11/25/2014
FCA communication warning in conflict of interest wealth review
The FCA found that there were weaknesses in the way firms monitor the way these products are used and communicated with consumers.
Legal, Regulation & Compliance
11/25/2014
Private Capital team scoops another award
"This award is a testament to our team, its international strength and the quality of work it does. It tops off what has been a great start to the new merged firm."
11/25/2014
Lenders urge FCA to provide clarity on acceptable lending practices
The Intermediary Mortgage Lenders Association has urged the FCA to provide more clarity around acceptable lending practice under the MMR.
11/25/2014
International law firm expands into Luxembourg with five-partner office
This will service the requirements of clients in the Asset Management & Investment Funds and Financial Institutions sectors, particularly in relation to private funds formation, corporate structuring, UCITS, hedge funds, capital markets, banking, and
11/25/2014
U.S. prosecutors to interview London FX traders - sources
U.S. prosecutors will travel to London in the coming weeks to interview traders about currency market manipulation, the latest sign that authorities are closer to filing criminal charges stemming from the long-running probe, sources told Reuters.
11/25/2014
Top 100 law firm appoints 13 associates and senior associates
Those promoted to senior associate, along with their area of expertise, include Katie Beaven (family law), Carol Ramsden (rights of way) and Charlotte Wormstone (property litigation),
11/25/2014
Expat rates: Savvy savers should look at getting into a fix
The best deal on the market for expat savers at the moment is Nationwide International's 2.3pc fixed rate for three years
11/25/2014
NAPF: More U.K. pension funds screen money managers’ stewardship
There also was a growing recognition of the effect environmental, social and governance issues can have on financial returns.
11/25/2014
Hungary Passes Bills on Mortgage Conversion, Retail Loan Limits
Hungary’s parliament approved laws that force banks to convert $14 billion of foreign-currency home loans to forint and impose pricing limits for fresh lending.
11/25/2014
U.K. Pressures BofA Unit on Risk Management
British Regulator Describes Current Practices at Bank’s European Arm as ‘Simplistic’
11/24/2014
Plans to reduce cost of business on the Rock
The news was presented by Gemma Vasquez at the Gibraltar Federation of Small Businesses' annual dinner at the Rock Hotel where she asked that business issues would be raised.
11/24/2014
Bankers’ bonus farce is undermining London’s status as financial centre
While Europe fiddles with the pay cap, other economic hubs are dividing the spoils
11/23/2014
Ansbacher whistleblower left 'frustrated' in efforts to appear in front of PAC
Civil servant Gerard Ryan has told TDs that the investigation into a series of offshore bank accounts, allegedly held by a number of former politicians, is far from completion.
11/23/2014
Basel to toughen ABS stance before it eases it
Global policymakers look set to finalise tougher new capital rules on asset-backed securities in December, just three months before defining banks' high-quality assets which may well then be granted better treatment in the future.
11/21/2014
Osborne drops banker bonus cap bid
George Osborne has dropped his challenge to the EU over banker bonus caps
11/21/2014
ECB Paves Way for Buying Asset-Backed Securities
That’s in line with comments from Executive Board member Yves Mersch, who has said the ECB will start buying ABS this week.
11/21/2014
Marrache liquidators sue Baker Tilly for £28m in bid to recoup lost client funds
The liquidators of Gibraltar firm Marrache & Co are suing the local branch of accountancy firm Baker Tilly for negligence, breach of duty, conspiracy and dishonest assistance for audit advice given prior to Marrache’s collapse in 2010.
11/20/2014
FCA worried about fund manager service: JP Morgan
She said Mifid II required all costs to be aggregated, and that the industry would find out in December how that goal would be interpreted into regulation, which will come into force in 15 months’ time.
11/20/2014
'Anti-offshore' law to bring billions back to Russian economy
Russia’s upper house of parliament has approved an “anti-offshore” law requiring individual and corporate taxpayers to report foreign profits.
11/20/2014
The vital relationship between the regulator and the advisory industry by John Griffith-Jones, Chairman of the FCA
Speech by John Griffith-Jones, Chairman of the FCA, at The Association of Professional Financial Advisers (APFA) Annual Gala Dinner delivered at Banking Hall, London. This is the text of the speech as drafted, which may differ from the delivered version.