UK

JC Flowers sold the last of its stake in OneSavings Bank, the UK challenger bank, via a £95m accelerated bookbuild on Tuesday night.

Two US senators have scolded the European Commission's efforts to unilaterally change agreed rules for the oversight of foreign clearing houses in the wake of Brexit, backing the toughening position of Commodity Futures Trading Commission chairman Christopher Giancarlo.

Investcorp has hired Phil Yeates as managing director and head of European credit funds, after he had spent 24 years at Rothschild.

Chief executive of the International Swaps and Derivatives Association (ISDA) Scott O’Malia on Monday said that the trade body was preparing French and Irish law governed ISDA master agreements to be “ready for all eventualities” in the wake of Brexit.

A former interest rate derivatives trader at Royal Bank of Scotland, Neil Danziger, was fined £250,000 by the Financial Conduct Authority on Monday for allegedly trying to manipulate Libor.

Surprisingly, given the strength of the corporate bond market, no euro mandates or roadshows were announced on Monday other than Vonovia's €1bn deal, which was completed intraday. However, the sterling market has finally flickered into life.

Barclays and Lloyds were marketing new senior offerings from their holding companies on Monday, having each already printed two transactions in the first week of 2018.

The poll is open for GlobalCapital’s Equity Capital Markets Awards for 2017 and we invite market participants to have their say on the best performers of last year.

HM Treasury has appointed Charles Randell as the chair of the UK's Financial Conduct Authority and chair of the Payments Systems Regulator.

Arif Hussein, a former rates trader involved in the Libor rigging scandal at UBS, faced the Upper Tribunal this week to argue against his ban from working in the City, saying he had just been following orders. Following the UK’s introduction of the Senior Managers Regime in 2016, any similar scandal would play out very differently today.

The sterling covered bond market enjoyed a strong start to the year, with four issuers raising a collective £3.7bn. Barclays priced the first deal of the year, which also happened to be one of the longest and largest.

LBBW, Santander UK and Westpac all enjoyed fair demand for seven year covered bonds issued this week, suggesting good scope for further issuance in this tenor.