Stress testing regimes have come a long way since the 2007-9 global financial crisis, however, they are still evolving with regulators on both sides of the Atlantic signalling potential changes
Brexit could set tone for cross-border regulatory arrangements
Any EU/UK deal on financial services could significantly influence how other jurisdictions recognise third country financial services providers. By Justin Pugsley.
Dubai accepts seven fintechs to apply for innovation testing licence
The DFSA has given seven fintech firms the go ahead to apply for an innovation testing licence in Dubai to further develop their solutions.
Hundreds of firms at risk of non-compliance over CSDR requirements
A regulatory consultancy has found that most firms conducting internalised securities transactions covered by CSDR are unaware that its reporting requirements apply to them.
PBoC cuts bank reserve ratio by 1%
PBoC cuts reserve requirements by 1% for banks to help sustain domestic economy and to ensure sufficient liquidity for the Chinese New Year celebrations.
ECB places Italy’s Banca Carige into temporary administration
ECB places small Italian bank into temporary administration after it fails to gain shareholder support for a recapitalisation.
US banks up to market volatility; CAMELS under review
Two US regulators have said that US banks can withstand market volatility, while one of them confirmed that CAMELS is to be reviewed.
Open banking rules hand edge to tech giants over banks
The EU’s Open Banking regime has handed an advantage to the big tech firms seeking to enter the financial services market, according to a survey published by digital bank, Pepper
EU to significantly toughen oversight of investment firms
The European Council has decided that larger investment firms will be subject to greater regulatory requirements while those based in third countries and operating in the EU will see more intrusive oversight from the Union
ESAs looking at appropriate steps for promoting common EU approach towards fintech
The rapid growth in initiatives across the EU designed to foster fintech has prompted the three European Supervisory Authorities to release a paper on best practices and also to signal that they are considering coming up with a common EU approach to the sector
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