Financial Services UK

  • November 15, 2016

    EU To Implement Remaining Basel III Standards

    The European Commission on Tuesday unveiled plans to update European Union capital rules and bring them in line with standards set out by global regulatory forums, such as requiring systemically important banks to hold minimum levels of easily-written-off debt in order to survive crisis periods.

  • November 15, 2016

    EU Bank Watchdog Aims To Restore Trust in Internal Ratings

    Europe’s top banking authority published draft guidelines on Monday that could lead to material changes to the internal ratings systems used by banks to calculate their regulatory capital as part of efforts to restore trust in the system.

  • November 15, 2016

    Anti-Money-Laundering Experts Advise Wider EU Info-Sharing

    The European Union needs to create a blocwide register of beneficial owners of companies in order to combat money laundering and terrorist financing in the wake of the Panama Papers release, anti-money laundering experts told the European Parliament Monday.

  • November 14, 2016

    Tesco Strikes Visa Interchange Fee Deal On Eve Of UK Trial

    Tesco PLC reached a deal with Visa Inc. to settle antitrust claims worth about £500 million ($624 million) on the eve of a months-long trial as a dozen retailers accuse the credit card giant of fixing interchange fees, the parties said Monday.

  • November 14, 2016

    PCP Capital’s £721M Barclays Dispute Slated For Trial

    A private equity firm’s claim against Barclays PLC for £721 million ($900.5 million) over allegations the bank dishonestly misled the firm when raising £3.25 billion during the 2008 financial crisis is due for trial in England’s High Court in January 2018, a judge said Monday.

  • November 14, 2016

    EBA Proposes New Reporting Rules On Sovereign Risk

    The way bank supervisors report sovereign and operational risk is set for an overhaul, Europe’s banking authority said Monday as it warned that current frameworks are outdated and suffer from a host of shortcomings.

  • November 14, 2016

    Sidley Austin LLP Boosts Capital Markets Practice In London

    International law firm Sidley Austin LLP on Monday said it has hired two new partners for its capital markets practice in London.

  • November 14, 2016

    ECB Weighs Guidelines On Selecting Bank Board Members

    The European Central Bank asked Monday for industry feedback on introducing for the first time a common set of criteria for assessing the suitability of new board members at the biggest banks across Europe.

  • November 14, 2016

    SFO To Finish Delayed Barclays Qatar Funding Probe In March

    The U.K.’s Serious Fraud Office will complete its investigation into Barclays PLC’s 2008 fundraising from Qatar and decide whether or not to press charges by the end of the first quarter of 2017, lawyers representing the agency told England's High Court on Monday.

  • November 14, 2016

    PRA Sets Final Rules On Credit Union Reporting

    The Bank of England’s regulatory arm published final rules Monday outlining changes to the format and frequency of reporting requirements that apply to member-owned financial cooperatives.

  • November 14, 2016

    New EU Fintech Task Force Will Outline Policies By 2017

    Europe’s executive arm launched a task force Monday to study how financial technology could transform financial services in a step toward eventually regulating virtual currencies such as Bitcoin.

  • November 14, 2016

    UK Watchdog Proposes Rules On Cyber Underwriting Risk

    U.K. insurance and reinsurance firms lack the ability to underwrite cyberrisks effectively, the market’s watchdog warned Monday while proposing new cyber insurance guidelines.

  • November 14, 2016

    ESMA Asks EU To Delay Central Clearing For Small CCPs

    Financial institutions worried over the impact of new bank capital requirements on their derivatives business gained support from Europe’s top securities regulator on Monday, which urged that smaller counterparties should be given more time to meet impending compliance obligations. 

  • November 14, 2016

    Dozens Of Asset Managers Warned Over Accounting Standards

    The U.K.’s Financial Reporting Council warned Monday that 40 asset managers are at risk of being removed from the U.K. stewardship code if they fail to improve their corporate governance reporting within six months.

  • November 11, 2016

    UK Proposes Payment Systems Co. Insolvency Plan Rules

    The U.K. government unveiled on Friday proposals to modify corporate insolvency rules when dealing with failing payment-systems operators in order to make sure that systemically important functions are kept working.

  • November 11, 2016

    EU Asks For Revisions To Investment Disclosure Rules

    The European Commission on Friday asked financial regulators to amend controversial reforms to packaged retail and insurance-based investment products, days after bowing to pressure from member states to delay the rules.

  • November 11, 2016

    EU Adopts Penalty Rules For Unsettled Securities Trades

    The European Commission adopted a package of legislative acts Friday implementing rules governing the conduct of securities infrastructures, including how financial penalties for unsettled trades are calculated.

  • November 11, 2016

    Top EU Trade Officials Unsure TTIP Will Survive Trump

    The European Union anticipates significant delays in negotiating its free trade deal with the U.S. after Donald Trump’s surprise presidential election victory, with a senior official saying Friday it was uncertain whether talks will go ahead at all.

  • November 11, 2016

    UK's FCA Signs Fintech Agreement With China's Central Bank

    The U.K.’s Financial Conduct Authority signed on Friday a cooperation agreement with the People’s Bank of China as part of the so-called fintech bridge between the two countries, in a bid to share information on promoting innovation in financial services.

  • November 11, 2016

    EU Examines Alternative To Bank-Deposit Protection Fund

    Divisions among European Union member states over sharing bank deposit risk in a single protection fund have added another stumbling block to plans for a European Banking Union, EU lawmakers warned in a new report Friday.