Regulation Correspondent, Europe
Huw's Feed
Jun 8, 2015

Basel watchdog proposes bank capital rule to cover interest rate risks

June 8 (Reuters) – Global banking regulators have proposed
two options for forcing banks to hold far more capital to cover
risks from rises in interest rates.

The Basel Committee, a body of banking supervisors from
nearly 30 countries, published on Monday a document for public
consultation that sets out two alternatives: a mandatory minimum
capital surcharge on banks, and a discretionary surcharge set by
supervisors.

Jun 7, 2015

Britain to unveil plans to clean up markets hit by rigging scandals

LONDON, June 7 (Reuters) – Britain’s regulators will unveil
plans on Wednesday that aim to clean up behaviour in the
financial markets, where banks have been fined billions of
pounds for trying to rig currencies and interest rate
benchmarks.

The Bank of England, Treasury and the Financial Conduct
Authority will publish recommendations from their Fair and
Effective Markets Review into conduct and operation of currency,
bond and commodity markets.

Jun 5, 2015

British markets watchdog names Mark Steward as new top enforcer

LONDON/HONG KONG, June 5 (Reuters) – Britain’s markets
watchdog has appointed the Hong Kong Securities and Futures
Commission’s Mark Steward as its top enforcer, it said on
Friday.

Steward has clocked up several high profile victories as
head of enforcement at the Hong Kong watchdog, including the
first criminal prosecution for insider trading in 2009, and the
first forced liquidation of a listed company for fraud in
February.

Jun 4, 2015

EU gives banks, pension funds more breathing space over derivatives

LONDON/AMSTERDAM, June 4 (Reuters) – The European Commission
will give banks in the EU another six-month exemption until
December from having to hold extra capital to cover transactions
at clearing houses that don’t meet the bloc’s standards.

“The decision will give the market the legal certainty it
needs for the next six months,” EU financial services
commissioner, Jonathan Hill, said in a statement on Thursday.

Jun 3, 2015

FCA proposes new rules to avoid excessive fees for benchmarks

LONDON (Reuters) – Britain’s financial watchdog has proposed rules to ensure that widely-followed market benchmarks like Libor interest rates, gold or oil are available to all at a fair price.

After banks were fined for trying to rig the Libor interest rate benchmark and currency markets, Britain has required eight major market benchmarks to be run by an independent administrator to reduce the chances of manipulation.

Jun 3, 2015

UK watchdog proposes new rules to avoid excessive fees for benchmarks

LONDON, June 3 (Reuters) – Britain’s financial watchdog has
proposed rules to ensure that widely-followed market benchmarks
like Libor interest rates, gold or oil are available to all at a
fair price.

After banks were fined for trying to rig the Libor interest
rate benchmark and currency markets, Britain has required eight
major market benchmarks to be run by an independent
administrator to reduce the chances of manipulation.

Jun 2, 2015

UK’s BoE to scrutinise insurer investment in infrastructure

LONDON, June 2 (Reuters) – The Bank of England (BoE) will
scrutinise whether insurers are taking on too much risk by
investing in infrastructure projects which may not be suitable
for traditional portfolio management, it said on Tuesday.

Insurers have been coming under pressure from policymakers
to invest in economic growth through building new roads, bridges
and telecoms networks, projects that can offer higher yields
than government bonds.

Jun 2, 2015

Global regulators concerned over banks’ own capital risk models

LONDON (Reuters) – Banks should not depend on internal models for assessing the size of their capital buffers, a trio of global regulators said on Tuesday.

“Supervisors should be cautious against over-reliance on internal models for credit risk management and regulatory capital,” the Joint Forum said in a statement.

May 31, 2015

Top asset managers unite to push back on global rules – again

LONDON, May 31 (Reuters) – The world’s multi-trillion dollar
asset management industry has presented a united front to reject
proposals aimed at mitigating risks in the sector, even after
they were revised by regulators.

The Group of 20 economies’ (G20) task force, the Financial
Stability Board (FSB), wants funds above a certain size to face
closer, yet-to-be-detailed, scrutiny.

May 29, 2015

Watchdog suggests EU take less rigid view of foreign derivatives rules

LONDON, May 29 (Reuters) – The European Union may need to be
less rigid in its approach to dealing with financial rules from
outside the bloc to avoid disputes with other countries, the
EU’s top markets regulator said on Friday.

The EU’s executive European Commission and U.S. Commodity
Futures Trading Commission (CFTC) have been at loggerheads for
months over whether to recognise each others’ rules for making
markets for financial derivatives safer in the wake of the
2007-2009 financial crisis.

    • 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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