Latest articles from Justin Pugsley

SEC braces for change of leadership and approach

Hester Peirce, a Republican commissioner at the Securities and Exchange Commission (SEC) paid tribute to the agency’s former chair, Jay Clayton, an independent, praising his handling of market volatility triggered by the Covid-19 pandemic and his style of leadership. 

IOSCO supports setting up board to promote sustainability in capital markets

Establishing a Sustainability Standards Board (SSB) has won the support of the International Organization of Securities Commissions (IOSCO) to help promote consistency and comparability across capital markets and to reduce the risk of fragmentation around sustainability disclosures.

AMF/AFM propose EU ESG framework

A joint framework proposed by market regulators in France and the Netherlands, aimed at greening the EU economy, could become a core part of the European Commission’s sustainable finance strategy.

AXA warns UK money market funds are at risk from negative rates

The UK’s £47bn ($64bn) money market fund sector could be at risk should the Bank of England pursue negative interest rates, according to AXA Investment Managers.

European banks are robust, but EBA warns over deterioration in assets

The European Banking Authority is concerned about the quality and structurally low profitability of European banks’ assets, despite their solid capital and liquidity positions.

NYSE delists three Chinese companies following Republican criticism

The New York Stock Exchange (NYSE) reversed a decision not to delist three Chinese telecoms companies following pressure from the US Department of the Treasury. 

Fed gives US banks greenlight to resume share buybacks

The most profitable US banks have been given the green light by the US Federal Reserve to resume share buybacks this year following a six-month ban relating to the economic effects of the Covid-19 pandemic.

OCC criticised over climate change stance

A formal comment was submitted to the Office of the Comptroller of the Currency (OCC) by Ceres, claiming the agency is fundamentally misrepresenting climate risk management, and warned that it could endanger the country’s banking system and economy. 

European open-ended funds showed resilience during March market volatility

Open-ended type funds in Europe did a good job managing the market turmoil caused by the Covid-19 pandemic in March 2020

ISDA calls for better calibration on clearing house margins

Although the International Swaps and Derivatives Association has praised clearing houses for withstanding the extreme pandemic-induced market volatility, it is concerned about the significant increase in initial margin seen last year