Latest regulation news

• The SREP has an important role to play in dealing with money laundering

  Europe already has a powerful tool to deal with banks that fail to show they have the proper risk controls in place — it’s called the supervisory review and evaluation process.

  • 18 Sep 2018

• Nasdaq replenishes default fund after taking €107m hit

  

  Nasdaq Clearing said early on Monday that it had replenished 90% of its member default fund, adding it had “no indication” that a member would shirk on its commitments. The deadline for replenishment is on Monday.

  • 17 Sep 2018

• Heat builds in US middle market as regulators loosen restraints

  

  Billions of dollars are flowing into direct lending funds targeting US corporate loans to small and medium sized companies, despite signs of weakening underwriting. Unshackling leverage constraints on business development companies and reopening the CLO market to them after a two year absence may further overheat the market, say critics.

  • 13 Sep 2018

• Brazilian banks almost at covered bond starting line

  

  As the market waits for Brazilian banks to launch the first covered bonds out of the country, market participants from the country say it provides the lenders with a useful new instrument. But whether they can reach investment grade status in euros or dollars depends on currency risk mitigation, according to a Moody’s official.

  • 13 Sep 2018

• Covered bond asset eligibility is the ‘mother of all discussions’

  

  Negotiations between the European Parliament, the European Commission and the covered bond industry around asset eligibility are like trying to “put a square peg in a round hole” and have proved to be the “mother of all discussions”, said key representatives of the two organisations at the European Covered Bond Council’s (ECBC) 28th Plenary Meeting in Munich on Wednesday.

  • 12 Sep 2018

• German minister urges capital market progress

  

  Jörg Kukies, secretary of state at the German Ministry of Finance, suggested that the EU’s proposed covered bond directive should not dilute the quality of the product too much. He also wanted to see developments on the Capital Market Union (CMU) by the end of the year and called for an agreement on third-country central counterparties (CCPs).

  • 12 Sep 2018

• Aon tasks team with resolving protection gap

  

  Seventeen years ago, the 9/11 attacks were a black swan event for financial markets and the broader economy. Now, insurance firm Aon is examining terrorism risk as part of a wider aim to close insurance protection gaps and transfer risk to the capital markets.

  • 12 Sep 2018

• AMF warns investors on restricted retail derivatives

  

  Autorité des Marchés Financiers, the French markets regulator, has reemphasised the importance of a Europe-wide ban on binary options and restriction on contracts for difference.

  • 11 Sep 2018

• EACH and FIA add to discontent on lev ratio

  

  More finance and derivatives industry groups this week came out against the leverage ratio and its impact on client clearing, backing the findings of an August report by global watchdogs. In a joint paper, trade bodies including the FIA also expressed concern over Brexit and its potential impact on client clearing.

  • 11 Sep 2018

• Equivalence won't do for Brexit, say banks

  

  Three executives from global bulge bracket banks have called for more supervisory cooperation over Brexit, particularly on the side of the EU. All three expressed hopes for a Brexit deal that was more bespoke than just third country equivalence.

  • 11 Sep 2018

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