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Politically motivated prosecutions endanger democracy
Over the last week the US president has pushed to make homes and consumer credit more affordable but these policies risk unintended consequences
A junior banker respects their MD, but cannot live with his disorganisation. Can things ever improve?
Solutions exist but political will is necessary
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The Australian short seller, John Hempton of Bronte Capital, told investors that the profits his hedge fund Bronte Capital made on Wirecard’s collapse will not make up losses incurred during his lengthy short of the German payments company. It was an illustration, he said, of the dangers of betting against frauds and highlights the importance of risk management.
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The European Central Bank will begin supervising financial institutions in Bulgaria and Croatia from October 1, as the two countries prepare to join the euro. Firms entering the Banking Union for the first time will also fall under the Single Resolution Board’s remit for the minimum requirements for own funds and eligible liabilities (MREL). -
China’s securities regulator has banned GF Securities from sponsoring IPOs for six months and underwriting bonds for a year, punishing the firm for its role on a series of fundraisings for Kangmei Pharmaceutical Co.
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In this round-up, China once again vows to crack down on fraudulent behaviour in the financial market, credit data for June is stronger than expected, and the securities regulator makes updates on how it grades onshore brokerages.
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In this round-up, Credit Suisse is reportedly seeking a bigger share in its onshore securities joint venture, Weibo’s parent Sina Corp considers delisting from Nasdaq after two decades and the former head of China’s securities regulator said easier delistings would improve the stock market.
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The European Leveraged Finance Association has called for better transparency in high yield covenant packages, arguing that clarity is crucial for pricing risk. The call comes shortly after one of the largest covenant climb-downs in recent market history, when lead banks on ThyssenKrupp Elevator stripped many of the most controversial terms from the €8bn financing.
