22 July 2016

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UK establishes FinTech Bridge with South Korea

The FCA today published a statement today regarding the establishment of a FinTech Bridge with the Republic of Korea, which aims to support international expansion of UK and Korean FinTech firms. The new FinTech Bridge, an agreement that makes it easier for UK and the Republic of Korea to invest in FinTech, will help UK FinTech firms and …

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Bank of England consults on establishment of Enforcement Decision Making Committee

The Bank of England today published a consultation paper on the Establishment of the Enforcement Decision Making Committee – CP/EDMC2016. This consultation paper (CP) sets out the Bank of England (the Bank) and the PRA’s proposal for the establishment of a unified Enforcement Decision Making Committee (EDMC) to take decisions in respect of: (1) the PRA; (2) …

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EBA provides updates on non-performing loans in EU banking sector

The EBA today issued a report on recent trends in asset quality in the EU banking sector. The analysis is based on supervisory data on non-performing loans (NPLs) and forbearance (FBL) for over 160 EU banks. The report shows that despite improvements NPLs remain high, with associated implications for the economy and bank’s profitability. The …

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ESMA fines Fitch Ratings over €1m for breaches of the CRA Regulation and lack of sound internal controls

The European Securities and Markets Authority (ESMA) has fined Fitch Ratings Limited (Fitch) €1.38 million for a series of negligent breaches of the Credit Rating Agencies (CRA) Regulation. ESMA found certain senior analysts in Fitch transmitted nformation about upcoming rating actions on sovereign ratings to certain senior persons in a parent company of Fitch before …

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