The US Department of the Treasury released a report on February 21 detailing suggested reforms to US bank resolution mechanisms, but the recommendations were more notable for what they do not want to change than what they want to amend. By Justin Pugsley.
Examining the banking regulations that make you mad
Is a piece of banking regulation making you incandescent with Reg Rage? Email your suggestions for the next Reg rage to farah.khalique@ft.com
Auditor questions ECB’s framework for identifying failing banks
February 21, 2018Auditors claim the European Central Bank has a number of flaws in the way it identifies banks that are failing or likely to fail. Although these are unlikely to seriously hinder a resolution, there are questions to be answered. By Justin Pugsley.
MiFID II’s soft launch leaves loose ends
January 23, 2018MiFID II has been one of the most hotly anticipated pieces of European financial regulation. Its launch in January did not disrupt markets, but questions linger over whether it will meet its objectives. Justin Pugsley reports.
Basel IV’s done – now comes the hard part
December 18, 2017The Basel Committee negotiators finally got there. The so-called Basel IV framework has been agreed and is not as harsh as many bankers had feared, but now comes an even harder part: implementing it consistently across the world. By Justin Pugsley.
Moves to change interest rate benchmarks trigger contract concerns
November 27, 2017Regulators are working to change the interest rate benchmarks, which underpin many of the world’s derivatives and structured finance products. But doing so could result in legal issues with longer dated contracts. By Justin Pugsley.
Data protection rules set to clash with MiFID
October 30, 2017Disparate regulatory frameworks clashing is nothing new, but the EU’s General Data Protection Regulation, which was not drafted specifically with banks in mind, is going to clash with other frameworks such as MiFID II, writes Justin Pugsley.
Office of the Comptroller of the Currency wades in on the Volcker Rule
September 25, 2017The largely unpopular Volcker Rule in the US, designed to restrict proprietary trading by banks, is up for review, with the Office of the Comptroller of the Currency taking the lead in what could result in regulatory relief for the banking sector. By Justin Pugsley.
UK extends conduct reforms to smaller firms
August 28, 2017The UK is proposing to extend its senior managers and certification regime to another 46,000 or so firms, which is both good and bad news for firms, but if nothing else it should improve standards of conduct. By Justin Pugsley.
Bringing ethics and transparency to the FX markets
July 24, 2017The world’s leading central banks have decided to raise integrity and transparency levels in the vast foreign exchange markets with a new code of conduct. And given the current mood music around market conduct, it probably has a good chance of being adhered to despite its voluntary nature. By Justin Pugsley
US Treasury plots Dodd-Frank reforms
July 3, 2017Some policy experts were pleasantly surprised with the US Treasury’s proposals to reform Dodd-Frank, considering them to be thoughtful, and are billing them as a likely road map for the future of the US financial system. By Justin Pugsley.