10/16/2015
The Financial Conduct Authority bans Kweku Mawuli Adoboli from the financial services industry
Mr Adoboli abused his position as a senior trader of UBS AG causing UBS AG losses amounting to $2.25bn.
Legal, Regulation & Compliance
10/16/2015
Statement from the FCA following the announcement by HM Treasury of changes to the Senior Managers’ Regime
There has been significant industry focus on this one, small element of the reforms, which risked distracting senior management within firms from implementing both the letter and spirit of the regime.
10/15/2015
Data Transfers to the US require urgent consideration following ECJ ruling
The Data Protection (Guernsey) Law 2001 and the Data Protection (Jersey) Law 2005 are based on the European Data Protection Directive, and have both been certified as affording "adequate protection" to data subjects under the EU rules.
10/15/2015
BGH subsidiary signs agreement with Saxo Bank
The product will activate in November 2015 and will deliver a highly adaptive trading experience with professional tools, insights and world-class execution to its users.
10/15/2015
Legal & General Investment Management launches cost-effective income generating, risk-targeted multi-asset range
The new range builds on the success of LGIM’s risk-targeted Multi-Index Fund range, which recently surpassed £600m in assets under management.
10/14/2015
LME says ‘one-size-fits-all’ regulation won’t fit metals market
The wide scope of the new rules means many in the LME markets, such as commodity traders, could face stringent new EU rules for the first time.
10/14/2015
Bond Rules Coming to EU Seen Nibbling at Granny's Savings
Greater market transparency might harm some of the very people it’s designed to protect.
10/14/2015
Santander to Pay $6.4 Million in Puerto Rico Bond Settlement
Santander neither admitted nor denied the charges
10/13/2015
BNP Paribas Securities Services extends intraday liquidity reporting
DNA for intraday liquidity reporting is part of BNP Paribas Securities Services’ 'Liquidity Access' offering
10/13/2015
Draft EU rules pose threat to London’s China finance ambitions
George Osborne, UK Chancellor of the Exchequer, has outlined a number of measures to attract China’s offshore trading to London, which is the dominant financial centre in Europe.
10/13/2015
The GFSC signs AIFMD MoUs with the HKMA and the SFC
It supports open, strong cooperation with the SFC and the HKMA in our regulation of AIFMD establishments, and is a very useful tool for us as a regulator.
10/13/2015
Industry heavyweights back law firm asset arm buyout
Renamed Tcam, the firm will now be owned by what it describes as a ‘partnership of three main shareholder groups’.
10/12/2015
Bill Gross Indicts PIMCO, Accuses Colleagues of Conspiracy
PIMCO's parent, German insurer, Allianz SE's AZSEY U.S. unit - Allianz Asset Management of America L.P. - also stands as a defendant in the lawsuit, which is seeking at least $200 million in damages.
10/12/2015
Alarm sounds over pensions as number of whistleblowing reports about auto-enrolment soar
These began three years ago for the largest firms and are staggered according to company size.
10/12/2015
Domicile and the remittance basis of tax
The rules for non-UK domiciles were the subject of much political discussion before the General Election.
10/12/2015
Think-tank calls for rethink amid wave of 'detrimental' regulation
NCI says nearly seven years after the financial crisis regulators still do not appear to understand that “fund managers and banks are different entities” and pose a different set of risks.
10/12/2015
New City Initiative warns regulation is destroying competition
The CRS will begin collection of data in 2016 and information exchange in 2017.
10/12/2015
Credit Suisse Seeks More Interest on Pre-Crisis CMBS Deals
Legacy European CMBS deals often included Class X notes, which were typically held by arrangers and structured to pay out even when the underlying loans had defaulted.
10/12/2015
UK regulator seeks to quash fears over bank ringfencing rules
This, they argue, means they will lose control of a key part of their business.
10/09/2015
'Bond King' Bill Gross sues Pimco for 'forcing him out'
Bill Gross claims a 'cabal' of executives were 'driven by a lust for power, greed, and a desire to improve their own financial position and reputaion'