12/15/2016
PRA and FCA provide feedback on the implementation of the Senior Managers' and Certification Regimes for banks and insurers
This suite of documents did not include consultation on extending the regime to all firms
12/15/2016
EBA publishes final draft technical standards on cooperation and exchange of information for passporting under PSD2
The final draft RTS set out a harmonised framework for cooperation and exchange of information between Competent Authorities to facilitate cross-border provision of payment services in the EU internal market.
12/15/2016
Credit Suisse must face New York mortgage suit, court says
Credit Suisse Group AG must face New York Attorney General Eric Schneiderman's US$10 billion lawsuit accusing the bank of fraud in the sale of mortgage-backed securities before the 2008 financial crisis, a state appeals court ruled Tuesday.
12/15/2016
Fund managers' scourge Chris Sier spreads the word
He wants the data to be managed for zero cost and offered as a template abroad, in due course.
12/15/2016
Transitional deal would reduce Brexit's risks to financial stability
Bank of England deputy governor indicates details of arrangement needed within nine months of article 50 being triggered
12/15/2016
Credit Suisse Reaches Agreement With Italian Prosecutors
An Italian court this week agreed to a deal between Credit Suisse and the Italian authorities
12/15/2016
Esin Attorney Partnership & Baker Mckenzie wins Turkey “Legal Adviser of the Year” at the 10th Mergermarket European M&A Awards in London
This is the second time in the last six years that the Firm has received this award
12/15/2016
EU prepares rule changes to target City’s euro clearing
Pre-Brexit move would deprive London of flagship financial business
12/15/2016
King & Wood Mallesons tax chief in talks to join Reed Smith as City firms rally for trainees
KWM has updated its partnership deed to ensure that any tax losses are split fairly between current and former partners
12/15/2016
British Legal Awards London Office of the Year: Proskauer Rose
Proskauer Rose won the London Office of the Year award
12/15/2016
UK: Reforms To The Taxation Of Non-UK Domiciled Individuals: Draft Legislation And Final Proposals
Individuals with 'mixed funds' in overseas bank accounts consisting of foreign capital, capital gains and income will be able to separate them into their constituent parts.
12/15/2016
Central Bank expects Brexit relocation decisions early in 2017
Regulator confident staffing issues can be managed
12/14/2016
Complaints Commissioner upholds complaint against FCA
The Complaints Commissioner has recommended that the FCA policy team send the complainant a full and considered response to the policy issues raised.
12/14/2016
FCA review finds room for improvement when dealing with customers in early arrears
In these firms there was widespread evidence of poor customer outcomes
12/14/2016
Pension providers making good progress on reducing fees and charges
Firms should continue to work to ensure that value for money is being consistently delivered.
12/14/2016
FCA launches market study on competition in the mortgage sector
The FCA will also review whether there are opportunities for better technological solutions to problems we identify, including greater use of digital channels to deliver information or advice.
12/14/2016
Guidelines on remuneration policies for sales staff
The risk of mis-selling and resultant conduct costs for firms.
12/14/2016
Trio of banks hit back at €485 million rate rigging fine
However, responding to the fines, the three banks have said they did nothing wrong with Credit Agricole declaring that it would appeal the decision while the other two are still considering an appeal.
12/14/2016
However, the ECB told the Monte dei Paschi such a delay could cause a further deterioration in its liquidity position and a worsening of its capital base, Monte dei Paschi said in a statement.
12/14/2016
KBC's capital remains well above the minimum requirements