Regulation Correspondent, Europe
Huw's Feed
Apr 21, 2015

Basel watchdog curbs bank capital discretion for supervisors

LONDON (Reuters) – Global regulators have jettisoned a string of national “waivers” from bank capital rules to help restore credibility in benchmark ratios published by lenders.

Regulators have found wide variations in the amount of capital banks hold against a similar set of loans, denting investor confidence in published capital ratios and hit valuations in the sector.

Apr 20, 2015

EU finance ministers asked to set capital markets union priorities

LONDON (Reuters) – Setting clear priorities would generate momentum for the European Union’s “capital markets union” plan to lift growth, EU president Latvia has proposed.

The CMU project aims to increase the amount of funds raised by stock, bond and other markets for companies to grow. The 28-country bloc relies heavily on banks for funds, which has been difficult since the financial crisis as lenders focus on building up capital defenses.

Apr 20, 2015

Draft EU rules on broker commission a setback for asset managers

LONDON (Reuters) – Efforts by banks and asset managers to dilute planned European Union rules on paying for research on stock picks are being rebuffed by the bloc’s executive, a draft EU document showed.

The European Commission is writing rules to implement an update of the EU’s securities trading law known as MiFID II.

Apr 17, 2015

Home from Brussels, Hill assures Britons EU is close to them

LONDON (Reuters) – European Union policymakers are much more favorable to British interests and ideas than many Britons think, Prime Minister David Cameron’s nominee to the EU executive told an audience from the City of London on Friday.

Three weeks before an election in which Cameron has tried to fend off Eurosceptics by promising a referendum on leaving the EU if voters return him to power, Jonathan Hill, EU financial services commissioner, said he had been struck since arriving in Brussels how much common ground there was with London.

Apr 17, 2015

EU prepares rules for tackling failed financial firms outside banking

LONDON (Reuters) – The European Union is looking at creating rules on how to deal with financial firms outside the banking industry that run into trouble, including clearing houses, insurers and asset managers, the EU’s financial services chief said on Friday.

The 28-country bloc has already introduced rules on how to wind down troubled banks without turning to taxpayers for cash. It now wants a similar regime for other so-called systemic financial market participants.

Apr 17, 2015

EU’s British finance chief woos London capital market leaders

LONDON, April 17 (Reuters) – European Union plans to help
markets raise more funds for the economy play to London’s
strengths as a global trading centre, the bloc’s financial
services chief Jonathan Hill told leading bankers and dealers on
Friday.

In his first speech to London’s financial community since
his appointment to the European Commission last November, the
former Conservative minister went out of his way to praise
London for its ability to innovate and adapt to change.

Apr 16, 2015

EU bank supervisors focus on bonuses, cyber resilience, conduct

LONDON, April 16 (Reuters) – European Union regulators will
focus this year on whether banks are complying with the bloc’s
new cap on bonuses, and doing enough to withstand cyber attacks
and prevent misconduct.

The cap, limiting bonuses to no more than fixed salary, or
twice that amount with shareholder approval, became law last
year but in practice applies to awards handed out from this year
onwards.

Apr 16, 2015

EU lawmaker backs supervisory discretion on bank trading risks

LONDON, April 16 (Reuters) – Supervisors should have
discretion when it comes to deciding if a bank must isolate
trading activities under planned European Union rules, a senior
EU lawmaker said on Thursday.

EU member states and the European Parliament are
scrutinising a law on reining in risks from trading derivatives,
stocks and bonds at banks to apply lessons from the 2007-09
financial crisis.

Apr 15, 2015

FCA fines Bank of New York Mellon 126 million pounds

LONDON (Reuters) – Britain’s markets regulator has fined Bank of New York Mellon (BK.N: Quote, Profile, Research) 126 million pounds for failing to keep customer money safe during the financial crisis.

The Financial Conduct Authority (FCA) said on Wednesday the fine was levied on Bank of New York Mellon’s London branch, and on Bank of New York Mellon International Limited for breaches that spanned nearly six years from November 2007 to August 2013.

Apr 15, 2015

UK watchdog fines Bank of New York Mellon $185 million

LONDON (Reuters) – Britain’s markets regulator has fined Bank of New York Mellon (BK.N: Quote, Profile, Research, Stock Buzz) 126 million pounds ($185.30 million) for failing to keep customer money safe during the financial crisis.

The Financial Conduct Authority (FCA) said on Wednesday the fine was levied on Bank of New York Mellon’s London branch, and on Bank of New York Mellon International Limited for breaches that spanned nearly six years from November 2007 to August 2013.

    • 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."
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