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European Parliament Negotiators Rescue Seriously Damaged Bank Resolution System

Date 20/03/2014

European Parliament negotiators on Thursday reached a deal with their member state counterparts on the single resolution mechanism to deal with failing banks. Many elements fell into place early in the morning after 16 hours of talks. The elements agreed will help to ensure that the system cannot become a hostage to political power games and can deliver swift and credible decisions.
Matteo Andreetto Joins STOXX Limited As Global Head Of Sales

Date 20/03/2014

STOXX Limited, a leading provider of innovative, tradable and global index concepts, today announced that Matteo Andreetto has joined the company as global head of sales, effective immediately.

Clearstream’s February 2014 Figures: Clearstream’s Assets Under Custody Increase By 6 Percent Year-On-Year And Reach EUR 12.1 Trillion Record - Continued Growth Across All Business Areas: In Custody, Settlement, Global Securities Financing Including Collateral Management And Investment Funds Services - Jeffrey Tessler: “Figures Show Early Customer Support Of Our T2S Strategy”

Date 20/03/2014

In February 2014, the value of assets under custody held on behalf of customers registered an increase of 6 percent to EUR 12.1 trillion (compared to EUR 11.4 trillion in February 2013). Securities held under custody in Clearstream’s international business as international central securities depository (ICSD) increased by 5 percent from EUR 6.1 trillion in February 2013 to EUR 6.4 trillion in February 2014, while domestic German securities held under custody in the German central securities depository (CSD) increased by 7 percent from EUR 5.4 trillion in February 2013 to EUR 5.7 trillion in February 2014.

UK's Financial Conduct Authority Winds Up A Boiler Room

Date 20/03/2014

On 18 March 2014, the High Court made a winding up order against First Capital Wealth Limited (FCW) and the Official Receiver became the liquidator of the company whose duties include safeguarding assets and deciding whether to call a meeting of creditors.
European Parliament And Council Back Commission's Proposal For A Single Resolution Mechanism: A Major Step Towards Completing The Banking Union

Date 20/03/2014

President of the European Commission, José Manuel Barroso said: Today's political agreement on the single resolution mechanism completes our banking union. This will strengthen confidence and stability in the financial markets and help restore lending to the economy. We promised to do this before the European Parliament elections. I'm delighted we have delivered.

Autilla Establishes Precious Metal OTF With Multi-Asset Solution From Cinnober

Date 20/03/2014

For the global precious metals marketplace, Autilla Ltd. today announces the selection of TESS Connect & Go from Cinnober Financial Technology as its platform to migrate its precious metals Over-the-Counter (OTC) broking onto a proven electronic trading platform.
UK's Financial Conduct Authority Bans And Fines Trader GBP 662,700 For Manipulating Gilt Price During Quantitative Easing

Date 20/03/2014

Mark Stevenson, a bond trader with nearly 30 years' experience, has been banned from the industry and fined £662,700 for deliberately manipulating a UK government bond (gilt) on 10 October 2011.
The UK Financial Conduct Authority Publishes Review Into Delivering ‘Independent’ Financial Advice Following The Implementation Of The Retail Distribution Review

Date 20/03/2014

A thematic review published today by the Financial Conduct Authority (FCA) shows that most advisory firms describing their service as ‘independent’ appeared to use the description accurately. The FCA is also clarifying certain issues to provide further support for those firms that remain unsure what standards they must meet to be able to call themselves ‘independent’.
European Parliament And Council Back Commission's Proposal For A Single Resolution Mechanism: A Major Step Towards Completing The Banking Union

Date 20/03/2014

President of the European Commission, José Manuel Barroso said: Today's political agreement on the single resolution mechanism completes our banking union. This will strengthen confidence and stability in the financial markets and help restore lending to the economy. We promised to do this before the European Parliament elections. I'm delighted we have delivered.
Council Of The European Union: Statement By Minister Yannis Stournaras On The Single Resolution Mechanism

Date 20/03/2014

The Hellenic Presidency this morning reached a provisional agreement with representatives of the European Parliament on the Single Resolution Mechanism regulation. This was done in conjunction with the valuable input and contributions by the Chair of the IGC at Ministerial level, Jeroen Dijsselbloem, on the aspects of the Single Resolution Fund, which was intrinsic in reaching the overall agreement.