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Showing 18811 - 18820 of 19054 matches filtered by 'news item'

  • TSC: LIBOR

    11/07/2012
    Two hearings have been arranged for 16 July 2012. Jerry del Missier, former Barclays COO, will attend the first whilst... Adair Turner, Andrew Bailey and Tracey McDermott of FSA will attend the second.
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  • EC: Legislative proposals: PRIPS/IMD/UCITS

    10/07/2012
    Further to last week's announcement, final versions of the proposals have now been published. 
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  • HMT: Response to the consultation on the amendments to the Payment Service Regulations 2012

    10/07/2012
    This webpage summarises the responses to the February 2012 consultation, notes changes being made as a result of the feedback and... notes that the Regulations will enter into force on 1 October 2012.
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  • HMT: Speech by Mark Hoban: Banking union in the eurozone (9 July 2012)

    10/07/2012
    Text of the above, given in Brussels, follows. He discusses the banking union and recent banking scandals, including LIBOR. He... notes “we will need to go further now and work with the Commission to extend the market abuse regime to cover attempted manipulation of benchmarks. Regulators need full access to telephone records, including those with retail clients. Retail customers can be responsible for market abuse, as well as victims of it. And as the investigation of the fixing of LIBOR and other rates demonstrated in the 21st Century, written records simply won't suffice”.
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  • HoL EU Sub Committee A - Economic and Financial Affairs: MiFID II - getting it right for the City and EU financial services industry

    10/07/2012
    The report concludes that while a review of the existing MiFID I regulatory package was necessary; the proposals for MiFID II... will cause serious damage to the EU financial services industry if they are not corrected as a matter of urgency. It argues that third country access proposals would force the likes of the USA and China out of affected markets; a, criticises its “one-size-fits-all” approach on transparency and the new category of OTFs risks creating red tape through an overly complicated regulatory framework.
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  • SEC: Key definitions for derivative products

    10/07/2012
    SEC has unanimously approving rules and interpretations for key definitions of certain derivative products. The SEC rules and interpretations further... define the terms “swap” and “security-based swap” and whether a particular instrument is a “swap” regulated by CFTC or a “security-based swap” regulated by the SEC. The SEC action also addresses “mixed swaps,” which are regulated by both agencies, and “security-based swap agreements,” which are regulated by CFTC but over which SEC has antifraud and other authority. Once both agencies adopt the final rules, they will become effective 60 days after the date of publication in the Federal Register. The compliance date of such rules for purposes of certain interim exemptions under the federal securities laws will be 180 days after the date of publication in the Federal Register. The final rule text and a fact sheet will be available after both agencies adopt the final rules.
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  • The Authorised Investment Funds (Tax) (Amendment) Regulations 2012/1783 (previously reported on when in draft)

    10/07/2012
    These Regulations amend the Authorised Investment Fund (Tax) Regulations 2006 (S.I. 2006/964, “the principal Regulations”) to make provision for certain transactions... undertaken in relation to property AIFs. (Date in force: 1/08/12)
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  • Transparency International UK: Transparency in corporate reporting: assessing the world’s largest companies

    10/07/2012
    This report ranks 105 of the largest publicly-traded companies worldwide based on their public commitment to transparency. It scores companies... in three areas of public reporting by companies, including their anti-corruption systems, country-by-country financial reporting of corporate operations and a measurement of how open companies are about their many subsidiaries, units and other entities they control. It found that around a half of the companies do not publish information on their anti-corruption programmes and organisational transparency, and the average score in country-by-country reporting is very low. Section 7 of the report specifically considers financial companies, which as a group performed below average in all three dimensions of transparency (the 24 financial companies included in the report scored an average of 4.2 out of 10). Low-scoring institutions include Goldman Sachs (3.3), Bank of America (3.2), and the Bank of China (1.1) which is the lowest scoring company on the index overall. Lloyds Banking Group scores 4.6 and Barclays is the lowest-ranked British company on the index with a score of 4 out of 10.
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  • TSC: LIBOR

    10/07/2012
    TSC has published the uncorrected evidence of the hearing attended by Paul Tucker on 9 July 2012
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  • TSC: LIBOR

    10/07/2012
    TSC has published correspondence received from Barclays relevant to the evidence session taking part today attended by Marcus Agius. It... is noted that these documents were sent as a result of a request made by Andrew Tyrie following comments made by Bob Diamond last week. The letters are from FSA to Marcus Agius (September 2010 and April 2012 concerning SIF issues and a supervisory visit respectively); a letter from Marcus Agius to Adair Turner in response to the second FSA letter and a letter dated 9 July 2012 from Marcus Agius to Andrew Tyrie (this is a covering letter for the others, with some additional explanatory material).
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