08/21/2013
British lenders storm ahead of overseas rivals on transparency
UK Banks are more open and transparent than their foreign counterparts in almost all key areas of financial reporting
Legal, Regulation & Compliance
08/21/2013
FCA agrees £1.3bn compensation scheme for protection mis-selling
The Financial Conduct Authority (FCA) has reached an agreement with Card Protection Plan Limited (CPP) and 13 high street banks and credit card issuers that will pave the way for redress to be paid to customers who were mis-sold CPP’s Card Protectio
08/21/2013
Investigation shows Bloomberg used private client data
While the hard-hitting investigation concludes privately owned Bloomberg has ‘appropriate client data policies and controls in place’, it has recommended a raft of changes.
08/21/2013
EU Commission clears amended NordLB overhaul plan
NordLB's original overhaul approved by the European Commission in July last year included a dividend ban from 2012 to 2013 and a coupon ban. The public-sector bank, which received 3.3 billion euros of state aid, later amended the terms.
08/19/2013
BLP global private equity head leaves for Jones Day
McKeeve has spent four years at BLP after joining as private equity head in 2009, just a year after leaving Kirkland & Ellis in 2008, during which time he worked as an investment professional for property tycoon Robert Tchenguiz.
08/18/2013
More investment in data governance needed in asset and wealth management - Study
More investment in data governance is needed in companies specialising in asset and wealth management
08/18/2013
Crowdfunding to be put under the microscope by City watchdog
“We want it to be clear that investors in the majority of crowdfunds have little or no protection if the business or project fails,”an FCA spokesman said.
08/18/2013
DFMs criticised for not submitting performance data
Aj Somal, certified financial planner at Aurora Financial Planning, said some discretionary managers were shown “in a bad light” by not submitting comparative performance data.
08/18/2013
KPMG publishes AIFMD overview
The Directive is going to have a significant impact on AIFMs’ EU strategy
08/17/2013
HMRC Change QROPS Reporting System
There was industry concern that any changes brought in would adversely affect the industry
08/15/2013
FCA writes to 11 groups as it launches fund charge probe
The FCA will look at what the charges are; how they are broken down and overseen; alongside the information that is provided to end-investors.
08/15/2013
Porche Faces New Hedge Fund Cartel Claim In Legal Battle
Porsche SE faces a new legal maneuver from hedge funds seeking to recoup billions of euros they say they lost
08/14/2013
AQR and Stress Test Requirements to Pose Challenges for European Banks - Moody’s
Moody's Analytics has released two reports outlining the challenges associated with the upcoming Asset Quality Review (AQR) and subsequent stress test requirements for European financial institutions.
08/13/2013
Chartis Report Outlines Financial Organizations’ Top Global Compliance, Risk and Business Performance Challenges
Capital adequacy, stress testing & internal risk models among top regulatory pressures; Report says flexible technology key to addressing evolving requirements
08/13/2013
Eversheds advises UK Asset Resolution on £400m loans sale
The sale was completed as two separate transactions
08/13/2013
Magnusson names former Eversheds partner as Copenhagen head
He will draw on his experience gained during a 2,5 year tenure as the Senior Office Partner for Eversheds’ Copenhagen office.
08/13/2013
Feds charge ex-JPMorgan bankers in 'London whale' case
Federal prosecutors in Manhattan have criminally charged two former JPMorgan bankers for their alleged role in the “London whale” trading loss that rocked the investment bank last year and led to a very public overhaul of its senior management
08/12/2013
German watchdog readies Deutsche Bank Libor report-source
Deutsche Bank to receive Libor report from Bank watchdog
08/12/2013
Russell-Cooke strengthens private client practice
Russell-Cooke has strengthened its Private Client practice with the hire of its 8th Partner
08/11/2013
European banks need to sell £2.8 trillion of assets
Banks in Europe will need to slash €3.2 trillion (£2.8tn) of assets from their balance sheets over the next five years to meet new regulations designed to minimise the risk of further banking collapses in future.