Regulation Correspondent, Europe
Huw's Feed
Nov 26, 2014

EU markets watchdog reviewing “falsely active funds”

LONDON, Nov 26 (Reuters) – The European Union’s markets
watchdog said on Wednesday it was assessing the extent to which
some actively-managed funds potentially mislead investors by
simply tracking a stock index.

Since the financial crisis, regulators around the world have
intervened in various financial markets to ensure that investors
get a better deal, fining firms for bad practice and changing
the rule-book.

Nov 26, 2014

Bank of England plans accountability regime for insurers

LONDON, Nov 26 (Reuters) – Chief executives and other senior
officials at insurance companies in Britain will be made
directly accountable for the decisions they take under plans
announced by the Bank of England on Wednesday.

The plans are similar to those the Bank’s Prudential
Regulation Authority arm has already proposed for senior
bankers. Lawmakers criticised regulators for bringing so few
bankers to book after lenders had to be shored up by taxpayers
in the 2007-09 financial crisis.

Nov 25, 2014

Global regulators seek ways to avert rule disputes

LONDON (Reuters) – Global regulators want better coordination of rules but not a body to settle disputes like the transatlantic spat over derivatives, a financial watchdog report said on Tuesday.

The International Organisation of Securities Commissions (IOSCO) said its report, based on a survey of regulators and banks, was a first attempt at a broad framework for dealing with differing approaches to cross-border regulation.

Nov 25, 2014

FCA homes in on ‘survival borrowing’ in credit card probe

LONDON (Reuters) – Britain’s credit card market is not working well for struggling customers who over-borrow and pay unexpectedly high rates, the country’s financial regulator said on Tuesday, as it launched a study that could change the way cards are sold.

The Financial Conduct Authority (FCA) said it would study how easy it is for customers in Europe’s biggest credit card market to shop around, how card providers recover costs, and the extent of unaffordable debt.

Nov 25, 2014

Watchdog homes in on ‘survival borrowing’ in credit card probe

LONDON (Reuters) – Britain’s credit card market is not working well for struggling customers who over-borrow and pay unexpectedly high rates, the country’s financial regulator said on Tuesday, as it launched a study that could change the way cards are sold.

The Financial Conduct Authority (FCA) said it would study how easy it is for customers in Europe’s biggest credit card market to shop around, how card providers recover costs, and the extent of unaffordable debt.

Nov 25, 2014

UK watchdog homes in on “survival borrowing” in credit card probe

LONDON, Nov 25 (Reuters) – Britain’s credit card market is
not working well for struggling customers who over-borrow and
pay unexpectedly high rates, the country’s financial regulator
said on Tuesday, as it launched a study that could change the
way cards are sold.

The Financial Conduct Authority (FCA) said it would study
how easy it is for customers in Europe’s biggest credit card
market to shop around, how card providers recover costs, and the
extent of unaffordable debt.

Nov 24, 2014

Bank of England mulls tougher capital rules for clearing houses

LONDON, Nov 24 (Reuters) – Financial institutions that
settle trillions of dollars of derivative contracts a day may
need to hold more capital to stop them requiring a government
bailout if they fail, a senior Bank of England official said on
Monday.

David Bailey, a BoE official responsible for financial
market infrastructure, said clearing houses – also known as
central counterparties (CCPs) – might need to build up bigger
capital buffers, as banks are already being required to do.

Nov 21, 2014

ECB wants flexibility in EU banks trading law

LONDON, Nov 21 (Reuters) – The European Central Bank (ECB)
wants flexibility in how it applies planned EU rules to isolate
high-risk trading at big banks, to avoid harming financing for
the economy, it said on Friday.

The ECB’s opinion will carry clout because from this month,
it became the supervisor for the euro zone’s top banks.

Nov 21, 2014

U.S. under pressure to match EU rules on market benchmarks

LONDON, Nov 21 (Reuters) – The United States may need
tougher rules to regulate market benchmarks or risk being locked
out of the European Union market, a top U.S. regulator has said.

The EU is approving extensive rules drafted by the European
Commission after banks were fined billions of dollars for
attempting to rig currency market and interest rate benchmarks.

Nov 21, 2014

UK concedes defeat in bid to block EU bank bonus limit

BRUSSELS/LONDON (Reuters) – Britain suffered an embarrassing defeat in its attempt to block the European Union’s new limits on bank bonuses on Thursday, withdrawing its legal challenge after an adviser to the bloc’s top court made clear it was unlikely to succeed.

The EU law aims to curb the kind of risk-taking that led to the 2007 to 2009 financial crisis by limiting bonuses awarded from next year to a sum no more than a banker’s fixed pay, or twice that level with shareholder approval.

    • About Huw

      "Huw is based in London and covers European regulatory issues and global rulemaking bodies such as the G20, Financial Stability Board, IOSCO, IASB and the Basel Committee. He has covered EU regulation in Brussels, the emergence pan-European stock markets, and has also been a Wall Street reporter in New York."
    • Follow Huw