Prospectuses for the issuance of securities in the EU should contain streamlined risk factor disclosures, presented in an easy to analyse, concise and comprehensible format, according to final guidelines issued by the European Securities and Markets Authority (Esma).
CSRC and AMF sign cooperative agreement during state visit
During the state visit of China’s president XI Jinping to France, the Autorité des Marchés Financiers (AMF) signed an agreement to step up its cooperation with the China Securities Regulatory Commission (CSRC).
US needs high bar to activate counter cyclical buffer
The bar for activating the counter cyclical capital buffer (CCyB) would have to be a high one as the US capital framework is designed to sustain high levels of capital, said Randal Quarles, vice chair for supervision at the US Federal Reserve Board.
CFTC grants disclosure reliefs to encourage use of SEFs
The Commodity Futures Trading Commission (CFTC) has granted no-action relief around certain disclosures to facilitate prime brokers using swap execution facilities (SEFs).
Regulators pass resolution plans of 14 large domestic banks
The 2017 resolution plans submitted by 14 large domestic US banks did not reveal any deficiencies, according to US prudential regulators, and 2019 plans should only include material changes from their previous plans and updated financial statements.
European banks to be hardest hit by Basel rules forcing them to increase capital
Basel III/IV rules are set to hit European banks the hardest with many of them holding retail mortgages, corporate loans and will be subject to constraints on internal models, meaning they will have to increase their capital, said Moody’s Investors Service in a research note.
HKMA grants three virtual banking licences with more to follow
Virtual banking licences were granted to three firms on March 27 by The Hong Kong Monetary Authority (HKMA), with a further five under consideration.
Russia grants first banking licence in four years to Bank 131
The Central Bank of Russia has granted its first new banking licence in four years to Bank 131, which is focusing on providing financial services over the internet to the public and small businesses.
SFC fines four global banks for poor IPO due diligence
Four global banks were hit with fines around due diligence failures relating to three initial public offerings (IPOs), according to a series of statements released by the Hong Hong Securities and Futures Commission on March 14, signalling an increasingly tough stance on misconduct.
Corporate leveraged loans could face more rules after FSB investigation
Global supervisors have become increasingly twitchy over potential systemic risks with corporate leveraged loans being investigated as a possible catalyst to a future global financial crisis by the Financial Stability Board
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