09/29/2016
ING could sell $300 million stake in Kotak Mahindra Bank
The lender will be declaring its second quarter results on October 25.
Legal, Regulation & Compliance
09/29/2016
PRA and FCA propose measures to maintain firms’ focus on culture
The FCA has marked six months since the implementation of the Senior Managers’ and Certification Regime (SM&CR) by providing feedback on implementation so far and proposing measures to further strengthen the regime (see below). The proposed rule
09/29/2016
Code of Conduct for IAPs updated
This monitoring will include seeking feedback from interested stakeholders via a new Code Consultative Group.
09/29/2016
Former BlackRock fund manager charged with insider dealing
His wife, who was also arrested in 2013, has not been charged.
09/29/2016
FCA publishes third MiFID II consultation paper
MiFID II, which comes into effect on 3 January 2018, updates and improves rules governing the way capital markets function, contributes to the reform of derivatives markets and strengthens transparency of trading. These further the aim of making financia
09/29/2016
RBS to pay $1.1 billion to resolve some of its U.S. mortgage claims
To pursue recoveries against financial firms that we maintain contributed to the corporate crisis
09/28/2016
Panmure Gordon returns to profit; cautious of further Brexit vote volatility
Panmure’s pre-tax profit reached £0.3m from a loss of £0.2m in the same period last year and a “disappointing” 2015.
09/28/2016
The FCA is making senior management responsible for the culture in their firms
Culture is not a tangible thing that can be taken down from a shelf and inspected.
09/28/2016
Ex-KPMG partner in HMRC probe Eamonn Donaghy launches consultancy firm
Mr Donaghy is launching a business consultancy firm
09/28/2016
European Parliament Begins Panama Papers Probe Despite Tax Haven Splits
Despite taking evidence for several months, the LuxLeaks investigation has, so far, failed to put an end to the schemes.
09/28/2016
RBS pays £846m fine for its role in the 2008 financial crisis
RBS sold the securities to two credit unions, which failed after the US housing bubble burst in 2008.
09/28/2016
Financial inclusion: guidance on the regulation and supervision of institutions published by the Basel Committee
The Guidance published today identifies 19 of the total 29 Basel Core Principles where additional guidance is needed in the application of the Core Principles to the supervision of financial institutions engaged in serving the financially unserved and und
09/28/2016
FCA Market Watch No 51
This issue outlines the FCA's findings from the Market Maker Review
09/28/2016
U.K. Faces Reckoning Over RBS Bailout
Value of the U.K. government’s stake in the lender has fallen drastically since the Brexit vote
09/27/2016
Are central bankers killing the banking golden goose
He is reluctant to raise extra capital at a time when Deutsche's share price is so low.
09/27/2016
UK government fails on real transparency, says TI
It appears that it still has to get its own house in order.
09/27/2016
FRANCE: Penalties for Trust Reporting Omissions - BDO
These penalties were harsher than the ones successfully appealed against in the context of unreported foreign bank accounts above.
09/27/2016
Majority of FCA’s IT systems restored after three-day outage
The FCA also said that firms worried about whether any data submissions sent through on Friday successfully got through should contact it.
09/27/2016
Panama papers: investigative journalists discuss their work in Parliament
The release of the so-called Panama papers in April reignited the debate on tax evasion
09/27/2016
Jersey introduces virtual currency regulation
The new regime, developed by Digital Jersey, the States of Jersey, the JFSC and Jersey Finance as part of Jersey’s Digital Policy Framework, came into effect on Monday.