10/19/2016
Crunch looms on QE as European Central Bank meets
Up to now, the ECB has been able to sidestep the controversy.
Legal, Regulation & Compliance
10/19/2016
FCA wants to ban restrictive investment banking contracts
The FTSE 250 and AIM markets, to feel that they need to reward a lending bank or corporate broker.
10/19/2016
Treasury committee pushes FCA to release RBS report
The FCA’s report was initially expected to be published at the end of 2015.
10/19/2016
Culture in UK banking – regulatory priorities by FCA Chief Economist, Peter Andrews
In a speech to the Westminster Business Forum, FCA Chief Economist, Peter Andrews, looks at how regulators might improve conduct in banking and disputes the unflattering assessment of finance made by second US President, John Adams.
10/19/2016
FCA publishes the final report of its investment and corporate banking market study
The FCA has today published the final findings of its investment and corporate banking market study and set out a targeted package of remedies to ensure effective competition in the market.
10/19/2016
CS Healthcare's Parker says new FCA general insurance rules (PS16-21) will cost consumers encouraged to shop around for Private Medical Insurance
The new rules, which encourage clients to shop around when their insurance policy is due for renewal, have caused widespread alarm amongst the broker community, with many calling upon the FCA for the Private Medical Insurance (‘PMI’) industry
10/19/2016
UK regulator approves Singapore Exchange's takeover of London's Baltic Exchange
FCA has approved Singapore Exchange's 87 million pound takeover of London's Baltic Exchange
10/19/2016
Lloyds Regulatory Official Sues Bank Over Whistle-Blowing Claims
Lloyds Banking Group Plc former head of regulation sued the lender over claims he was pushed out for blowing the whistle on corporate misconduct
10/18/2016
FCA asks Standard Life to review non-advised annuity sales
These firms are now being asked by the FCA to review all non-advised sales from July 2008 and, where appropriate, provide redress.
10/18/2016
Standard Life told by watchdog to review annuity sales
The FCA did not disclose which insurers had taken part in its industrywide review.
10/18/2016
How EU fund rules leave gaps in investor protection
That structure meant the fund generated 34.7 million euros in performance fees for Mediolanum in 2015.
10/18/2016
ECB’s QE programme strains eurozone repo market
Short-term borrowing costs often swing sharply at the end of a quarter
10/18/2016
Britain and New Zealand agree to start regular trade talks in wake of Brexit
UK continues courting countries outside the EU on trade but cannot formally agree any deals until it has left the bloc
10/18/2016
Munich Prosecutors Limit Appeals of Deutsche Bank Acquittals
The rest is more complex and needs review in Germany’s top criminal court.
10/18/2016
European Securities and Markets Authority Consults on Proposed Guidelines on Product Governance Requirements under MiFID II
The requirements in MiFID II were further specified in secondary legislation which was adopted by the European Commission in April 2016.
10/18/2016
High Court rejects claim that dealings between bank and client went beyond an ordinary arm's length bank-client relationship
Although Rose J's judgment does not rule out undue influence and unconscionable bargain as a possible avenue for a client claim against a bank, it made clear that only in the most exceptional of circumstances could they succeed.
10/18/2016
MLD V – ECB opinion and updated procedure file - Herbert Smith Freehills
The Council of the European Union has published an opinion of the European Central Bank (ECB) on the proposed fifth Money Laundering Directive (MLD V). MLD V sets out additional measures to counter the financing of terrorism, to increase transparency of f
10/18/2016
U.K. Watchdog to Stamp Out Longstanding Investment-Banking Practices
Move aimed at improving competition among banks in selling of stocks and bonds
10/18/2016
Marmite this be the start of Inflation in the UK? James Klempster, head of portfolio management at Momentum
Consumer goods producer Unilever and retailer Tesco had a very public spat last week over the suggestion that the former’s prices needed to go up to reflect the impact of a weakened sterling on input costs.
10/18/2016
Ombudsman ticks off SJP adviser over pension advice
The adviser suggested that paying into a pension would help reduce her bill and recommended a new plan, despite the woman already having one which she could have resumed contributing to at any time.