Europe’s top central bankers are sounding the alarm that now is not the time to go soft on bank regulation. At a gathering in Amsterdam, officials from the European Central Bank and the Bank of England pushed back on calls to cut red tape, warning that rolling back rules could sow the seeds of the next crisis, Reuters first reported.
The Malta Financial Services Authority (MFSA) has issued a pointed warning to financial institutions, urging boards and senior management to treat business resilience as a strategic imperative rather than a compliance formality. The directive, delivered in a Dear CEO Letter on October 3, follows a sector-wide Thematic Exercise that uncovered significant weaknesses in resilience planning, financial forecasting, and risk management.
Bank of England Governor Andrew Bailey has sounded a warning shot over efforts to roll back financial regulation in the name of boosting growth, cautioning that the risks of deregulation could lead to history repeating itself, according to a recent report.
It turns out broadband speed isn’t just about how fast your Netflix loads, it’s also about trust. Australia’s Federal Court has ordered Telstra to pay $11.6 million (AUD 18 million) after the telecom giant quietly shifted nearly 9,000 Belong customers onto lower upload speed plans without so much as a heads-up.
Chinese regulators have ordered S&P Global’s mainland credit ratings unit to “rectify” its business practices, marking the latest escalation in Beijing’s ongoing crackdown on the country’s credit ratings industry. The move, reported by the Financial Times, reflects mounting concerns over low fees, inconsistent ratings, and the prevalence of top-tier grades in China’s corporate bond market.
Greystar Real Estate Partners, the nation’s largest residential property manager, has agreed to a $50 million settlement to resolve allegations that it conspired with competitors to keep apartment rents artificially high using RealPage’s widely scrutinized pricing software. The settlement, filed in federal court in Nashville, forms the largest share of a wave of preliminary agreements now totaling more than $141 million, according to Reuters.
Velocity Clearing, LLC has agreed to pay a $1 million penalty and bring in an independent consultant after FINRA uncovered sweeping failures in how the firm monitored for manipulative trading. The New Jersey-based broker-dealer, which has been a FINRA member since 2003, signed a settlement through a Letter of Acceptance, Waiver, and Consent (AWC), avoiding a formal disciplinary hearing.