Latest regulation news

• EU eyes insurers’ money to support European equity

  

  The European Commission proposed earlier this month tweaking the capital requirements for insurance companies, through the creation of a new “long-term equity investments” class in the Solvency II regulation.

  • 11:00 AM

• People moves in brief

  Pitts-Tucker takes sole control of Nomura International IB — Hourican turns up at NewDay — NatWest hires RBC SSA banker

  • 07 Mar 2019

• CMU’s end-of-term report: could have done better

  

  As the end of the European Parliament and Commission mandates loom, EU institutions are in a rush to close deals on as many files under the capital markets union (CMU) as possible. But while everyone likes the idea of a CMU, no one is sure how to implement it.

  • 07 Mar 2019

• TSI seals STS status as deal pipeline builds

  

  The ‘simple, transparent and standardised’ framework for securitisations took another step forward this week when its first third-party verifier, True Sale International’s STS Verification International (SVI), was authorised by German regulator BaFin. Another verifier, Prime Collateralised Securities (PCS), is already working on deals as it awaits authorisation.

  • 07 Mar 2019

• Covered bond NSFR carve-out not expected

  

  The final text of the net stable funding ratio has improved slightly compared to earlier versions, but the covered bond industry’s hopes for equal treatment relative to senior unsecured debt has fallen on deaf ears. The Council of Europe is expected to adopt the regulation from mid-March before putting it to a parliamentary vote in April.

  • 07 Mar 2019

• Poland unveils capital markets strategy

  

  Poland has released a draft capital markets development strategy, that aims to improve corporate governance, including at state-controlled firms, and foster a savings culture.

  • 07 Mar 2019

• Fund sues BofA and NatWest over euro govvie ‘cartel’

  

  A US pension fund has filed a class action suit against two of the banks suspected by the European Commission of breaching EU competition law in their trading of European government bonds between 2007 and 2012.

  • 06 Mar 2019

• EU makes banks and funds report ESG risks

  

  Another piece of the jigsaw of greener financial markets was inserted on Tuesday last week, though hardly anyone noticed. Under the EU’s new Investment Firms Regulation, asset managers and investment banks will have to disclose their environmental, social and governance risks, including from stranded assets, and how they vote in shareholder meetings. The requirements are quite radical and amount to insisting that all firms practice ESG investing.

  • 06 Mar 2019

• Meet a new family: the K-factors for capital

  

  Amid the blizzard of legislation going through Brussels in the dying days of the present Commission and Parliament’s mandate, little attention was paid last week to the new rules governing how investment managers and investment banks are supervised. But they have big implications, including bringing investment banks such as Barclays and Goldman Sachs under the European Central Bank.

  • 06 Mar 2019

• LiFE after Brexit: BoE opens swap arrangement

  

  The Bank of England is rebooting a crisis-era tool for its banks. Firms will be able to use its liquidity facility in euros (LiFE) from next week, as central banks seek to avert a liquidity crunch in a no-deal Brexit scenario.

  • 05 Mar 2019

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