If almost all communications between sales-traders and clients is classified as “research”, severe distortions will hit the economics of quality investment insights.
The Basel regime has shown itself to be incomplete and not universally applicable. With the Trump administration seeking to allow a return to proprietary trading, profound implications for global banks’ risk management are only just beginning to surface.
Super regulator’s major obstacle will be resisting the cycles of international financial history while meeting the challenges of a big, fast-growing economy.
MiFID II’s rollout into the middle of a market reversal and complaints about asset manager fees couldn’t have come at a worse time.
Large technology investments to improve compliance performance have not yielded desired results almost ten years after the global financial crisis.
The Trump administration’s Chapter 14 – a misguided attempt to end “too big to fail” by sending bank resolutions to court – will only heighten systemic risk.
For the first time, visitors to Hong Kong will soon have to declare cash they bring in. But money laundering will continue to flourish.
Proposed virtual banks rules fail to address the true future of financial services, risking Hong Kong’s descent into irrelevancy.
Once in a while capitalism must be rescued from the excesses of bankers and central banks. Governments can’t kill ideas, but it takes them a long time for them to concede or adapt.
Despite technological improvement and innovation, FIs are still not embracing fintech, and start-ups are finding it harder than expected to gain traction.