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Showing 16611 - 16620 of 18613 matches

  • FCA: Speech by Clive Adamson: The importance of culture in driving behaviours of firms and how the FCA will assess this (19 April 2013)

    22/04/2013
    Text of the above, given at the CFA Society - UK Professionalism Conference, follows. Topics include key drivers of culture... (setting the tone from the top; translating this into easily understood business practices; and supporting the right behaviours through performance management, employee development, and reinforcing through reward programme); how FSA will assess culture through looking at boards of firms. He also notes that the regulator will “be more prepared to hold [individuals] to account when things go wrong”.
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  • FSA: Latest update as we transition to the Prudential Regulation Authority (PRA)

    22/04/2013
    PRA has now published the text of a letter sent to firms in March 2013 which details the new regulator's board... members; policy and guidance. There is also an FAQ.
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  • FSB: Progress reports to G20

    22/04/2013
    FSB has published the text of a letter to the G20 leaders giving details of progress on financial reform, including, specifically,... Basel II, resolution regimes, OTC reforms; shadow banking and benchmark reform (second link below). In addition, it has published a short progress report on resolution reform (third link below).
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  • IOSCO: Technological challenges to effective market surveillance: issues and regulatory tools

    22/04/2013
    This final report provides an overview of current market surveillance regimes and identifies the main challenges that technological developments pose to... these regimes. It also makes final recommendations to help market authorities develop the regulatory tools for addressing these challenges, particularly with respect to: improving surveillance capabilities on a cross-market and cross-asset basis; and making more useful to market authorities the data collected for surveillance purposes. New regulatory tools are considered, such as audit trail or surveillance data that permits the reconstruction of trades and order books; a single reporting point for transactions within a jurisdiction; and unique entity identifiers.
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  • EC: Retail bank accounts

    19/04/2013
    The EC reports that, on 8 May 2013, it will announce a proposed directive which will focus on the transparency and... comparability of bank account fees, bank account switching and access to a basic bank account.
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  • ESMA: Credit ratings data

    19/04/2013
    ESMA has published the latest set of semi-annual statistical data on the performance of credit ratings including transition matrices and default... rates in its Central Rating Repository (CEREP). This new set of statistics covers ratings data up to 31 December 2012.
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  • FCA: Card Protection Plan Limited

    19/04/2013
    Further to the Final Notice issued in November 2013, FCA has noted that a plan is now being finalised to compensate... customers that were mis-sold a policy they bought directly from the firm, or through a bank or card issuer. It has been agreed in principle that a compensation scheme will be set up to do this but it has not been finalised. Further information will be provided when it is available.
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  • FSCS: 2013/14 levy

    19/04/2013
    FSCS has confirmed its proposed levy for 2013/14 at £285m. The levy has reduced by £26m since FSCS published its initial... assumptions in its Plan and Budget 2013/14 in early February. It follows an up-to-date analysis of claims paid in the previous year and claims assumptions for 2013/14. Firms will be invoiced in July.
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  • HMT: Cross-border OTC derivatives regulation

    19/04/2013
    HMT has published the text of a letter signed by finance ministers in a number of jurisdictions, including the UK, Germany,... France and Russia, as well as Michel Barnier (EC) to the US Treasury secretary and copied to various US regulators and government committees. The letter raises concerns over the lack of progress in developing workable cross-border rules as part of reforms of the OTC derivatives market and sets out a number of draft attached core principles intended to avoid cross-border conflicts.
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  • TSC: Appointment of Dr Mark Carney as Governor of the Bank of England

    19/04/2013
    In this report, which also provides a full transcript of evidence received during this inquiry, TSC raises concern over PRA’s competition... powers: “with only a ‘have regard’ duty given to the PRA, the risk will remain high that, in time, it may merely pay lip service to competition considerations … The concentration of the banking system, in particular, acts against the interests of both business and personal bank customers. For these reasons we do not agree with Dr Carney that the current legislation strikes an adequate balance in this area” TSC also raises concerns with regard to bank account portability and welcomes Mark Carney’s statement that he is “open minded” on the question of whether the UK should introduce this.
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