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UK payments watchdog focusing on 'most serious' breaches of APP fraud rules February 06, 2025 | Phoebe Seers

The UK’s payments regulator today said it would only take enforcement action against the most serious and persistent breaches of its authorized push payment fraud reimbursement rules. The Payment Systems Regul... (more story)

EBA’s new mandate over initial margins models won’t start before 2026 February 06, 2025 | Jean Comte

Banks in the EU, investment firms and other clearing members will wait one year before they see the European Banking Authority start to apply its new powers on initial clearing margins. The EBA hopes to valida... (more story)

No compensation for Blackmore Bond victims, UK FCA says as it rejects complaints February 06, 2025 | Phoebe Seers

Concerns around collapsed mini-bond issuer Blackmore Bond were handled appropriately, the UK's the Financial Conduct Authority has said, and so it won’t compensate victims or open a criminal probe. Closing its... (more story)

EU wind-up body should alert complainants on data disclosures, EU court adviser says February 06, 2025 | Matthew Newman

The European Data Protection Supervisor's decision that the EU's banking crisis-management authority broke EU data protection rules by failing to disclose it had sent personal data to a consultancy should be u... (more story)

UK FCA's name and shame proposal 'misleading,' lawmakers conclude February 06, 2025 | Phoebe Seers

The UK financial services watchdog has yet to make a convincing case for its "name and shame" proposals that would see more companies that come under investigation named in public, lawmakers said today. In a d... (more story)

US Fed should ease capital rules for largest banks, Governor Bowman says February 05, 2025 | Neil Roland

Republican US Federal Reserve Governor Michelle Bowman, reportedly a candidate for the top regulatory post at the central bank, called for it to ease leverage and capital requirements for the largest banks to ... (more story)

Financial sector sees last-minute disagreements over EU’s definition of AI system February 05, 2025 | Luca Bertuzzi

The European Commission’s guidelines to clarify the definition of AI system under the EU AI Act have been delayed due to an internal dispute between commission departments concerning whether logistic regressio... (more story)

Mid-caps, investment simplification to be included in EU’s red tape-reduction strategy February 05, 2025 | Oscar Pandiello and Luca Bertuzzi

Two new “omnibus” proposals — focusing on mid-caps and on investment simplification — are expected to be presented by the European Commission in the second quarter of 2025. According to annexes from the commis... (more story)

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UK financial watchdog burdened with unrealistic expectations on economic growth February 06, 2025 | Phoebe Seers and Sofia Gerace

The UK's financial services watchdog is under relentless pressure to cut red tape and think of ways to lighten the regulatory burden to help grow the economy. But it's hampered by government unwillingness to s... (more story)

Lack of ambition in revamp of EU clearinghouse rules hands UK a bonus prize February 05, 2025 | Jean Comte

A three-year extension for UK-based clearinghouses to access the EU market triggered anger from EU lawmakers this week, lamenting what seems to be a lack of attention to the need to develop the EU's clearing m... (more story)

Success for EU’s T+1 shift requires focus, consensus, project chief Sabatini says January 29, 2025 | Sofia Gerace and Jean Comte

Giovanni Sabatini, a veteran Italian finance expert chosen recently to lead the EU industry committee tasked with driving the switch to one-day securities trade settlement, has hit the ground running. Finding ... (more story)

UK payments regulator’s growth promises aren’t likely to move critics January 29, 2025 | Phoebe Seers

The UK's financial services regulators are finding themselves in the government's firing line. Finance Minister Rachel Reeves has been clear that she expects a new approach from them in light of the government... (more story)

Tweaks to EU's distributed-ledger trading trial could build needed momentum January 27, 2025 | Sofia Gerace

The EU pilot regime to allow financial market participants to experiment with the use of distributed ledger technology is intended to spur innovation in the bloc, but its uptake has been low so far. In almost ... (more story)

Trump opens the gates for crypto deregulation with series of measures January 24, 2025 | Neil Roland

The US Securities and Exchange Commission's rescission of an accounting bulletin capped a series of victories for cryptocurrency deregulation this week and set up the potential for further reduction in the ove... (more story)

New contender for EU asset-management champion emerges January 24, 2025 | Jean Comte

The plan that BPCE and Generali unveiled this week for a major asset-management joint venture adds a new effort to build a European champion in a market largely dominated by US players, joining the existing bi... (more story)

ECB’s ‘Danish compromise’ decision for Banco BPM-Anima is pivotal for other deals January 22, 2025 | Jean Comte

The European Central Bank's arm for banking supervision is currently assessing whether Banco BPM will be allowed to apply a specific prudential treatment to asset manager Anima, should it succeed in buying it.... (more story)