Europe | Clutch Group

News & Insights

Regulators Continue to Underscore Culture

November 1st, 2016

Daily Issue Briefing Date:  Friday, October 21, 2016 Subject:  Regulators Continue to Underscore Culture Summary Analysis:  Echoing the sentiments of financial regulators in the United Kingdom, the Federal Reserve Bank of New York continues to emphasize the importance of good culture in banking. This week the regional Fed bank convened […]

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SWIFT to Enlist Regulators to Enhance Cybersecurity Requirements

September 12th, 2016

Recurring Theme:  Data Privacy & Security Summary Analysis:  SWIFT, Society for Worldwide Interbank Financial Telecommunications, reported on the onset of new hostile cyber attacks this summer against banks using SWIFT-enabled transactions.  The global provider of financial messaging sent a private letter to its clients warning, “customers’ environments have been compromised,” […]

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Global Banks Elevate Passporting Concerns Post-Brexit

September 12th, 2016

Summary Analysis:  With little progress made to flesh out the terms of Brexit in advance of formal negotiations, the banking community has begun to express concern. In particular, global banks have lobbied United Kingdom (UK) Prime Minister Theresa May to maintain financial passporting rights even after the completion of Brexit. […]

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UK Government “Stands Ready to Help” Banking Sector

September 12th, 2016

Summary Analysis:  United Kingdom Chancellor of the Exchequer Phillip Hammond convened a meeting with chairmen from several of the region’s top banks, including Lloyds, RBS, Standard Life, Santander Aviva, Barclays and HSBC, in an attempt to quell concerns about the impact of Brexit.  Hammond sought to reassure members of the […]

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A Tale of Three Speeches – Understanding the FCA’s Post-Brexit Strategy

August 18th, 2016

Clues to the FCA’s regulatory approach post-Brexit Since the Brexit vote there has been much debate over the future direction of financial services regulation in the UK.  Will the UK strike out on its own, shaping an independent, perhaps more bank-friendly, regulatory environment, or will it stay in harmony with […]

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MAR – the new market soundings regime

July 5th, 2016

In our first update on MAR we highlighted the broadening of the scope of the Market Abuse rules that come into force on 3 July 2016.  We focused on how the new regime significantly extends the prohibition on abusive activity, capturing new instruments and behaviours. Our second update focused on […]

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With UK Preoccupied, CFTC Steps Up to Monitor Commodities

June 29th, 2016

United States (US) regulators are concerned that the frenzy created by Brexit will absorb increasing attention from United Kingdom (UK) and European Union (EU) regulators, so much so that market oversight might suffer. On June 27, 2016, the Commodity Futures Trading Commission (CFTC) convened a meeting of the Market Risk […]

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Brexit – what does the stunning news of UK’s departure mean for Financial Services in the UK?

June 27th, 2016

The first thing is to say that nothing will happen immediately as there will be a minimum of two years of negotiation before withdrawal occurs. In the meantime, the UK’s financial services regulation will continue to operate within the framework set by the European regulatory bodies. Single Market To attempt […]

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European Banks Lose Billions in Value after Brexit Results

June 24th, 2016

European Banks Lose Billions in Value after Brexit Results Summary Analysis:  European banks are already experiencing the impacts of the United Kingdom’s (UK) referendum to leave the European Union (EU).  Global markets have been down since the results of yesterday’s vote were released, with the British Pound falling to the […]

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MAR – the new suspicious activity reporting regime

June 24th, 2016

In our last update on MAR we highlighted the broadening of the scope of the Market Abuse rules that come into force on 3 July 2016. We focused on how the new regime significantly extends the prohibition on abusive activity, capturing new instruments and behaviours. In this update, we analyse […]

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Industry Pushes Back Against New Basel Proposal

June 13th, 2016

Industry Pushes Back Against New Basel Proposal Theme:  Changing Regulatory Tide A coalition of industry stakeholders is ramping up opposition to a plan proposed by the Basel Committee on Banking Supervision to standardize financial institutions’ methods for assessing risk and exposure. The new model was proposed in March and would […]

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CFPB Follows in Footsteps of FCA on Payday Lending

June 7th, 2016

CFPB Follows in Footsteps of FCA on Payday Lending Subject:  Market Transparency Summary Analysis:  Yesterday, Thursday, June 2, 2016, the Consumer Financial Protection Bureau (CFPB) published much-anticipated proposed rules aimed at curbing predatory payday lending. The CFPB follows in the footsteps of the United Kingdom’s (UK) Financial Conduct Authority (FCA), […]

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Download the 2017 Regulatory Highlights Report

Trends in Financial Regulation, Supervision, and Enforcement

Clutch tracks 2017’s key global developments across the financial services industry to identify legislative issues, regulatory initiatives, supervisory priorities and enforcement trends in the midst of an evolving economic and political landscape.

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