Brexit

The head of the foremost derivatives regulator in the US, Christopher Giancarlo, has issued a warning to European regulators on incoming regulation, condemning “costs and regulatory burdens” to the US economy.

EU regulators vowed to push ahead with an EU27 version of the 'Capital Markets Union' as they look at life after Brexit.

In December, the European Commission will propose that large investment firms conducting “bank-like activities” will be considered credit institutions, and therefore supervised by the European Central Bank’s Single Supervisory Mechanism (SSM). This move would close a major loophole that was expected to be used by capital markets firms relocating London-based markets activities to the EU27 after Brexit.

Debate on the location of euro clearing flared up again this week as the Bank of England warned of “substantial risk of disruption” for the activity, while the European Commission gave its blessing to more powers for the European Central Bank over central counterparties (CCPs).

Applications to be the post-Brexit home of the European Banking Authority (EBA) are in and the European Commission (EC) has published a summary of what each country offered, and how it will choose between them.

A prominent UK lawyer clashed with a senior European commissioner at a conference this week after saying there was a ‘work-around’ for Brexit.

Mitsubishi UFJ Financial Group (MUFG) has set up a subsidiary in Amsterdam, giving it an option for its securities business once the UK leaves the EU.

Brexit talks about Britain’s place in the European Investment Bank (EIB) failed to move forward this week, and called into question the status of many UK loan applications that remain on hold.

The International Swaps and Derivatives Association (ISDA) on Monday spoke up against a potential location policy for central counterparties (CCPs) after Brexit, saying that constraining euro derivatives trades' clearing to the EU 27 would increase price volatility, execution costs and systemic risk.

Boutique investment bank SC Lowy is seeking to acquire a small European banking business in what would mark the firm’s second acquisition of a bank since it was launched in 2009.

There’s plenty of arguing about Brexit, but in finance, euro clearing stands out as a particularly bitter regulatory fight. At issue is London’s place as the host of euro trading — and it’s going to go down to the wire.

Deutsche Bank and Land Securities confirmed on Tuesday that Deutsche had agreed a 25 year pre-lease at 21 Moorfields, a new building going up over the Crossrail station at Moorgate in London.