News

Search Filters

Advanced Search Advanced Search
Date range:

Showing 16171 - 16180 of 16853 matches

  • FSA: Financial Crime Newsletter 16

    03/10/2012
    Topics include: anti-bribery and corruption systems and controls in investment banks; banks’ defences against investment fraud; recent enforcement cases and speeches;... financial crime supervision; financial crime guide for firms; sanctions reporting; thematic work and safe custody services.
    Support Information
    Show more Show less
  • FSA: CP12/26**: Regulatory reform: the PRA and FCA regimes for Approved Persons

    03/10/2012
    This paper consults on certain proposed changes to existing regulatory rules and guidance relating to approved persons and has been prepared... in consultation with BoE. In the light of the Financial Services Bill, this CP set out changes to the current FSA regime that seek to make it fit for purpose for PRA and FCA, including amendments required as part of the creation of the PRA and FCA Handbooks.The main aspects of change are: a split of the current list of controlled functions for firms regulated by both PRA and FCA, seeking to minimise unnecessary duplication for dual-regulated firms (something required by the Financial Services Bill); and an extension of the Statements of Principle in APER to a wider set of activities, and their application to people approved by either regulator – meaning that both regulators will have the ability to discipline certain categories of approved person. Chapter 3 of the CP sets out specific handbook rule and guidance changes related to controlled functions that will affect (i) dual-regulated firms and (ii) firms that will be regulated by FCA only. This chapter also covers the procedural changes that are resulting from the creation of two regulators. Chapter 4 explains changes to APER, which notes an increase in the coverage of the activities APER applies to for both PRA and FCA. Both regulators are proposing a similar approach to APER and this is reflected in the joint text. Draft Handbook text appears in Appendix 1 and Appendix 2 explains how the Handbook provisions will be designated between PRA and FCA. Responses should be received by 7 December 2012.
    Support Information
    Show more Show less
  • EC: High-level expert group on reforming the structure of the EU banking sector (the Liikanen report)

    02/10/2012
    The report recommends actions in the five following areas: mandatory separation of proprietary trading and other high-risk trading activities, possible additional... separation of activities conditional on the recovery and resolution plan, possible amendments to the use of bail-in instruments as a resolution tool,; a review of capital requirements on trading assets and real estate related loans, and a strengthening of the governance and control of banks (Erkki Liikanen’s accompanying statement and the exec summary on p7-14 of the report provide a fuller synopsis). The EC press release notes comments from Michel Barnier, in which he notes that the EC will look at the impact of the recommendations both on growth and on the safety and integrity of financial services and how these relate to financial reforms already underway.
    Support Information
    Show more Show less
  • BIS/BERR: Guidance for foreign exchange providers: compliance with consumer protection legislation

    02/10/2012
    This document provides guidance for businesses on the Price Indications (Bureaux de Change (No.2) Regulations 1992, and applying the Consumer Protection... from Unfair Trading Regulations 2008 to foreign exchange providers.
    Support Information
    Show more Show less
  • EC: Proposal for a Regulation of the European Parliament and of the Council on markets in financial instruments and amending Regulation [EMIR] on OTC derivatives, central counterparties and trade repositories

    02/10/2012
    A new marked-up Presidency compromise dated 28 September 2012 has been published.
    Support Information
    Show more Show less
  • EC: Proposal for a Directive of the European Parliament and of the Council on markets in financial instruments repealing Directive 2004/39/EC of the European Parliament and of the Council (Recast)

    02/10/2012
    A new marked-up Presidency compromise dated 28 September 2012 has been published.
    Support Information
    Show more Show less
  • EIOPA: Draft technical specifications QIS of EIOPA’s advice on the review of the IORP Directive

    02/10/2012
    This document contains the draft technical specifications for the QIS of EIOPA’s advice to the EC on the review of the... IORP Directive to be submitted to the EC for its consideration. Responses to the original June 2012 consultation are available to download individually via the second link.
    Support Information
    Show more Show less
  • ESMA: Consultation on guidelines on sound remuneration policies under the AIFMD

    02/10/2012
    ESMA has published the responses to the above consultation published in June 2012 which are available to download individually via the... following link.
    Support Information
    Show more Show less
  • FRC: Annual Report & Accounts 2011/12

    02/10/2012
    The document includes a business review setting out major work undertaken by FRC during the year.
    Support Information
    Show more Show less
  • FSA: CP12/25**: Enhancing the effectiveness of the Listing Regime and feedback on CP12/2 - supplementary consultation on proposed changes to the Listing Rules resulting from the implementation of the Alternative Investment Fund Managers Directive

    02/10/2012
    This CP proposes a number of changes to LR following a consultation in January 2012 on the premium listing regime, amid... market debate on the issues of free float, minority shareholder protection, corporate governance and the IPO market in general. The proposals fall under the headings of free float provision and corporate governance. With regard to the former, FSA proposes detailing the circumstances where it might consider modifying the 25% free-float requirement for premium listings, indicating that any modification beneath 20% would be unlikely; and removing the requirement for a minimum absolute percentage free float within the standard segment, provided that sufficient liquidity is present. With regard to corporate governance, FSA intends to adopt greater corporate governance requirements for companies with a dominant shareholder, including introducing the concept of a “controlling shareholder”; requiring an agreement is put in place to regulate the relationship between such a shareholder and the listed company and ensuring that this agreement is complied with on an ongoing basis; insist on a majority of independent directors on the board where a controlling shareholder exists and introduce a new dual voting procedure to allow independent shareholders to have more say in their appointment. Proposed amendments to LR relating to the implementation of the AIFM Directive are included. Responses are required by 2 January 2013. Following CP12/2, FSA also confirms further changes to LR in relation to reverse takeover, sponsor regime, externally managed companies, financial information requirements and transactions. Rules in respect of CP12/2 will come into effect on 1 October 2012, except for the new rules for sponsors and there are transitional rules on reverse takeovers and financial implementation. LR 9.2.20R, which relates to externally managed companies is transitional in order to mitigate the cost of restructuring, for those premium listed issuers who presently use an external management structure. This rule will not come into force until 1 January 2014.
    Support Information
    Show more Show less