UK government spells out further support to booming fintech sector and includes measures such as boosting ‘robo-regulation’ to boost efficiency and cut costs
SEC hands out biggest ever whistleblower award
SEC hands out record rewards for whistleblowers who helped it uncover serious violations
FDIC’s Hoenig warns bank concentration greater than ever
Departing FDIC vice-chair warns over procedural type regulation exacerbating the too big to fail problem by encouraging bigger banking groups
CLO market edging closer to retention exemption
CLOs edge closer to exemption from risk retention rules as US regulators fail to challenge a recent court decision
Warren warns that reforming Dodd-Frank risks new financial crisis
Senator Elizabeth Warren has criticises the US administration’s reforms of Dodd-Frank, warning they could cause another financial crisis. Justin Pugsley reports.
Hong Kong: tackling risks key to better competitiveness
A forum hosted by Hong Kong’s Securities and Futures Commission looked at how the autonomous territory can maintain competitiveness in the face of emerging market risks and growing market connectivity. Justin Pugsley reports.
Harmonising resolution regimes key to spurring EU cross-border lending
Tackling the EU’s non-performing loans is critical if it is to reap the benefits of cross-border banking, such as risk diversification and sharing, and there should be more harmonisation in resolving bad loans, says a European Central Bank working paper. By Justin Pugsley
Transition period unlikely to threaten City of London
A proposed transition after the UK leaves the EU, but remains in it in all but name and therefore subject to all its rules, does not particularly worry the UK financial sector. What sets pulses racing is what comes afterwards, on which there is still little clarity. By Justin Pugsley
Bank of England confirms FPC re-appointments
Bank of England confirms three re-appointments made by the UK chancellor Philip Hammond to the Financial Policy Committee.
SFC fines Credit Suisse for breaches
Credit Suisse fined $39.3m by Hong Kong’s SFC, but escapes harsher penalties for reporting regulatory breaches and for taking remedial action.
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