News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Register for free
Receive the CW newsletter and access CPE webcasts.
- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2023-03-30T14:40:00
Except for Credit Suisse’s demise, Europe has so far largely patted itself on the back for preventing further contagion in the banking sector following the failures of Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank in the United States.
While European banking stocks have wobbled in the aftermath of the crisis—with Germany’s Deutsche Bank taking the brunt last weekend—there has mostly been praise for the strength of Europe and the United Kingdom’s financial services regulatory frameworks, as well as for the rapid, concerted, and decisive action taken to contain any further disaster.
“This was perhaps an unexpected ‘stress test’ for the market but one which may potentially serve to benefit the sector’s confidence,” said Daniel Seely, crypto expert and financial regulatory associate at law firm Freeths. Seely also praised the U.K. government’s flexibility—alongside the Bank of England and Financial Conduct Authority—to allow HSBC to quickly acquire SVB’s U.K. arm, thereby preventing a taxpayer-funded bailout.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Register for free
Receive the CW newsletter and access CPE webcasts.
2023-05-31T17:00:00Z By Jeff Dale
Businesses can be well prepared to manage a crisis by having continuity among stakeholders and avoiding leakage of privileged information to prevent conflict, a panel of legal and compliance experts shared at Compliance Week’s 2023 National Conference.
2023-04-12T14:55:00Z By Neil Hodge
The details of the Prudential Regulation Authority’s case against Wyelands Bank and the business coming from the group of companies that owned it raise questions about the risks such exposure causes to financial institutions, their customers, and the sector at large.
2023-04-06T15:50:00Z By Kyle Brasseur
Senior leadership at UBS acknowledged the significant work ahead of Switzerland’s largest bank as it begins preparing to absorb the country’s second-largest bank, Credit Suisse.
2024-07-24T17:54:00Z By Neil Hodge
A lack of risk visibility is causing companies to reject customers–and potentially lose money–over fears they might be in danger of violating rules around anti-money laundering and sanctions regulations.
2024-07-15T16:45:00Z By Jeff Dale
The Treasury Department’s Financial Crimes Enforcement Network updated an alert first issued in February warning financial institutions of Israeli extremists fomenting violence in the West Bank.
2024-06-28T19:30:00Z By Jeff Dale
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
Site powered by Webvision Cloud