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Financial Services
Editor's Picks
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Former coal executive approved intermediary’s invoices, US jury told
Former coal sales executive Charles Hunter Hobson signed off on every invoice submitted by the company’s agent in Egypt, even those that seemed unusual, Hobson's ex... (more story)
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South Korea's won crypto market 'highly concentrated' as Upbit holds sway, study finds
South Korea’s won-based crypto trading market has grown rapidly in recent years, but competition has narrowed sharply around a handful of exchanges led by Upbit, ac... (more story)
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US FTC’s Ferguson defends case-by-case noncompete enforcement
US Federal Trade Commission Chairman Andrew Ferguson Tuesday defended his agency’s departure from noncompete rulemaking efforts during the Biden administration in f... (more story)
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UK financial regulators on Tuesday proposed easing the country’s securitization regime, outlining plans to simplify due-diligence and transparency requirements in a bid to reduce compliance costs and revive market activity.
The former head of collapsed construction company Carillion has been fined £237,700 by the UK financial regulator after failing to alert the market about the company’s “serious” financial troubles. The firm ex... (more story)
The US Treasury Department has relaxed its rules on customer due diligence, telling financial institutions on Friday that they no longer must identify the beneficial owner of a legal entity at each new account opening.
The planned equity consolidated tape, a single feed of information on UK equity trading, will not resolve the rising cost of market data, a leading banking trade group has told the country's financial services... (more story)
US Securities and Exchange Commission Chair Paul Atkins said his new Public Company Accounting Oversight Board members will look into suspicions that China may be gaming a bilateral agreement that authorizes A... (more story)
US Securities and Exchange Commission Chair Paul Atkins said he has asked the White House to appoint two Democrats to fill the open seats at the agency, but “it takes two to tango.” The SEC has had a 3-0 Repub... (more story)
The European Commission’s President Ursula von der Leyen on Wednesday called for EU countries to agree to legal proposals by the end of the year, which would better integrate the bloc’s capital markets. If cou... (more story)
The UK has chosen Orion, HSBC’s blockchain platform, to handle the pilot issuance of digital bonds this year. The initiative aims to modernize UK sovereign debt issuance using distributed ledger technology.
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The UK's financial regulator is considering a new £10 million wealth threshold to allow high-net-worth individuals to forgo retail investor protections — a move that sparked industry and consumer debate. The f... (more story)
UK financial services’ adoption of AI is already benefitting from stress-testing techniques developed for assessing military uses of AI that can help the financial regulator understand what’s going on under th... (more story)
The issue of reviewing the EU bank capital framework will be raised by some member states during an informal meeting of EU leaders on competitiveness on Feb. 12 at a castle in eastern Belgium. These informal d... (more story)
Resilience, backed up by supervision, is the key to the European banking sector’s competitiveness, Patrick Montagner, a member of the European Central Bank supervisory board, has told MLex, hitting back agains... (more story)
Dassault Aviation will argue to EU judges on Tuesday that business aircraft were unlawfully excluded from the bloc’s green taxonomy. The case is significant in marking the first time a company has sought to ov... (more story)
The European Commission faces a challenging task weighing up the differing views of supervisors and banks on reforms to streamline the EU bank capital framework. They disagree on the impact of a bank's capital... (more story)
US Federal Trade Commission antitrust enforcers across the Biden and Trump administrations agree that employers’ pervasive use of unlawful restrictions on labor mobility are causing harm to workers, competitio... (more story)
A money laundering network that moved $39 million via withdrawals from automated teller machines in Colombia persisted for years at TD Bank in part because the lender didn’t identify the role its employees pla... (more story)