Regulators in the U.S. and Europe signed an agreement Monday enabling both authorities to swap information on clearing counterparties in their respective jurisdictions, adding more supervision to a key link in global derivatives markets.
Shadow banking firms that are exempt from some of the tougher European Union derivatives regulations could be tempted to carry risky levels of debt, the European Central Bank’s vice president said Monday, the latest regulator to call for stiffer regulation of the sector.
The Financial Reporting Council, responsible for overseeing the U.K.’s accountants, is investigating whether KPMG violated ethical standards when offering additional services to a major British fashion retailer, the authority said Monday.
The European Commission on Friday advanced planning for a common EU regulatory framework for personal pensions, aimed at generating a market to relieve strains placed on state pension plans by an aging population.
The European Union’s lawmakers will vote June 8 on whether to form an inquiry committee to look into the so-called Panama Papers, which revealed a vast global network of offshore investment companies, after the proposal received unanimous backing from their governing body.
Banks looking to sell instruments that can be easily written off in times of financial stress, otherwise known as "bail in" products, need to be sure investors fully understand the risky nature of such securities, the European Securities and Markets Authority said on Thursday.
The European Union’s executive rule-makers on Thursday moved toward knocking down barriers to cross-border trade in investment funds inside the EU, aiming to make the €13 trillion market a cornerstone of the region’s aim to forge a Capital Markets Union.
The FCA and the Bank of England need to tightly regulate the billion-dollar peer-to-peer lending and crowdfunding markets due to inherent risks they pose to consumers and investors, a senior British lawmaker argued in a pair of letters Wednesday.
European Union regulators need to catch up with the rapid rise of blockchain technology in financial markets amid concerns over governance gaps and cybersecurity risks, the EU’s top securities watchdog said Thursday.
Using a capital-based test to decide if a company trading commodity derivatives should be exempt from stringent financial market regulation has “significant drawbacks,” the European Securities and Markets Authority has said in response to calls to use the standard from the European Commission.
European regulators should not weaken banking rules to appease calls from the industry to go easier on smaller firms, a member of the European Central Bank's executive board said in a speech Wednesday.
Proposals to broaden incoming money laundering and terrorist financing laws to include bitcoin exchanges and prepaid cards have been delayed until July, the European Commission told Law360 on Tuesday.
The European Council has officially adopted a regulation that excuses commodity product dealers from stiff capital requirements rules until 2020 after an overdue report on appropriate industry rules left firms facing legislative uncertainty.
The U.K. legal sector is under scrutiny over its ability to protect itself from money laundering and terrorist financing risks, according to a new HM Treasury report, reflecting a growing national anti-corruption agenda in the wake of the Panama Papers scandal.
The European Central Bank wants to examine the sustainability of business models at European banks and their ability to sustain low profitability, ECB board member Ignazio Angeloni said Thursday.
The European Parliament on Thursday took a big step toward regulating virtual currencies like Bitcoin and backed the creation of a new task force to study the technology that could transform financial services.
The U.K.’s biggest banks will have to set aside additional capital for their retail banking arms starting in 2019 to help them absorb losses during a financial crisis, the Bank of England said Thursday.
The European Union’s push to stamp out corporate tax avoidance hit a roadblock Wednesday amid disagreement over how to stop multinationals from shifting profits across internal EU borders for better tax rates.
Shadow banking remains largely unregulated three years after the Financial Stability Board recommended a global policy framework to keep the sector in check, the FSB said in a report released Wednesday.
The U.K.’s Serious Fraud Office should increase its core funding and reduce its reliance on government cash injections for big cases, a model that prevents the agency from developing skills in-house, according to an independent executive agency report released Tuesday.