Topic: Banking regulators

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

What’s in store for 2023? Part one: crypto

How will regulators grapple with crypto in 2023, after one of the rockiest years in the industry’s short history? In the first of three pieces examining what 2023 has in store for banking regulation, GBRR spoke with practitioners from Europe, the United States, Singapore and Hong Kong about the road ahead for crypto.

09 January 2023

Ending the year on a high: FCA hands Santander nine-figure fine for AML faults

The FCA has landed its highest fine of the year against Spanish bank Santander’s UK arm, over failures in its customer due diligence and transaction monitoring.

09 December 2022

UK’s Basel III implementation to “improve” on global standard

The Bank of England’s prudential policy director has warned the UK’s implementation of Basel III will mean “significant changes” for risk weighting, but said the UK’s implementation would avoid what he implied was the “excessive conservatism” of the global standard.

08 December 2022

McWilliams ousting haunts FDIC chair confirmation hearing

The actions of FDIC chair nominee Martin Gruenberg leading up the resignation of his Republican predecessor Jelena McWilliams have come back to haunt him as he seeks confirmation to his old job, while a grouping of state-level regulators are raising concerns that President Joe Biden’s slate of nominees to the regulator’s board forgoes a key legal requirement.

06 December 2022

Fed’s Barr open to tougher capital standards

Federal Reserve vice chair for supervision Michael Barr opened the door to more stringent regulatory requirements in his first substantive remarks on capital requirements since taking office earlier this year, in a speech which also trailed big changes to come in future for stress tests.

05 December 2022

FCA to extend Libor wind-down timetable

The FCA has suggested postponing the cessations of the Libor three-month sterling and the one, three, six-month US dollar interbank rate benchmarks until 2024.

30 November 2022

FTX failure bolsters “same risk, same regulation” argument, UK regulator says

The Bank of England’s deputy governor for financial stability Jon Cunliffe has spoken out about how the collapse of crypto exchange FTX will impact the UK’s plans for crypto regulation – while giving details on the central bank’s plans for a systemic payment systems regulatory regime and a digital pound.

22 November 2022

Revolving door pays off as Binance gains ADGM custody licence

The world’s largest crypto exchange has obtained its third licence in the Gulf region, after a distressing few weeks for the digital assets space following the implosion of its major rival FTX.

17 November 2022

FMLC champions common law to develop “third category of property” for digital assets

The Financial Markets Law Committee, an influential City body, has urged the Law Commission to go the common law route to create a “third category of property” to cover digital assets, rather than relying on a statutory creation.

10 November 2022

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