Latest articles from Justin Pugsley

Moves to change interest rate benchmarks trigger contract concerns

November 27, 2017

Regulators 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, 2017

Disparate 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, 2017

The 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.

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Looking ahead: where now for the Basel Committee?

September 1, 2017

The 10th anniversary of the financial crisis recently thrust the Basel Committee on Banking Supervision into the spotlight, but the next 10 years are likely to pose very different challenges for the institution. Justin Pugsley reports.

UK extends conduct reforms to smaller firms

August 28, 2017

The 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, 2017

The 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, 2017

Some 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.

Brexit sparks race to the bottom among London’s rivals

May 29, 2017

Some EU financial centres have been accused of bidding too aggressively to host financial firms relocating from London, revealing flaws in the EU’s regulatory architecture that its authorities are seeking to fix. By Justin Pugsley.

ECB pushes case for internal models

April 26, 2017

The European Central Bank is undertaking a major project to ensure the internal models used by eurozone banks work properly. A useful spin-off could be to tackle the Basel Committee on Banking Supervision’s scepticism over their use, as Justin Pugsley reports.

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Will regtech’s deepening role spark greater regulatory scrutiny?

April 20, 2017

Regulators are likely to take a deeper interest in regulatory technology as it takes on more critical tasks and deepens its role within banks, reports Justin Pugsley. 

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