Joachim Nagel, who sits on the board of German state owned development bank KfW, has been appointed deputy head of the banking department at the Bank for International Settlements (BIS).
Regulatory Relations
UK-US trade talks progress well with more scheduled for June
The UK and US completed formal trade talks on May 5-15 and reported good progress, with the next round of negotiations scheduled to take place on June 15-22.
Ashley Alder to lead SFC for three more years from September
Ashley Alder, the CEO of the Securities and Futures Commission (SFC), who was due to step down in September, will stay in charge for another three years, according to the Hong Kong government.
BIS appoints head for its Hong Kong innovation centre
Bénédicte Nolens has been appointed to head the Bank for International Settlements (BIS) Hong Kong innovation centre for three years starting July 1, 2020.
EU legal order under threat from German court ruling
Germany’s supreme court dealt a body blow to the EU by asserting the supremacy of the member states and by challenging the mandate of the European Central Bank and Court of Justice, potentially unpicking the bloc’s legal order
Firms lash out at ESMA over “regulatory creep”
If ESMA gets its way, third-country financial firms doing business in the EU will have to provide vast amounts of extra information in what many see as a Brexit-related political move
Hong Kong’s financial hub status in question after US comments
Threats from the US to end Hong Kong’s special trading status pose a potential long-term threat to the city’s role as a global financial centre. By Justin Pugsley.
Bank of England tells UK banks to prepare for a ‘hard Brexit’
Bank governor Andrew Bailey has warned chiefs to get ready for a ‘no deal’ scenario at the end of 2020. By Justin Pugsley
UK regulators welcome retention of two-year TTP powers
The Bank of England and the Prudential Regulation Authority welcomed the move by the UK Treasury over its intention to retain the regulators’ temporary transitional power (TTP) for two years after the UK’s transition period with the EU ends.
ESMA and MAS sign MoU to allow use of Singapore benchmarks in EU
The process allowing Singaporean interest rate benchmarks to be used in the EU has been completed following the signing of a memorandum of understanding (MoU) between the authorities of the two jurisdictions.
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