News analysis

  • France at the forefront

    21 December 2010

    New French banking regulation shows how the Group of 20’s new chair is setting an example for the rest of Europe

  • Client classification proves Mifid’s macro goals

    16 December 2010

    Subtle changes to Mifid rules on client classification prove the EC is taking a clear stance on regulation, and isn’t afraid to go beyond technical recommendations

  • EU and US derivatives standards must align

    08 December 2010

    While the EU and US have taken similar approaches to derivatives regulation, their technicial standards must align to avoid arbitrage

  • Swiss Prips paper proves regulatory convergence

    02 December 2010

    Finma‘s move to improve investor protection on structured products is an unusual one that proves regulatory convergence is increasing across Europe

  • Indonesian companies are ignoring Law 24

    25 November 2010

    Despite banks' worries over Indonesia’s Law 24, many local companies are ignoring the legislation and not translating documents into Bahasa

  • CFTC lowers ceiling on manipulation

    19 November 2010

    The Commodities Futures Trading Commission has expanded its definition of scienter (wilful wrongdoing) in its recent anti-manipulation regulation, meaning “recklessness” could now be regarded as intentional fraud

  • Germany expected to abandon retention rules

    11 November 2010

    The German government has pushed back gold-plated securitisation rules until 2015, but lawyers say they’re unlikely to ever be implemented

  • Dodd defends Tarp to broker-dealers

    09 November 2010

    Dodd told attendees at the annual Sifma conference they didn't appreciate what it took to get Tarp through Congress

  • Credit rating agencies disregard 17g-5

    08 November 2010

    US rating agencies aren’t using the SEC mandated information-sharing websites due to concerns about cost and liability

  • CRA Board could create moral hazard

    04 November 2010

    US regulators must decide if a Board to assign credit rating agencies to instrument would assign moral hazard to the government

  • Getting around the Franken Amendment

    04 November 2010

    If the SEC has not found an alternative within two years, it will have to create a board to assign CRAs to the financial instruments they rate

  • Asian funds must stay ahead of global reform

    01 November 2010

    Monitoring progress on regulatory change must be top of Asian institutions' priorities, insist Hong Kong lawyers

  • Directive could force out small funds

    22 October 2010

    The day-to-day impact of the AIFM Directive is being overlooked. It could force some smaller funds out of the market

  • Investor-comfort dominates return SME deal

    21 October 2010

    A short-dated loan pool and originator risk retention enabled UniCredit to place the first German small-and-medium sized enterprise (SME) backed securitisation since the financial crisis. But lauding the return of the country’s SME-backed market might be premature

  • Industry fears extension of exchange-trading rules

    01 October 2010

    Forcing OTC derivative trades onto regulated exchanges could be “the thin end of the wedge”, warned speakers at an industry conference in Zurich this week

  • AIFM Directive: Competing directives

    30 September 2010

    Belgium is determined to finalise the AIFM Directive during its EU Presidency. But will a speedy compromise result in fair access?

  • Gaps remain in EC short-selling rules

    22 September 2010

    Though the EC proposals to regulate short selling and CDS stretch to 43 pages, much technical detail still needs to be finalised. The industry must continue to engage to shape the final rules

  • Basel leaves lawyers waiting for G20, BofE

    17 September 2010

    Key detail covering grandfathering provisions and the treatment of structured instruments are still missing from the agreed Basel guidelines. Instead, lawyers are looking for guidance from the G20 and a Bank of England report.

  • Lawyers welcome reduced role for ESAs

    10 September 2010

    EU proposals that limit the role of the new European Supervisory Agencies have been welcomed. But lawmakers have been careful to leave scope for extra powers

  • FSA copies Volcker with trading book proposals

    06 September 2010

    Lord Turner’s agenda to limit proprietary trading has worked its way into the FSA proposed reforms to the trading book regime

  • UK: Don’t abolish the trading book

    06 September 2010

    Abolishing the trading book will not solve capitalisation problems, as proposed by the FSA in its discussion paper on the prudential regime for trading activities

  • Tier two proposals shake up Basel plans

    27 August 2010

    Lawyers are split on the Basel Committee's move to include tier two regulatory capital in its reforms, but agree that conversion triggers are a more pressing concern

  • Foreign banks covered by US capital rules

    05 August 2010

    Foreign banks in the US will now have the same capital requirements imposed on them as those applying to domestic bank holding companies

  • Basel leniency could harm UK banks

    29 July 2010

    The Basel Committee’s plans to relax liquidity restrictions will mean that the UK FSA's regime will be stricter, and could leave UK banks at a competitive disadvantage

  • Market dissects relaxed Basel guidelines

    29 July 2010

    Basel’s proposed relaxation of liquidity and capital guidelines is good news for banks. But regulators must still provide more clarity, and be careful not to water down their original intentions too much

  • Why in-house must talk to Europe

    07 July 2010

    European in-house must engage more with regulators to ensure their banks’ practices are fully understood, or risk supervision that is ineffective and restrictive