Financial Regulation >>>
The European Parliament will next month reconvene and resume its “trialogue” on the EU Markets in Financial Instruments Directive (MiFID) with the European Council and the European Commission. Significant differences between the versions agreed by the bodies must be reconciled before the new regime is implemented. Uniform rules may not go into effect until 2015 or 2016. To read [...]
The U.S. Department of Justice and the Federal Deposit Insurance Corp. are pressuring banks to cut ties to online lenders whom regulators suspect of shady business practices, as part of a broad crackdown on frauds in the payment system, according to five people briefed on their work. To read more, click here.
Last week’s Dodd-Frank three-year outlook webinar, featuring Bloomberg Government’s Cady North, reviewed the status of the rulemakings so far and found that financial regulators are about 60 percent of the way through the major actions, according to North. Click here to continue reading.
U.S. investigators have uncovered evidence that banks reaped millions of dollars in trading profits at the expense of companies and pension funds by manipulating a benchmark for interest-rate derivatives. Click here to continue reading.
American International Group Inc. and Allianz SE are among insurers deemed systemically important by global financial rule makers, meaning they may face tougher capital standards and tighter regulation. To read more, click here.
Global regulators said they are weighing steps to ensure that banks take a realistic view of the possible losses on their investments, after uncovering variations in how lenders assess risk. To read more, click here.
U.S. regulators are considering doubling a minimum capital requirement for the largest banks, which could force some of them to halt dividend payments. Click here to continue reading.
Global regulators may start overseeing currency rates in a widening response to benchmark-rate setting scandals that began with revelations on the manipulation of Libor, according to two people familiar with the matter. Click here to continue reading.
HSBC Holdings Plc is adjusting its strategy to reduce the chance of future compliance failures following major U.S. regulatory and law enforcement investigations of the London-based bank, according to Chairman Douglas Flint. Click here to continue reading.
Sweden’s financial regulator rejected government and central bank calls to raise risk weights on mortgage assets above the 15 percent already agreed on in the latest clash between policy makers and the watchdog. Click here to continue reading.