Enhancing supervision

Andrew Naylor asks how will the FCA’s new regulatory model work in the real world?

Regulation, Financial Crime

Dark pools and the EU’s attempt to clean up the murky waters

Jon Gudmandsen explores dark pools by looking at the regulators’ approach to their management and raises questions concerning their effect on the efficiency of financial markets, and how MiFID II may address any concerns.

Financial Industry, Banking

Is international arbitration suitable for global financial disputes?

Leon Hurd considers the above question from the perspective of the banker assessing options for disputes arising out of the lending and financial products business

Financial Industry, Financial Crime

The use of anti-money laundering legislation to combat child trafficking in Nigeria

According to the United Nations Children’s Fund (UNICEF), ‘[t]he trafficking of children for the purpose of domestic service, prostitution and other forms of exploitative labour is a widespread phenomenon in Nigeria’.[1]

Regulation, Financial Industry

Bank State Aid under BRRD and SRM

Karel Lannoo reviews the main principles introduced by the Bank Recovery and Resolution Directive and the Single Resolution Mechanism, and their ongoing interaction with EU state aid rules.

Regulation, Europe

The EU Bank Resolution Recovery Directive – Some observations on the financing arrangements

John Raymond LaBrosse, Rodrigo Olivares-Caminal and Dalvinder Singh[1] provide some observations on financing arrangements within the the EU’s Bank Resolution Directive

Regulation, Europe

Reviewing the bank’s Product Approval and Review Process

Introduction - Recently the Joint Committee of the European Supervisory Authorities (ESAs) published the Joint Position on Manufacturers’ Product Oversight & Governance Processes, also well-known as the bank’s Product Approval and Review Process (PARP).[1]

Regulation, Banking

Indonesian Court revokes contract drawn up in English

The Indonesian Parliament (Dewan Perwakilan Rakyat) passed a bill regarding the country’s flag, language, national emblem, and anthem in 2009. It became Law No. 24 of 2009 on The Flag, the Language, the National Emblem, and the National Anthem (the ‘Law’ or ‘Law No. 24/2009’).

Policy, Guidance

MiFID II: Why, how and what now?

What is MiFID II? - When the original Markets in Financial Instruments Directive (MIFID) came into effect on 1 November 2007, policy makers were already planning to review this flagship European financial markets legislation. Fast forward nearly six and a half years and work on MiFID II is entering its final strait. In the intervening years, the financial crisis has given rise to extensive regulatory changes across the globe. MiFID II goes beyond the review foreseen in the original MiFID to address many of the significant weaknesses in firms’ and financial markets’ operations identified during the crisis.

Financial Instruments, Policy

To report or not to report – are Bribery Act prosecutions getting closer?

Previous articles in Financial Regulation International have looked at how the Bribery Act 2010 has developed, interpretations of the guidance made under it and firms’ fears for the first prosecution for the offence of failing to prevent bribery.

Policy, Financial Crime

The German retail investors protection act and the english retail distribution review: The early indicators for european investor protection

The German legislator presented a draft for the German Retail Investors Protection Act (the ‘Act’) in July 2014.

Financial Industry, Industry Reforms

Some ideas on bank size, structure and remuneration

The regulators and policy makers responsible for the design and implementation of the post-2008 agenda of financial reform are frequently questioned over the slowness and limitations of the process.

Financial Industry, Banking

The global financial crisis and mortgage fraud – The untold story

Dr Nicholas Ryder analyses the association between the 2008 global financial crisis and white collar crime, in particular, mortgage fraud

Financial Crime, Fraud

‘Why corruption is not legally defined?’

Introduction - This paper provides an insight into the challenges of dealing with corruption. The aim of this article is to highlight that there is no legal definition for corruption that can be identified in any United Nations (UN) Convention, European Union (EU) Treaty, Regulation or Directive or any legislation in the United Kingdom (UK) or United States (US). The origins and soft-law[1] definitions are explored and the notion of corruption solely being associated with public officials or public office is also considered.

Financial Crime

A balancing act – The Maltese investment services rules applicable to collective investment schemes authorised to invest through loans

Adrian Cutajar examines the Malta Financial Services Authority’s Investment Services Rules, including their regulatory relevance and the manner in which they address risks associated with specialised investment funds.

Financial Industry, Europe

Devising a national payment system in Russia

In March 2014, Russia had an opportunity to experience the consequences of the latest development in the AML/CFT regime. On 20th March, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated certain Russian and non-Russian citizens pursuant to Executive Order 13661.

Financial Industry, Rest of the World