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Financial Services
Editor's Picks
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Beverly Hills mansion bought with proceeds of Iraq corruption scheme, US alleges
The US Justice Department is seeking to seize a mansion in Beverly Hills, California, allegedly purchased and renovated with about $30 million in proceeds stemming ... (more story)
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Huawei racketeering trial delayed to September after US unseals trimmed-down case
A US judge delayed to September the racketeering, sanctions violations and trade-secret theft trial of Chinese networking equipment giant Huawei Technologies, days ... (more story)
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US House panel approves bill narrowing the Corporate Transparency Act
A US House of Representatives committee approved legislation that would deeply narrow the scope of an anti-money laundering law that required the beneficial owners ... (more story)
Insight View More
A group of UK car finance lenders involved in the £9.1 billion ($12.3 billion) misselling scandal has asked the country's appeal court to block car finance claims from being pursued against them through mass c... (more story)
Giant crypto-asset intermediaries such as Binance, Crypto.com and Bybit need comprehensive policy oversight and cross-border supervision to prevent disruptions from spilling into the broader financial system, ... (more story)
The UK government has further diluted its proposed powers over pension fund asset allocation, following pushback from lawmakers in Britain’s upper chamber. Pensions minister Torsten Bell said the latest propos... (more story)
A UK consumer group is set to bring the Financial Conduct Authority to court over its £9.1 billion car-finance redress plan, after claiming that drivers will be left undercompensated. The FCA set out in March ... (more story)
The UK government is moving ahead with plans to remove the Certification Regime from national financial regulations, amid concerns that it’s hindering economic growth. The finance ministry has said it will int... (more story)
The European Commission has suggested that EU finance ministers hold closed-door discussions on contentious market supervision reforms to enable frank political debate, MLex understands. While transparency rul... (more story)
Former Italian Prime Minister Enrico Letta has warned that fragmented financial, energy and digital systems are undermining the EU’s ability to innovate and compete globally. He urged deeper market integration... (more story)
The EU bank competitiveness report, set for July 15, is expected to assess cross-border banking barriers and the suitability of current prudential, supervisory, and crisis-management rules. The European Commis... (more story)
Comment View More
EU regulators and economists are pushing back against the banking sector's claims that looser US capital rules create unfair competition, arguing that the US Basel III framework remains stricter than Europe's.... (more story)
Ralf Seekatz, an EU lawmaker from the center-right European People’s Party, faces a tight deadline to secure support from several political groups for a revamped securitization framework ahead of a May 5 vote.... (more story)
The new chief of the European Banking Authority, François-Louis Michaud, is set to simplify banking oversight while addressing challenges from digital innovations and enhancing banking competitiveness. He emph... (more story)
Hungary’s new government under Péter Magyar is expected to reset relations with the EU, pursue judicial reforms to unlock frozen funds and dismantle key Orbán-era institutions. While maintaining some continuit... (more story)
Former Barclays executive Katharine Braddick takes the helm of the UK’s prudential regulator this July, ushering in a new five-year chapter after a decade under the leadership of Sam Woods. With a wealth of ex... (more story)
UK banks and other lenders digesting the repercussions of the £9.1 billion car finance compensation plan unveiled in final form by the financial watchdog this week will have an eye on the likelihood of a flurr... (more story)
EU countries' finance experts started two days of key talks on Monday on the EU market watchdog's new powers and distribution of roles with national authorities in a contentious package proposal for better int... (more story)
US plans to cut bank capital requirements are putting wind in the sails of European lenders pushing for looser EU rules. European banks are looking beyond amendments to Basel III market risk standards that are... (more story)