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BankingTime is ticking: How can financial institutions ensure compliance with the FCA’s new operational resilience regulations?
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Top StoriesUK watchdog to reclaim powers to ban auditors
Top StoriesHDFC bank’s $40 billion deal may face regulatory hurdles due to insurance ops – analysts
Britain’s finance ministry flags reforms, defends regulators
Date: March 31, 2022
By Huw Jones and Carolyn Cohn LONDON (Reuters) – Britain’s finance ministry flagged several reforms on Thursday and defended regulators from criticism they are too slow to license firms, saying flawed applicants must not get through. The ministry and regulators face pressure to make financial rules more flexible to keep London globally competitive after Britain’s...
Germany approves law mandating full gas storage before winter
Date: March 25, 2022
By Vera Eckert and Markus Wacket BERLIN (Reuters) – The Bundestag lower house on Friday approved legislation requiring Germany’s privately-operated gas storage facilities to be full at the start of the next winter, to try to avert shortages in the event of a halt in Russian gas imports. The law requires facilities to be 65%...
Bank of England sketches out regulatory approach to crypto
Date: March 24, 2022
By Huw Jones and David Milliken LONDON (Reuters) – The Bank of England on Thursday began sketching out Britain’s first regulatory framework for cryptoassets, saying that although the sector remained small, its rapid growth could pose risks to financial stability in future if left unregulated. Cryptoassets have come under the regulatory spotlight amid concerns they...
EU proposes cybersecurity rules for EU bodies amid cyberattack worries
Date: March 22, 2022
By Foo Yun Chee BRUSSELS (Reuters) – EU countries should put in place a framework to manage cybersecurity risks at EU institutions, the European Commission said on Tuesday, amid concerns about rising cyberattacks that could disrupt key activities and steal sensitive information. The proposal is part of a package of draft rules by the EU...
Analysis-China eastern faces more losses, regulatory scrutiny after plane crash
Date: March 22, 2022
By Brenda Goh and Stella Qiu SHANGHAI (Reuters) – China Eastern Airlines faces deepening losses and closer regulatory scrutiny following the crash of a Boeing 737-800 jet on Monday with 132 people on board. Rescuers on Tuesday scoured heavily forested slopes for survivors and data recorders from flight MU5735, which crashed a day earlier in...
EU investment funds need overhaul to exploit single market, says report
Date: February 22, 2022
By Huw Jones LONDON (Reuters) -The European Union’s 19 trillion euro ($21.6 trillion)investment funds industry is failing to exploit the bloc’s single market, saddling investors with high costs and opaque selling practices, the European Court of Auditors said in a critical report on Monday. A full review of EU investment fund rules is needed by...