Regulation Correspondent, Europe
Huw's Feed
Jun 24, 2015

Bank of England plans credit union reform to help sector flourish

LONDON, June 24 (Reuters) – Credit unions need new rules to
reflect the broader range of financial services offered by the
local loan and savings organisations, the Bank of England said
on Wednesday.

The central bank’s Prudential Regulation Authority (PRA)
published proposals to reform regulation of credit unions, which
are being promoted by policymakers and the Church of England as
a viable alternative to costly pay-day lenders and a banking
sector tarnished by scandals and the financial crisis.

Jun 23, 2015

Britain finalises “toughest” banker bonus rules in the world

LONDON, June 23 (Reuters) – Top bankers in Britain could
have their bonuses clawed back a decade after they were awarded
under proposals from regulators on Tuesday that would make
industry pay curbs the toughest in the world.

Critics said the plans meant that British banks would have
to pay a premium to attract top bankers from overseas, while
lawyers questioned whether they could be enforced.

Jun 22, 2015

Insight – Market watchdogs fight back against central banks

LONDON (Reuters) – An uneasy truce between market watchdogs and central banks, struck during the financial crisis, is showing signs of strain as they look for ways to tackle potentially extreme volatility in bond markets when interest rates start to rise.

The watchdogs are worried central banks will try to impose bank-style rules such as capital requirements on market players like asset managers and specialist funds.

Jun 22, 2015

Market watchdogs fight back against central banks

LONDON (Reuters) – An uneasy truce between market watchdogs and central banks, struck during the financial crisis, is showing signs of strain as they look for ways to tackle potentially extreme volatility in bond markets when interest rates start to rise.

The watchdogs are worried central banks will try to impose bank-style rules such as capital requirements on market players like asset managers and specialist funds.

Jun 19, 2015

EU report: international accounting rules did not worsen 2008 crisis

LONDON, June 19 (Reuters) – The European Commission said on
Friday there was no clear evidence that adopting international
accounting rules made the bloc’s banking crisis worse and that
its benefits outweighed the costs.

The independent International Accounting Standards Board
(IASB) rules replaced a patchwork of national regulations 10
years ago for the 8,000 listed EU companies, with the aim of
increasing transparency and comparability for investors.

Jun 19, 2015

EU finance ministers back rules to curb bank trading risks

LUXEMBOURG/LONDON, June 19 (Reuters) – EU finance ministers
have agreed on a draft law to rein in trading risks at banks
that exempts Britain’s lenders because they already face similar
curbs.

The deal marks a coup for Britain whose own banking reform
will be accepted as a substitute for the EU law as the country
gears up for a referendum on its membership of the 28-country
club, with financial services a key focus.

Jun 18, 2015

IMF’s Vinals says central banks may have to be ‘market makers’

LONDON (Reuters) – Central banks may need to become “market makers of last resort” if there is not enough liquidity during volatile sell-offs, a senior International Monetary Fund official said on Thursday.

Regulators worry that when interest rates begin rising from their prolonged low levels there will be a stampede for the exits by bond investors and that markets won’t have the liquidity or capacity to deal with it smoothly.

Jun 18, 2015

SEC’s White praises Britain’s new bank accountability regime

LONDON (Reuters) – The top U.S. securities regulator praised new British bank rules on Thursday that make individual managers more accountable and said regulators in the United States should put more emphasis on personal responsibility.

Regulators globally are trying to instill higher standards of behavior at banks after many were fined billions of dollars in the United States, Britain and elsewhere for trying to rig interest rate benchmarks and currency markets.

Jun 17, 2015

Global regulators throw wrench into planned asset manager rules

By Huw Jones

(Reuters) – The world’s umbrella body for market regulators
will launch an immediate full review of potential risks from
asset management activities and products, throwing into doubt
planned new global rules for top funds.

The International Organization of Securities Commissions
(IOSCO) said its board had concluded that a full review was
needed with an immediate focus on identifying potential systemic
risks.

Jun 17, 2015

Global regulators throw spanner into planned asset manager rules

LONDON (Reuters) – The world’s umbrella body for market regulators will launch an immediate full review of potential risks from asset management activities and products, throwing into doubt planned new global rules for top funds.

The International Organization of Securities Commissions (IOSCO) said its board had concluded that a full review was needed with an immediate focus on identifying potential systemic risks.

    • 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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