlighting gaps in their supervision with the hint of tighter oversight to come.

02 May 2023

Practitioners have expressed concern that the UK Financial Conduct Authority’s “very ambitious” new business plan may limit its bandwidth for activities outside of its consumer protection focus, as the regulator seeks to balance its focus on its commitments in a volatile market situation.

13 April 2023

Experts have said UK’s first full review of the Senior Managers and Certification Regime is “bland” and that the UK government is merely “looking for a pat on the back” for its efforts.

04 April 2023

China’s government and ruling party have announced plans to restructure the country’s financial supervision system, handing new powers to a specially-created party body and consolidating regulatory functions in a new, as-yet unnamed regulator.

28 March 2023

Subjecting the financial sector to the EU’s Cyber Resilience Act would lead to “confusion, duplications and overlaps” with the recently-passed DORA, a banking lobby group has warned.

09 March 2023

After several false starts, the European Commission has decided to review the EU’s third-country benchmarks regulation, admitting that its regime for EU banks’ use of non-EU benchmarks is “over-restrictive” and hampers their international competitiveness.

07 March 2023