Regulation Correspondent, Europe
Huw's Feed
May 26, 2015

Lehman collapse shapes Bank of England’s trading test for lenders

LONDON, May 26 (Reuters) – Britain’s top banks will be
tested this year for their ability to cope with the type of
market mayhem that followed the collapse of U.S. bank Lehman
Brothers in 2008, the Bank of England said on Tuesday.

The specific test for risks from trading books will be
applied to seven banks and will supplement the broader annual
stress tests announced in March.

May 22, 2015

Global regulators to meet in London, fix rules after rigging scandals

LONDON (Reuters) – Global regulators meet in London next month to try to tighten their grip on markets after banks were fined billions of dollars for manipulating interest rates and currencies, Britain’s top financial supervisor said.

The hefty penalties on British, American and Swiss banks have forced authorities to rethink regulation for a chunk of the market hitherto left to discipline itself, said Martin Wheatley, chief executive of the Financial Conduct Authority (FCA).

May 22, 2015

UK referendum will not affect push for capital markets union – EU finance chief

LONDON, May 22 (Reuters) – A push towards a capital markets
union in the European Union will continue regardless of a
planned referendum in Britain on its membership of the
28-country bloc, EU financial services chief Jonathan Hill said
on Friday.

London is the bloc’s biggest financial centre and regarded
as a core part of Hill’s efforts for a pan-EU effort to increase
the ability of markets to raise finance, to drive economic
growth in Europe as banks rein in lending.

May 22, 2015

FCA details competition probe into primary market banking services

LONDON (Reuters) – Britain’s market watchdog said it will use its competition powers for the first time to check whether customers are getting adequate choice and value for money in wholesale banking services.

The main focus will be on the primary market where companies issue bonds and shares to raise funds for financing expansion and getting advice on mergers, the Financial Conduct Authority (FCA) said on Friday.

May 22, 2015

UK watchdog details competition probe into primary market banking services

LONDON, May 22 (Reuters) – Britain’s market watchdog said it
will use its competition powers for the first time to check
whether customers are getting adequate choice and value for
money in wholesale banking services.

The main focus will be on the primary market where companies
issue bonds and shares to raise funds for financing expansion
and getting advice on mergers, the Financial Conduct Authority
(FCA) said on Friday.

May 21, 2015

EU told rules on commodity price speculation risk losing their teeth

BRUSSELS/LONDON, May 21 (Reuters) – New European Union rules
to crack down on speculation in food and other commodity prices
risk being watered down during final negotiations over detail,
campaigners said on Thursday.

Following the United States’ lead, the 28-country bloc will
set limits on how big a position traders can hold in grains, oil
and other commodities to avoid undue influence over prices.

May 21, 2015

BoE’s Bailey says banker accountability rules not a “witch hunt”

LONDON, May 21 (Reuters) – New rules to make senior managers
and board members of banks and insurers directly accountable for
their actions are about increasing clarity, not witch hunts,
Bank of England Deputy Governor Andrew Bailey said on Thursday.

Britain will roll out its new Senior Managers’ Regime this
year, seen by the BoE as an essential step to help pin
responsibility for reckless behaviour on individuals.

May 21, 2015

EU banking watchdog calls for tighter security for online shopping

LONDON (Reuters) – Banks should provide customers with the means to create one-off passwords from August to make buying over the Internet safer, European Union banking regulators said on Thursday.

The European Banking Authority announced details of its plans over the coming years to make e-commerce safer, breaking new ground for the watchdog in the retail payments sector.

May 20, 2015

France wants broad goals for EU capital markets union

LONDON, May 20 (Reuters) – European Union plans to make its
capital markets more efficient at raising funds for the economy
could also help deepen euro zone monetary integration and create
a new breed of European industrial champions, France has said.

A public consultation on EU plans for a Capital Markets
Union (CMU) has just ended and the bloc’s financial services
chief Jonathan Hill is due to respond in September on what will
be his priority measures.

May 18, 2015

EU watchdog challenged over ‘shadow-bank’ curbs on lenders

LONDON (Reuters) – Curbing mainstream banking links to “shadow banks” will bolster confidence in the financial system while still allowing funding for the economy, European Union regulators said on Monday.

The 2007-09 financial crisis prompted policymakers to shine a spotlight on the hitherto largely unregulated sector, which creates credit as do banks.

    • 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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