Europe

Capital / Liquidity

UK Regulators Defer Majority of Regulatory Initiatives

By Editors | 11/05/2020

Incoming Basel requirements and margin rules will be deferred. The transition away from LIBOR will continue as planned. Work is still underway to prepare for Brexit.

Big Picture

Regulatory Initiatives to Address Culture & Conduct Risk in Banking

By Editors | 11/05/2020

In its latest annual Compendium, Starling draws on survey findings and commentary from regulators to identify ten culture and conduct trends in the banking sector.

AML / KYC

European Commission Sets Out Action Plan to Root Out AML Loopholes

By Editors | 10/05/2020

A single EU rulebook will minimise interpretation and implementation discrepancies across member states, and an EU-level AML/CFT body will address supervisory gaps.

Market Infrastructure

ESMA Approves Four Trade Repositories for SFTR Reporting

By Editors | 10/05/2020

DTCC, UnaVista, KDPW and REGIS-TR will have their TR registrations for derivatives contracts under EMIR extended to include securities financing transactions under SFTR.

Market Infrastructure

EU Benchmark Equivalence Regime Not Scalable: ISDA, FIA

By Manesh Samtani | 07/05/2020

While the Associations welcome the legal approach taken, they highlight that the draft equivalence decision excludes the widely referenced Nikkei and JPX benchmarks.

Market Infrastructure

ECB Seeks Further Guidance from SWIFT on ISO 20022 Delay

By Editors | 06/05/2020

The request follows a March decision by SWIFT’s Board to extend the original timeline for implementation of ISO 20022 for cross-border payments by one year to end-2022.

Market Infrastructure

Industry Bodies Request Margin Exemption Extensions under EMIR

By Manesh Samtani | 06/05/2020

ISDA and other industry associations are asking for equivalence decisions for all jurisdictions that have implemented margin rules in line with the BCBS-IOSCO framework.

Market Infrastructure

FCA Extends Deadline for Lenders to Stop Issuing New LIBOR Loans

By Editors | 30/04/2020

The deadline extension for lenders is a response to Covid-19, as the FCA seeks to avoid disrupting the flow of loans to help companies stay afloat during the pandemic.

AML / KYC

Digital Identification in a Post-COVID World

By Editors | 28/04/2020

Social distancing has put KYC into sharp focus, with regulators reiterating their support for digital onboarding to ensure financial transactions are possible.