11/27/2013
FCA Looks to Crack Down on SVR Rate Hikes
The Financial Conduct Authority has signalled that it may look to crack down on clauses within mortgage contracts
Legal, Regulation & Compliance
11/27/2013
FNZ Selects Euroclear For Fund Settlement
In the UK, FNZ powers the wealth platforms for a significant portion of the market including Standard Life, AXA, Zurich, Friends Life, Close Brothers, JPMorgan Asset Management and HSBC.
11/27/2013
Apfa’s Gummer Urges FCA to Prevent ‘Bad Advisers’ From Resurfacing
The Association of Professional Advisers has called for the Financial Conduct Authority to do more to ensure advisers with a history of bad practice
11/27/2013
FCA further delays SIPP capital adequacy proposals
The regulator will now aim to publish its proposals for the minimum cash reserves SIPP providers will be required to hold within the first half of next year.
11/26/2013
Gold price-fixing scandal: UK's FCA scrutinises $20 trillion gold market
The UK Financial Conduct Authority is scrutinising how prices are set in the $20 trillion gold market.
11/26/2013
Agreement Paves Way for Marketing Cayman Funds
Memorandum of understanding signed with German financial services regulator
11/26/2013
Compliance Shortage in UK Asset Management
A third of major UK asset management firms do not have sufficient internal resource to manage their firm’s regulatory risk
11/26/2013
RBS Faces Possible Criminal Probe - FT
The paper added that the agency is assessing whether there was any criminal activity or whether the bank was engaging in lawful.
11/26/2013
Dentons Merger With McKenna Called Off
The vote on the tie-up was expected to take place by November 14 but hit delays, thought to stem from McKenna Long partners.
11/26/2013
Tribunal upholds £100k IFA fine over Gtep advice
The FCA has won a legal battle to fine Westwood Independent Financial Planners £100,000 over suitability failings in geared, traded endowment policy sales.
11/25/2013
FCA Slaps Outsourced Wealth Manager With £900k Fine
Wealth manager failed to adequately protect client money, according to notice published by the regulator.
11/25/2013
PwC Finds Fund Firm Compliance Heads Working 12-hour Shifts
A PwC survey has found a third of UK asset management firms are unsure they have the resources to cope with growing regulatory demands.
11/25/2013
UK's Serious Fraud Office may launch RBS criminal probe -report
Britain's Serious Fraud Office is considering the possibility of launching a criminal investigation into allegations that Royal Bank of Scotland mistreated struggling small businesses.
11/24/2013
Speechly Bircham opens its fourth European base in Paris
Litigation partner Frederic Jeannin also joined from STC Partners, while corporate partner Thibaut Caharel joined the team from Parisian firm PDGB Avocats.
11/24/2013
FCA proposes new rules on dealing commission for investment managers
The Financial Conduct Authority has today proposed improvements to the rules and new guidance over investment managers’ use of client commissions. These changes will ensure that charges paid by consumers for executing trades and related services &am
11/24/2013
Hungary Top Court to Probe Forex Loan Contracts' Validity
Hungary's supreme court said Monday that it is launching a probe into the validity of foreign-currency loan contracts
11/24/2013
Hungary fines 11 banks $43 million for collusion
Most of the exchange rate losses had to be swallowed by the banks.
11/24/2013
Top German banker urges ECB to finalise details on bank tests
The European Central Bank should quickly finalise details of forthcoming health checks on European banks because the sector faces a big challenge in completing the planned balance sheet exercises.
11/24/2013
Finance professionals say regulation not enough to stop a crisis
Only thirty-five out of the three hundred surveyed are said to be convinced that regulators have a grasp on how the crisis came about.
11/23/2013
Glasgow Based Investment Banker Convicted of Stealing More Than £400,000 From Clients' Accounts
George Kalmar will be sentenced on Tuesday after he was convicted at Glasgow Sheriff Court of pocketing the cash and spending it on women, gems and five-star benders.