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Proposed 10% limit on interest would strip out most of securitizations' excess spread
Implementation necessary after wide-ranging changes last year
It is not enough to just undo some of the European Commission’s more controversial proposals
Despite a tepid response in a 2024 consultation, there are signs EU authorities are laying the groundwork
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Commodity derivatives trades are primed for a fillip from European regulators as the European Commission plans to relax position limits on their trading. -
In a world first this week, 23-year-old student and Australian retail government bond investor Katta O’Donnell filed a legal challenge against the sovereign on Wednesday, claiming that the government does not do enough to disclose the risks of climate change to investors. If successful, the case could change issuers’ obligations regarding climate risk disclosure.
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Reform of the US government sponsored enterprises (GSEs) has always been considered a necessary precursor to establishing a US covered bond legal framework. But with the Covid-19 crisis and November’s presidential elections diverting attention, dollar covered bond issuance will remain dominated by foreign banks, with near term supply prospects likely to be determined by the cross-currency basis swap.
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Reports that the European Central Bank (ECB) could ask banks to suspend dividend payments until the end of 2020 sent subordinated debt higher and stocks lower this week.
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Central counterparty clearing houses (CCPs) could face increased attention and greater regulation after coming through the Covid-19 crisis in good shape, Fitch Ratings analysts said this week.
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Several companies boasting Big Four accounting firms as auditors have emerged as fraudulent, leading many to wonder what value auditors bring to an investors' understanding of a company. The big issue is that auditors have little obligation to detect fraud at companies they audit, and neither it seems does anyone else. Until they do, investors need to stop believing a Big Four sign-off is a seal of approval. In fact, for a system supposedly built with its own reputation in mind, developed markets have offered investors very little protection.
