Legal, Regulation & Compliance

01/10/2012

UK watchdog cancels registration of payments firm

According to a final notice published on the FSA’s website, the failure to notify it of a change in address hindered the body from properly regulating Mr Ali’s business and thereby protect consumers.

01/10/2012

French banks threaten exile if Tobin tax imposed

French banks may be forced to move a large part of their operations abroad if France went ahead unilaterally with a proposed "Tobin" tax on financial transactions, the French Bank Federation said.

01/10/2012

CFOs fret about transparency in emerging markets: survey

Chief Financial Officers around the world are wary that a lack of transparency in fast-growing emerging markets may lead to greater investor churn, while investors say they should be updated more regularly, two surveys showed on Tuesday.

01/09/2012

Tough new laws to put greedy bankers behind bars

Growing public outrage over the severe damage caused by the banking crisis has prompted the Chancellor to prepare a new criminal offence of ‘corporate negligence’ to punish reckless financiers.

01/09/2012

MF Global UK clients pile in before KPMG meeting

KPMG told Reuters the formal applications to reclaim monies and assets from MF Global UK had been flowing in this week and by late Friday the number of claims from clients and creditors was about 4,500.

01/06/2012

Clegg's hopes of a mansion tax fade

The corollary of this is that the 50p tax rate is likely to remain for the duration of the parliament. The Lib Dems will not accept the abolition of the top rate unless it is replaced with some kind of wealth tax.

01/06/2012

PwC in record fine over its JP Morgan auditing

The independent arbitrators found PwC, now lead by chairman Ian Powell, wrongly reported to the Financial Services Authority that JPMSL had complied with client money rules which govern the segregation and protection of client funds.

01/05/2012

BIBA launches tool to improve compliancy

Initially, members will be pre-registered to include a number of free search credits and will continue to benefit from competitive rates, which BIBA has negotiated for them.

01/04/2012

FSA to target firms with ex-NHFA advisers

A source familiar with the situation said where there were individuals from NHFA working in similar roles at other advice firms then those firms would be looked at by the regulator.

01/04/2012

Alliance Trust calls in FSA over share scam

Alliance Trust has alerted the Financial Services Authority (FSA) after a number of its shareholders received bogus telephone calls purporting to buy shares at double the market value.