06/02/2016
European Commission Adopts Further Technical Standards Under MiFID II
The second RTS, relevant to the MiFID II Directive, specify the criteria according to which a trading platform will be considered to be material in terms of liquidity.
Legal, Regulation & Compliance
06/01/2016
Deutsche Börse CEO Braced for Regulatory Scrutiny Over LSE Deal
Carsten Kengeter criticizes French government after country’s finance minister and central bank chief raise concerns over the tie-up
06/01/2016
MiFID II – ESMA opinion on standards on ancillary services
The European Securities and Markets Authority (ESMA) has published an opinion in response to the European Commission's request that ESMA amend its draft regulatory standard 20 under the Markets in Financial Instruments Directive (MiFID II) and Regula
05/31/2016
The UCITS V Directive
The UCITS V provisions seek to address certain perceived weaknesses in the UCITS regime, particularly following the Madoff fraud and the default of Lehman Brothers.
05/31/2016
EU reforms damage financial system – Italian central bank
Italy has emerged as the most vocal critic of the proposals, which disproportionately affect its domestic banking system.
05/30/2016
Sergei Polonsky's pleas fall on deaf ears in a London court
My Week: From an oligarch’s troubles, to a gathering of the City’s most powerful bankers at Chelsea Flower Show
05/30/2016
EU Commission Clears Unicredit, Santander Fund Management Deal
The deal still needs to be cleared by a number of regulatory authorities, including the European Central Bank, the Bank of Spain and the Bank of Italy.
05/30/2016
Britain is the most corrupt country in the world, claims mafia expert
'It’s not the bureaucracy, it’s not the police, it’s not the politics but what is corrupt is the financial capital'
05/30/2016
Consolidator takes over Linder Myers
The firm will trade as ‘Linder Myers, part of Metamorph Law’ from its Spring Gardens office in Manchester, as well as its bases in Lytham, Chester and Shrewsbury.
05/30/2016
Probe into UK occupational pension schemes
Now it will also investigate how many pension schemes are at risk of failing.
05/27/2016
Bank of England accused of fluffing 'big call' on financial regulation
It’s disappointing that the Bank has stuck to its soft policy on bank capital.
05/27/2016
FCMC and ABLV Bank Signed Administrative Agreement
By signing the administrative agreement, the FCMC and ABLV Bank have agreed on amicable settlement to terminate the administrative matter initiated by the FCMC.
05/26/2016
Ex-Deutsche Bank Trader Bittar Fights to Proceed With FCA Suit
Regulatory proceedings are usually adjourned when there is a parallel criminal trial to avoid publicity that would interfere with the right to a fair trial.
05/26/2016
Recalculation of TMTP under Solvency II - Herbert Smith Freehills
The PRA has published a supervisory statement (SS6/16) on recalculation of the "transitional measure on technical provisions" (TMTP) under Solvency II.
05/26/2016
Bank of England Sets New Buffer Requirement for U.K. Lenders
The buffer, which will be applied starting in 2019, is intended to beef up banks’ resilience and reflects the economic damage that would be caused if they curtailed lending.
05/25/2016
Bank customers may cover cost of fraud under new UK proposals
At present, banks routinely cover the cost of fraud, regardless of blame.
05/25/2016
FCA warns banks on use of anti-money laundering rules to close accounts
Regulator criticises banks for using rules as excuse to terminate accounts of individuals and businesses they perceive as risky
05/25/2016
FCA Research into the issue of de-risking
The FCA, along with fellow agencies and authorities, has a long-standing programme of work in place to ensure the UK financial system is a hostile environment for money launderers. The work not only continues, but has been reinforced by the Government&rsq
05/25/2016
European Commission updated overview of Level 2 measures in financial services
The European Commission has published an updated overview of current and proposed Level 2 legislative measures in the area of financial services.
05/25/2016
French bankers try to reassure Senate over tax havens
Jacques D’Estais also said BNP was closing a branch in the Cayman Islands.