News Centre

BBA Comment On BoE Announcement On Remuneration

Date 30/07/2014

Responding to the Bank of England announcement on responsibility and accountability in the banking sector, Anthony Browne, chief executive of the BBA, said:

“One banker rewarded for failure is one too many. That’s why banks have already taken steps to right the wrongs of the last decade, cutting cash bonuses by more than 75% and fixing rewards more closely to the long-term health of the business. We also agree that clawbacks can certainly be a useful way to discourage wrongdoing and are in the interests of customers and shareholders."

UK's Financial Conduct Authority: Financial Incentives For Whistleblowers

Date 30/07/2014

As part of our response to the PCBS recommendations we agreed to conduct further research into the impact of financial incentives on encouraging whistleblowing in the US, working with the Treasury and the Department for Business, Innovation and Skills (BIS), and to publish the conclusions.

PEGAS To Launch Spot Contracts For NBP

Date 30/07/2014

PEGAS, the joint natural gas platform of EEX and Powernext, will further expand its product portfolio with Spot Market contracts for the British National Balancing Point (NBP). The new product is scheduled to be launched on 15 October 2014.

Tribunal Upholds UK Financial Conduct Authority Decision To Fine And Ban Former Hedge Fund CEO Alberto Micalizzi

Date 30/07/2014

The Upper Tribunal has published a judgment dismissing Micalizzi’s appeal and upholding the decision of the Financial Conduct Authority (“the Authority”) that Micalizzi failed to act with integrity in carrying out his functions in connection with his role at Dynamic Decisions, a now defunct hedge fund. The Tribunal directed the FCA to impose a penalty on Micalizzi of £2.7 million (reduced from £3 million) and a full prohibition.  

Mercado Alternativo De Renta Fija Admits To Trading A €21 Million Issue By Audax Energía

Date 30/07/2014

The Mercado Alternativo de Renta Fija (MARF) today admitted a new unsecured bond issue by the electricity company Audax Energía, to the value of €21 million.

HKEx Forfeiture Of Unclaimed Interim Dividend For 2008

Date 30/07/2014

Pursuant  to  the  Articles  of  Association  of  Hong  Kong  Exchanges  and  Clearing  Limited (“HKEx”), the unclaimed interim dividend for 2008 will be forfeited and will revert to HKEx on 11 September 2014.

Shanghai Stock Exchange: Symposium For 5th Anniversary Of Founding "On Securities Laws" Held In Beijing

Date 30/07/2014

A symposium for the 5th anniversary of the founding of "On Securities Laws", a periodical founded by the Shanghai Stock Exchange (SSE), was held in Beijing on July 26, 2014. Among those attending were officials and famous experts from the Finance and Economic Committee of the National People's Congress, the China Securities Regulatory Commission, the All-China Lawyers Association, the China Civil Law Society, the China Commercial Law Society, the China Economic Law Society, the China Securities Law Society, Peking University, Tsinghua University, Renmin University of China, the Institute of Law of the Chinese Academy of Social Sciences, East China University of Political Science and Law, Zhejiang University, and Xiamen University. The process of founding the periodical was reviewed at the symposium, with some suggestions on improvements put forward as well.

Confisio And Dion Global Solutions Launch Collateral Valuation Solution

Date 30/07/2014

Confisio Managed Services Ltd (Confisio), a premier supplier of customized turnkey solutions to the financial services industry, today announced that it is launching a collateral valuation solution in conjunction with Dion Global Solutions (Dion) and Traiana. The new solution will be available across all asset classes for exchange traded and OTC derivatives and builds on Confisio’s successful EMIR trade reporting collaboration with Traiana. 

Bank of England: Prudential Regulation Authority And Financial Conduct Authority Consult On Proposals To Improve Responsibility And Accountability In The Banking Sector

Date 30/07/2014

The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have today published two joint consultation papers aimed at improving individual responsibility and accountability in the banking sector.

Cashfac Strengthens Leadership Team With New Deputy CEO And Global Managing Director - Richard Cummings And Alastair McGill Join To Accelerate Global Business

Date 30/07/2014

Cashfac Technologies, a global leader in Cash Management solutions, today announced that it has appointed Richard Cummings as Deputy CEO and Alastair McGill as Managing Director of Global Business. Based in London, Richard and Alastair will report to Paul Ormrod, Founder and Chief Executive of Cashfac.