10/13/2016
Costly Rule Changes to Spark More M&A by Europe’s Asset Managers
The industry post the financial crisis is changing.
Legal, Regulation & Compliance
10/13/2016
UPDATE 2-France's Hollande criticises huge U.S. fines against corporate Europe
When the European Commission goes after Google or digital giants which do not pay the taxes they should in Europe, America takes offence
10/13/2016
Funds vow to vote against appointments to boards lacking women
Jupiter and Old Mutual to use directors’ elections to improve diversity
10/13/2016
Court battle looms over Brexit legality
Senior judges will hear claims that the government cannot trigger article 50 without parliamentary approval
10/13/2016
Anti-Brussels rhetoric puts EU cash at risk for £1.6bn scheme in Fife, say Lib Dems
One of those projects is for a wind farm of up to 75 turbines, to be sited 15km off the Fife coast.
10/13/2016
Final EU Guidelines on Information regarding Commodity Derivatives and Spot Markets
This means that transactions in commodity derivatives based on inside information relating to underlying spot transactions will be expressly prohibited.
10/13/2016
Isle of Man CAA and UK CAA reach key agreement on UK based operators of ‘M’ Registered aircraft
The letter was signed by IOM CAA Director of Civil Aviation, Simon Williams and the UK CAA Group Director for Safety & Airspace Regulation.
10/13/2016
FCA cancels payday lender’s interim permission, bans director and refuses application to conduct regulated business
The further evidence relied upon by the FCA in rejecting those applications includes WPPL’s failure to co-operate properly with the Financial Ombudsman Service
10/13/2016
FCA slaps £3.25 million fine on Sonali bank for AML failings
The FCA found that Mr Smith failed to exercise due skill, care and diligence in managing the business of the firm
10/13/2016
Deutsche Bank Fined by SEC Over Failure to Guard Research
Deutsche Bank also published an improper research report and failed to properly preserve and provide certain electronic records sought by the SEC during its investigation.
10/13/2016
French finance minister eyes U.S. bank exodus from London
The inevitable consequence whatever the outcome of the Brexit negotiations.
10/12/2016
Finance firm boss faces £1 million fraud charge
It is expected that formal committal proceedings will take place on 21 November.
10/12/2016
ESMA Q&A on CFDs and other speculative products to retail investors under MiFID
The European Securities and Markets Authority (ESMA) has published an updated version of its question and answer document (Q&A) on the application of the Markets in Financial Instruments Directive (MiFID) to the marketing and sale of financial contrac
10/12/2016
Barclays sells Italian loan portfolio to IBL Banca
The sale will reduce non-core risk weighted assets
10/11/2016
Deutsche Bank fails to score Justice Dept. deal, shares fall
Deutsche Bank is expected to issue new shares, sell assets, or both, once it knows the scale of the fine, to ensure that its capital ratio remains within regulatory limits.
10/11/2016
Ulster Bank sells multi-million pound problem debt
The loans were bought by US private equity firm Cerberus
10/11/2016
Renegade EU's bank-capital pushback threatens to erode Basel
Top EU policymakers have made clear that sweeping changes are needed
10/11/2016
EU Commission approves liquidity support for Greece's Attica Bank
The EU Commission said the state guarantee feature of the bonds was in line with EU state aid rules.
10/11/2016
Fine not the end of Deutsche Bank's US woes
Overseas banks to organise their US subsidiaries differently
10/11/2016
EU Securities Watchdog Finalizes Transaction Reporting Rules
The guidelines are addressed to national competent authorities and financial market participants who must make every effort to comply with them