Wall Street bankers tempted to pick a fight with the Federal Reserve should take a lesson from the insider trading plea deal by investor Joe Lewis.

Opposition to the proposed Basel III endgame for US banks is now so widespread that a climb down by the Federal Reserve is likely. Wall Street bankers like Jamie Dimon can stop crying wolf about increased capital requirements and think carefully about publicly threatening their regulators.

While the world’s biggest markets are still preparing for T+1 settlement, talk is growing of the next step – but going any faster would mean a total reworking of how markets function.

It is not hard to find short-term worries over global markets’ state of readiness for the US’s transition to one-day settlement in late May. But even if the UK, Europe and those Asian markets still using two-day settlement can adapt to the shift in the longer term, they will also face intense pressure to lessen their dislocation from the US cycle by copying its move. Many also fear the ultimate end-game of same-day or even instant settlement.

The Sino-Swiss corridor, set up to encourage Chinese firms to sell global depositary receipts to international investors in the European state, took off fast in 2022. But a host of challenges, from Chinese regulatory concerns to an apparent lack of global interest, has stalled its progress.

Appealing to issuers by removing investor protections makes no sense when London’s decline as a listing venue stems from domestic investors abandoning the UK market.

It has become fashionable to describe private credit as an opaque and fast inflating bubble that could bring crisis to the global financial system. But in Asia even banks and regulators hope it will grow to bridge the yawning financing gap.

Regulators are making more mileage out of their settlement with Morgan Stanley than the outcome really deserves.

Morgan Stanley has for years touted its expertise and adherence to confidentiality as reasons to choose it over rivals for equity block trades. But charges brought by regulators over leakages of confidential information by the bank’s former head of US equity syndicate and another employee now make its historic claims look embarrassing.

The London Stock Exchange Group’s head of sustainable finance strategic initiatives wants climate data to redefine the act of indexing.

The World Bank is issuing ‘outcomes’ bond structures for niche sustainability themes and with new financing mechanisms. Like blue bonds, they are probably going to need some rule-setting.

Ambitious brokerage firms have precipitated a shift in demand for FX licences, with interest in regulated European and Asian markets on the increase at the expense of offshore jurisdictions.

A team of once-public sector bankers and officials is launching a new private equity fund that aims to identify ‘climate winners’ from the transition to a decarbonized economy. It has identified key industries but its central thesis is regulation.

Outgoing supervisory chair Andrea Enria warns against ‘complacency’ – despite higher capital ratios at eurozone banks – as he announces new requirements on banks to tackle investment-banking leverage, liquidity shortages and leveraged finance risks.

Outside Switzerland, European banks largely escaped the banking turmoil last March. That hasn’t prevented supervisors using it as an excuse to ratchet up the pressure. Ahead of its 10th anniversary as a supervisor, is the ECB – as some bankers suggest – getting too intrusive?

Restrictions may come at a cost as MSCI considers developed market status.

Regulators are starting to take a more messaging-based approach to sustainable finance, but stopping greenwashing won’t automatically lead to a transition to net zero.

As the Chinese property crisis deepens, a new round of bank-led rescue efforts is on the horizon. While banks must shoulder part of the blame for the crisis, their options for action are limited.

The travails of Zhongzhi, a key player in China’s poorly regulated $3 trillion shadow financing market, underline why a future crisis in the country is more likely, not less.

Instead of boasting about the billions extracted from the crypto exchange, the US Departments of Justice and Treasury should have closed it down.

The use of AI for ESG reporting and assessments is spreading, and regulators can’t keep up. Lenders need to factor in a new set of governance risks that are hard to identify.

The Swedish regulator digs deep into background of prospective senior managers.

Climate change is real and so are the EU’s disclosure rules.

Surely major criminals deserve a second chance in finance, too?

While no charges have been laid against the Adani Group, a new Sebi rulebook addresses a key concern that came from the January stock-market controversy.

The AFX marketplace provides a new venue for US regional and community banks to lend and borrow from each other overnight. It could be the foundation for a new credit-sensitive benchmark rate.

Syndicated loan arrangers’ relief at US appeals court decision on Kirschner case may prove short-lived.

The Singapore regulator MAS has set guidelines for banks transitioning to net zero. Unusually, it cautions against moving too fast.

Global financial regulators are right to pay more attention to non-bank risks, John Schindler, secretary general of the Financial Stability Board tells Euromoney. But is there a danger of losing sight of the most important piece of the system to preserve: the banks?

The controversy surrounding My Forex Funds has reinforced the view that tighter regulation of foreign-exchange proprietary trading firms is inevitable.