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Silicon Valley Bank collapse focuses attention on regulation of financial services
17 March 2023 00:00
Duration: 14:52
Last week’s collapse of Silicon Valley Bank and Signature Bank has again focused world attention on the health of US-based lenders and the regulatory framework in which they operate. The US government stepped in to protect deposits, as investors rushed to withdraw their funds — Silicon Valley Bank suffered a $42 billion run in a single day. However, attention in now turning to whether more stringent regulation could have detected the problems sooner. Meanwhile, the Bank of England moved swiftly to stabilize Silicon Valley Bank’s UK unit — a move that suggests the BOE’s resolution powers are working as they should.
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Editorial Team
James Panichi Senior Editor, Asia Pacific

James, an Australian journalist with over 25 years’ experience in print and electronic media, helps to oversee MLex’s coverage of regulatory risk in Asia, with special attention to Australia and New Zealand. In 2016, James was appointed as MLex’s managing editor for continental Europe, overseeing the Brussels bureau’s coverage of EU regulatory affairs and managing a team of 16 journalists in Brussels and Geneva. Previously James worked for the European Voice newspaper, before joining the... Read more
Laurel Henning Senior Correspondent

Laurel is a senior correspondent specializing in competition law, data privacy and security, in Australia and New Zealand. Laurel reports from Sydney on criminal-cartel legislation and white-collar crime, as well as competition and consumer lawsuits involving companies including Google, Meta Platforms and Apple. While at MLex Laurel has also reported boardroom disputes and shareholder campaigns agitating for changes to company strategy. Laurel joined MLex in 2013 and reported for five years on European energy and... Read more
Fiona Maxwell Chief Correspondent

Fiona Maxwell is a financial services chief correspondent at MLex in London. She began her career as a reporter for Risk.net, writing about EU post-crisis regulation, and later worked for POLITICO in Brussels, covering the intersect between financial policy and politics. Prior to joining MLex, Fiona worked at the Bank of England as a policy adviser in the prudential policy directorate.Connect with Fiona on Twitter.
Neil Roland Senior Correspondent

Neil has covered U.S. financial regulation for over two decades, mostly for Bloomberg and Crain Communications. He received a Loeb award for coverage of regulators' response to the collapse of Enron. He also garnered a SABEW award and some Jesse H. Neal awards for stories on the Federal Reserve's response to the 2008 financial crisis. Roland has appeared as a commentator on Fox TV, NPR, C-Span and Bloomberg TV. He received a Master's degree in... Read more
Phoebe Seers Correspondent

Phoebe has covered Financial Crime and compliance issues for MLex since 2015, initially in the Hong Kong bureau and currently in London. While in Hong Kong she won two SOPA awards for her reporting on corruption in the energy sector in Indonesia. Prior to journalism she worked as a solicitor with a focus on white-collar crime litigation in London and Hong Kong. She has a BA in English and Philosophy from Newcastle University.