Capstone is the leading independent regulatory research provider for financial and business services in both the United States and Europe.  We provide clients with in-depth analysis of how federal and state policies affect investments in the financial services sector. Through our London office, we analyze policy and regulation at both the European Union and Member State level. The financial services team complements its expertise in policy and politics with substantial buy and sell-side experience. We rigorously identify and quantify regulatory and political risks and opportunities to specific private equity transactions.

The financial services industry is constantly being transformed by new laws as well as by a more activist philosophy on the part of regulators.  Capstone analysts are adept at balancing sophisticated investment analysis and expert policy analysis to provide our clients with thorough research on political forces that could impact the financial services sector. We track legislation and guidance from the earliest stages until the implementation phase and beyond.

To closely monitor regulatory trends and identify actionable investment opportunities, Capstone has a network of partners across the United States and Europe. Our expert contacts include former regulators, lobbyists, consultants and law firms in key jurisdictions. We leverage these relationships to arrange conversations with the right people “on-the-ground”. Through our continued analysis, we have built strong relationships with international organizations, legislators, supervisory authorities, and a broad spectrum of stakeholders including think tanks, trade associations, lobbyists and academics.

Our deep understanding of the connection between financial services and public policy allows us to track and analyze regulatory and policy changes surrounding issues such as bank regulation, fintech, anti-money laundering and market abuse, and cybersecurity regulation and data protection.  In addition, we provide expertise in financial policy to gain deep-dive insights on the regulatory risks and opportunities associated with a potential investment for our private equity investors.  Our deep-dive analysis is informed by in-depth research in addition to extensive conversations with a broad swath of relevant stakeholders on a particular issue or set of issues, from regulators to lawmakers to industry and lobbying groups to academics driving the future of the industry.

Below, we highlight examples of select key areas across the financial industry continuum that are included within our expertise.

Selected Issues:

  • Housing Finance Reform— Mortgage finance
  • Bank Regulation— Basel III & IV implementation, CRD I/CRR IIV proposals, BRRD, FED, BOE and EBA Stress Teses, ECB’s TRIM Exercise and SREP
  • Bank Resolution Rules – TLAC, MREL and BRRD
  • Specialty Finance— Consumer credit space
  • Non-bank mortgage servicers
  • Non-bank Systematically Important Financial Institutions (SIFI) Designation
  • Insurance Regulation – Solvency II
  • Fund Regulation – UCITS, AIFMD
  • Financial Markets Regulation – MiFID II, MiFIR
  • Fintech – Payment Services, PSD II
  • European Market Infrastructure – EMIR, CPP Regulation
  • Anti-Money Laundering and Market Abuse – AMLD V, MAR
  • Accounting Standards – IFRS 9, IFRS 16, IFRS 17
  • Securitization
  • Housing Market Policy and Risks – Canada and Sweden
  • European NPL Regulatory Guidance – Italy, Spain, Portugal and Greece

 

- Capstone LLC -

Washington DC

-Capstone Research Limited-

London