03/31/2014
FCA to make rogue fund managers pay back bonuses
The Financial Conduct Authority is to scrutinise the pay and clawback measures for all regulated companies including the 2,100 FCA-supervised fund houses.
Legal, Regulation & Compliance
03/31/2014
FCA To Investigate Handling Of Disorderly Market For Life Insurers
The Financial Conduct Authority has said it will hire external lawyers to aid it in investigating its handling of events Friday, when the FTSE 350 life insurance index fell by as much as 7.1% amid press reports of a probe by the regulator into 30 million
03/31/2014
FCA business plan overlooks 'urgent' unfair FSCS issue
The Wealth Management Association has condemned the Financial Conduct Authority business plan, claiming the regulator is overlooking FSCS problems in its annual review.
03/31/2014
FCA Funding Boosted to £452m to Handle Payday Loans
The Financial Conduct Authority has revealed it is increasing its head count to meet the demands of investigating banks and insurers, as well as extending supervision to the margins of the consumer credit industry.
03/31/2014
Allen & Overy advises banks on Russian-related F1 loans worth $850m
Allen & Overy’s Moscow team has advised two syndicates of lenders on new loan facilities for Sberbank Europe AG and Credit Bank of Moscow
03/28/2014
IMA Comments on Pension Charges Cap
While there is understandable concern in Government about assuring DC scheme quality, a charge cap is not the best way to achieve good outcomes and this was a key finding of the 2013 Office of Fair Trading market study.
03/28/2014
Baker & McKenzie expands London regulatory team with RPC hire
Baker & McKenzie has expanded its London based regulatory team with the hire of partner Steven Francis from Reynolds Porter Chamberlain.
03/28/2014
FCA to probe fairness of insurers' old savings products
The policies being investigated were written before 2000 when British interest rates were higher, which influences where exit fees are set, the source said.
03/28/2014
Grant Thornton rakes in €13m from Quinn job
Accounting firm Grant Thornton received an additional €2.8m in fees last year – bringing to €13m the sum the company has received for its work in acting as administrators to the Quinn Insurance group.
03/27/2014
RBS reprimanded by Qatar regulatory authority
The Royal Bank of Scotland has been reprimanded by one of the main financial regulators in Qatar for failing to comply with training and competency requirements.
03/27/2014
Switzerland treads careful path over Russia sanctions
witzerland said on Wednesday it would not be "abused" by those wanting to circumvent Western sanctions against Russia but stopped short of adopting its own measures.
03/27/2014
FCA bans and fines trader £660k for attempted QE manipulation
He increased his holding in the run-up to the trading with the intention of raising its price
03/27/2014
FCA praises independents for putting their customers first
Advisers are doing a “very good job” filling the gap left by large retail banks, which have largely pulled out of the advisory market, Clive Adamson has said.
03/27/2014
Review of IORP Directive – where are we? - Towers Watson
After a five and a half year gestation, ‘IORP II’ was finally published in March 2014.
03/26/2014
Structured Finance Lawyer To Join Latham & Watkins in London
Latham & Watkins LLP is pleased to announce that Lucy Oddy will be joining the firm’s London office as a partner in the Finance Department.
03/26/2014
Shoosmiths’ Private Client team win at Scottish Legal awards 2014
Competition was particularly fierce and saw the highest number of entries in the 11 year history of the awards. The finalists came from 33 different firms across Scotland, with 61 entries making the shortlist in various categories.
03/26/2014
Making competition king – the rise of behavioural economics at the FCA by Martin Wheatley
Speech by Martin Wheatley, Chief Executive, the FCA, at the Australian Securities and Investments Commission (ASIC). This is the text of the speech as drafted, which may differ from the delivered version.
03/26/2014
Santander UK fined £12.4m for widespread investment advice failings
Santander has claimed no customers suffered detriment as a result of its advice
03/26/2014
Albemarle & Bond collapses into administration
Pawnbroker ruined by reckless expansion and the fall in the gold price calls in PriceWaterhouseCoopers
03/26/2014
UBS Suspends FX Traders in New York, Zurich and Singapore
UBS AG suspended foreign-exchange traders in the U.S., Singapore and Switzerland as its investigation into the alleged rigging of currency markets widened.