Towards the end of 2023, non-bank financial intermediaries ("NBFIs") accounted for approximately 41% of the EU’s total financial assets, against a figure for banks of 36%. This dominance and growth, together with the...more
RegFi kicks off 2024 by welcoming Greg Baer, President & CEO of the Bank Policy Institute (BPI). He shares his perspective on a broad range of topics affecting the banking sector, including the current regulatory landscape,...more
The Situation: The European Securities and Markets Authority ("ESMA") has fined several banks for negligently issuing credit ratings on a professional basis without obtaining the necessary authorization to be a credit rating...more
We covered the move by Exxon shareholders to push the company for greater climate-change accounting last week. Now we’re learning that the NY AG believes that Exxon’s been “misleading” its shareholders about the impact that...more
China’s infamous shadow banking industry—an $8.5 trillion marketplace that’s sprung up in reaction to the government’s “campaign against financial leverage”—is back and bigger than ever these days....more
The presidential election has opened the possibility of significant changes to the Dodd-Frank Act regime that has been implemented over the last six years. It remains to be seen what plans the incoming administration will...more
Financial Industry Developments - CFTC Division of Market Oversight Reminds Market Participants of the Upcoming Expiration of Certain No-Action Relief From the Ownership and Control Final Rule - On November 16,...more
In the aftermath of the financial crisis, the national and international response by legislators and regulators has been to substantially overhaul and increase financial regulation applicable to banks and other financial...more
The 2d Circuit has refused the DOJ’s motion for reconsideration of the panel’s May decision overturning a jury verdict and accompanying $1.27 billion fine against Bank of America over its “Hustle” mortgage generation program....more
This article considers the recent European Banking Authority Shadow Banking Guidelines (the “Guidelines”), seeks a definition of shadow banking and discusses some of the potential consequences of the Guidelines for...more
The trail-blazing and transcendent David Bowie died this weekend after an 18-month battle with cancer. Incredibly, his reach extended beyond music, cinema, holiday duets, fashion, and stage and into our world of finance, as...more
The European Banking Authority (“EBA”) has published the following documents in connection with the Capital Requirements Regulation (Regulation 575/2013) (“CRR”): Final guidelines on limits on exposures to shadow...more
The Financial Policy Committee (FPC) of the Bank of England (BoE) has recently published its latest Financial Stability Report (Report). The format of the Report is that the FPC assesses the outlook for financial stability by...more