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20 November 2015

Finance on Friday - 20th November

This week's chat covered five broad areas: G20, the UK's Treasure Select Committee Chair Andrew Tyrie on post-crisis regulations, new ICMA's study on the repo market, updated European rules on electronic payments services and new rules piling pressure on fund managers to disclosure hidden fees.

Graham Bishop and Nick Crosby of Cambre Associates talk about five broad areas:

  • The UK's Treasure Select Committee Chair Andrew Tyrie gave a speech at The City in which he endorsed ring-fencing reforms and told regulators "not to give in to special pleading from banks".
  • On the G20 Leaders Summit that took place in Antalya, the BCBS produced two reports highlighting the Post-crisis reforms and updating the implementation of Basel III standards. The FSB welcomed the extension of the industry initiative to promote orderly cross-border resolution of G-SIBs, and also issued a report on transforming shadow banking into resilient market-based finance. AFME and ICMA welcomed G20 Infrastructure recommendations.
  • ICMA launched a new study that explains how the repo market in Europe is changing in response to regulatory pressures. 
  • Electronic payments: the European Council adopted updated rules, which is big new for electronic retail payment systems.
  • The Financial Times published a new chapter of a long-running controversy about asset managers passing expenses on to clients without disclosing them upfront. The article reveals that new draft European rules are piling pressure on fund managers to disclosure the hidden fees that can seriously affect individuals’ retirement pots. 


© Graham Bishop

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