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Markets Insider (October 16)

2023/ 10/ 18 by jd in Global News

SEC Chair Gary Gensler “has warned that AI could trigger a financial crisis, as Wall Street rushes to adopt the new technology.” He is calling for “AI regulation that addresses both the underlying AI models built by tech companies and how they are used by Wall Street banks, describing it as a ‘cross-regulatory challenge.’”

 

Financial Times (March 15)

2023/ 03/ 16 by jd in Global News

Silicon Valley Bank “was conveniently non-significant in life, but became systemically significant in death.” Looking ahead, “regulation of systemically significant banks must be extended throughout the system.” We’re reached a point where “even in a modest crisis deposits cannot be sacrificed, and rules on haircuts for provision of liquidity will go out of the window.” Since they stand “at the heart of the credit system,” banks must be regulated as “wards of the state.”

 

Investment Week (March 28)

2022/ 03/ 30 by jd in Global News

Global dealmaking has dropped “to its lowest level since the start of the Covid-19 pandemic…. Just over $1trn of deals were struck in the first quarter of 2022, nearly a quarter less than the same period last year.” Primary factors behind slowing M&A activity appear to be “tougher regulations on both sides of the Atlantic, soaring inflation and Russia’s invasion of Ukraine.”

 

USA Today (March 21)

2022/ 03/ 23 by jd in Global News

“Groundbreaking federal regulation unveiled Monday could change how Americans – and American companies – think about climate change.” A proposed SEC rule would require listed “companies to disclose the risks they face from global warming. Much as homebuyers are protected by rules requiring a seller to disclose problems, the new SEC rule would allow investors to judge how well or poorly a company is prepared for the future costs of a warming planet.”

 

Investment Week (December 21)

2021/ 12/ 23 by jd in Global News

“The asset and wealth management industry is set to face a busy year of regulation, with the impact of recently passed legislation, including sustainability disclosure requirements and new listings rules, combining with that yet to come, such as long term asset funds. Past decisions will also bring change, as LIBOR also comes to an end this year, with very slim exception, while the spectre of Brexit is far from banished.”

 

The Economist (June 22)

2019/ 06/ 24 by jd in Global News

Already “one in five Americans calls Texas or California home.” The behemoths are now “the biggest, brashest, most important states in the union, each equally convinced that it is the future.” But their vision is “heading in opposite directions, creating an experiment that reveals whether America works better as a low-tax, low-regulation place” or a “high-tax, highly regulated one.” Given Washington dysfunction, “the results will determine what sort of country America becomes almost as much as the victor of the next presidential election will.”

 

Wall Street Journal (December 4)

2018/ 12/ 05 by jd in Global News

“A carbon tax is in theory a more efficient way than regulation to reduce carbon emissions. But after decades of global conferences, forests of reports, dire television documentaries, celebrity appeals, school-curriculum overhauls and media bludgeoning, voters don’t believe that climate change justifies policies that would raise their cost of living and hurt the economy.”

 

Investment Week (April 27)

2018/ 04/ 30 by jd in Global News

The European Union’s Packaged Retail and Insurance-based Investment Products (PRIIPS) regulation “is aimed at helping retail investors better understand and compare the key features, risks, rewards and costs of different products through a short Key Information Document (KID).” However, Andrew Bailey, the chief executive of the Financial Conduct Authority (FCA) “has expressed he is ‘concerned’ about the new PRIIPS legislation, highlighting literature requirements ‘are not providing useful context’ while there is evidence it is causing US funds to withdraw from Europe.”

 

New York Times (April 2)

2017/ 04/ 05 by jd in Global News

“The prospect of job creation and short-term returns has prompted several governments in Latin America to welcome mining companies and keep regulation to a minimum,” sometimes with disastrous consequences. “The surge in reckless mining operations has provoked anger and controversy throughout the region, and it was a driving force for a remarkable law passed Wednesday in El Salvador banning mining for gold and other metals in the tiny Central American nation.” This bold new ban is unlikely to inspire copycats, but it may “prompt other countries to consider more carefully the toll mining takes on vulnerable communities and the need for tighter regulations and stronger enforcement of environmental rules.”

 

Institutional Investor (March 20)

2017/ 03/ 21 by jd in Global News

“For years, asset management firms have benefited as the banking industry was dragged down by quantitative easing and increasing regulation. The one-two punch spurred a more than $100 billion divergence in revenues since 2011, with asset managers up $65 billion and wholesale banks down $45 billion at the end of 2016…. But now, with asset managers facing ‘intense’ pressure on fees and with economic policy shifting in favor of banks,” there are growing predictions for “a ‘reversal of fortunes’ for the two sectors.”

 

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