10/30/2019
FCA speech on the future of financial services regulation in the UK
The House of Commons has published a written statement by John Glen explaining the directions.
Legal, Regulation & Compliance
10/30/2019
Proposal for a temporary transitional power to be exercised by UK regulators
This publication set out HM Treasury’s proposal for a temporary transitional tool to be exercised by the UK regulators.
10/30/2019
The EBA calls on the European Commission to take action to facilitate the scaling up of cross-border activity
The first important challenge is the identification of when a digital activity is to be regarded as a cross-border provision of services.
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