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Legal, Regulation & Compliance

10/30/2019

German central bank boss warns against climate role for regulator

Incoming ECB president Christine Lagarde recently argued that it should be a priority for central banks and supervisors to look at how they can contribute to mitigating climate change.

10/30/2019

Swedbank Faces Bigger Risk of Fines as Watchdog Weighs Sanctions

The investigation is like a cloud hanging over Swedbank, so the sooner the FSA reaches a decision, the better,” said Joakim Bornold, a savings advisor at Soderberg & Partners in Stockholm.

10/29/2019

Hargreaves clients approach law firm about Woodford case

It is examining ‘representations’ the platform made about Woodford Equity Income

10/29/2019

KKR adds Deutsche Bank to defence supplier Hensoldt's IPO lineup - sources

It employs 4,400 staff and has annual sales of 1.1 billion euros.

10/29/2019

Russian c.bank to soften capital regulation on some banks - bank official

Other banks in Russia calculate their credit risk according to central bank criteria, despite wanting to base their capital allocations on ratings by domestic ratings agencies.

10/29/2019

Central-bank digital currencies: proceed with caution

Account-based CBDCs would make it possible for private households and corporations to open an account with the central bank.

10/29/2019

FCA boss: Keep retail and institutional investors apart

Bailey said Kent council’s request was “the very proximate cause” of the freezing of the Equity Income fund.

10/29/2019

Lloyds Bank fails to pass on wills of 9,000 deceased customers

However, it estimated that in hundreds of cases, customers’ estates were incorrectly distributed.

10/29/2019

Treasury Committee report on IT failures in financial services sector

Regulators must act to reduce unacceptable number of IT failures in financial services sector, warns Treasury Committee

10/29/2019

EU Exit: HMT speech on post-Brexit financial services sector

The UK Financial Services Beyond Brexit Summit: Economic Secretary's speech

10/29/2019

Monetary policy and open questions in international macroeconomics - speech by Silvana Tenreyro

Given at the John Flemming Memorial Lecture, London

10/29/2019

Fifth of law firms fail to comply with money laundering rules

The watchdog also revealed that it had opened 172 investigations linked to anti-money laundering compliance this year.

10/29/2019

Money laundering risk building up in private banks, Luxembourg regulator warns

Their deposits went up by 4% last year, or €32 billion, figures from the bankers’ association ABBL show.

10/29/2019

Shrink the City. It’s the only way to stop the world’s criminals flourishing in the UK

Dodgy cash has spread across the country, boosted by Britain’s opaque and oversized financial sector

10/28/2019

EU Exit: FCA PS on UK-RTS for SCA applicable in the event of no-deal Brexit

Making the UK regulatory technical standards in this way will provide certainty for firms and maintain consumer protections.

10/28/2019

KPMG mulls plans to shut down its private members' club

It is understood that around 50 roles were placed at risk of redundancy as a result of the restructure.

10/28/2019

EY: Gold, drug money and a major auditor's 'cover-up'

The following year the accountancy firm EY, formerly known as Ernst and Young, had been asked to conduct a review of Kaloti's compliance

10/28/2019

BlueCrest Capital hedge fund sues two traders, accusing them of lying to get big bonuses

The company says it paid bonuses of £230,788 to the two equities traders that month and allocated £3.5m of deferred bonuses to them the following month, most of which they drew in April.

10/28/2019

Vatican bank chief says latest scandals are true proof of reform

While all that may make it tough to assess the latest round of purported scoops and stern denials, what’s becoming clear, at least, are the dueling narratives at work.

10/28/2019

Nordea Managers of $350 Billion Shielded From Deep Job Cuts

The head of Nordea’s wealth unit, Snorre Storset, says a plan to cut jobs across the organization won’t affect portfolio managers in his unit.

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