News Centre

UK’s Financial Conduct Authority Bans Four For 'Disgraceful' Failings In Relation To Occupational Pension Schemes

Date 19/12/2013

Three men have been banned from working in the financial services industry by the Financial Conduct Authority (FCA); and another has been banned from holding key positions. This follows a review of CBW Trustees Limited and CBW Pensions Forensics Limited (collectively CBW) by the Pension Regulator (TPR) which found serious flaws in CBW’s conduct.

EBA Consults On The Minimum Amount Of Professional Indemnity Insurance For Mortgage Credit Intermediaries

Date 19/12/2013

The European Banking Authority (EBA) launched today a public consultation on a draft Regulatory Technical Standard (RTS) on the minimum monetary amount of the professional indemnity insurance or comparable guarantee for mortgage credit intermediaries. These RTS refer to Article 29(2)(a) of the proposed Directive on credit agreements relating to immovable residential property (Mortgage Credit Directive - MCD).

NICE Actimize Recognized As Single “Category Leader” For Financial Crime Solutions By Chartis In 2014 RiskTech100® Rankings - Chartis Financial Crime Category Highlights Leadership In Anti-Fraud, Anti-Money Laundering And Trade Surveillance Technology Offerings

Date 19/12/2013

NICE Actimize, a NICE Systems (NASDAQ:NICE) business and the industry's largest and broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, announced today that Chartis has recognized NICE Actimize as the category leader for financial crime risk management technology in its recently released 2014 RiskTech100® rankings. The category encompasses anti-fraud, anti-money laundering and trade surveillance, technology solutions. Chartis provides research and analysis on the global market for risk management technology.

UBS MTF Trading Holidays

Date 19/12/2013

UBS MTF will be closed on the following days during the Christmas period:

• Wednesday, 25 December 2013
• Thursday 26, December 2013
• Wednesday, 1 January 2014

European Warning On Virtual Currencies

Date 19/12/2013

Consumers have been warned of the possible risks from buying, trading or holding virtual currencies such as Bitcoins by a European financial regulator.

UK's Financial Conduct Authority Statement Regarding Swift Trade Court Of Appeal Judgment

Date 19/12/2013

On 19 December, the Court of Appeal handed down its judgment on the appeal by the Canadian company formerly known as Swift Trade Inc and its former director Peter Beck, who had appealed against a decision of the Upper Tribunal (Tax and Chancery Chamber) issued in January 2013 finding that Swift Trade had engaged in deliberate market abuse.

ISDA Research Note: Footnote 88 And Market Fragmentation - An ISDA Survey - Swap Execution Facilities

Date 19/12/2013

Earlier this year, the US Commodities Futures Trading Commission (CFTC) required that swap execution facilities (SEFs) with temporary SEF registration status come into full compliance with all applicable SEF rules beginning on October 2, 2013.

Tribunal Bans Former Trader For Lying To The UK’s Financial Conduct Authority And The Tribunal

Date 19/12/2013

The Upper Tribunal (Tax and Chancery Chamber) has directed the Financial Conduct Authority (FCA) to ban former derivatives trader David John Hobbs from performing any role in regulated financial services.

Commissioner Michel Barnier's Remarks At The ECOFIN Council Press Conference

Date 19/12/2013

Today is a momentous day for banking union. A memorable day for Europe's financial sector.

Progress made in recent days on the Single Resolution Mechanism and a whole host of financial files is unprecedented.

Egyptian Financial Supervisory Authority And Egyptian Exchange Sign An Agreement To Exchange Data Between Them

Date 19/12/2013

The Egyptian Exchange (EGX) and The Egyptian Financial Supervisory Authority (EFSA) signed a cooperation agreement for exchange of regulatory reporting, data and information electronically.