LONDON (Reuters UK) - Britain's financial watchdog will introduce stronger disclosure rules on derivative positions used to build stakes in companies, responding to calls for greater market transparency. After receiving feedback on a consultation paper published in November, the Financial Services Authority FSA said it...
LONDON (Reuters UK) - The Financial Services Authority said on Tuesday it has warned mortgage lenders about the risk of fraud as the economy worsens and has outlined its own plans to tackle financial crime. The FSA wrote to associations including the Council of Mortgage...
LONDON (Reuters UK) - Lenders that receive support from the Bank of England may be allowed to delay revealing the information to the market to avoid alarming consumers and exacerbating their problems, the financial watchdog said. Like all listed companies, banks are normally required to ...
By Sudip Kar-Gupta AIX-EN-PROVENCE, France (Reuters UK) - The chairman of Financial Services Authority FSA said the regulator was closely monitoring Bradford & Bingley BB, the bank whose shares have slumped on concern about its business plan. Bradford & Bingley (B&B) on Friday increased its rights...
The FSA's Principles for Businesses include a requirement for adequate risk management systems. These include systems for managing Operational Risk OR. This paper sets out the findings from the authors' review of OR management practices in eight firms. The purpose of this paper is to enhance industry awareness. The aim...
Ombudsman reverses decision of five years ago and calls for compensation for insurer's victims The Financial Services Authority will be dealt yet another hefty blow to its credibility today, as the Parliamentary Ombudsman, Ann Abraham, reverses her decision of five years ago and accuses it of maladministration...
LONDON, July 15 /PRNewswire-FirstCall/ -- ICE Clear EuropeTM, a wholly-owned subsidiary of IntercontinentalExchange , today announced that it has reached agreement with LCH.Clearnet LCH and Members on the transition date for the movement of all ICE Futures EuropeTM and ICE over-the-counter OTC trading positions from LCH to ICE Clear...
Whom should we have blamed for the collapse of Northern Rock? Or whom should we criticise for the near collapse of Bradford & Bingley the other day, leaving it to be rescued by its largest shareholders? Fingers are pointed at the regulators, the Financial Services Authority FSA and the Bank...
New financial services group launched *Alistair Darling is to announce the launch of a new financial services global competitiveness group, which will aim to ensure that London maintains its place as one of the world's leading financial centres. The group will be jointly chaired by Sir Win...
MORTGAGES City regulator the Financial Services Authority FSA has continued its clean-up of the mortgage advice market. Last week, for the first time, the FSA fined and banned two mortgage brokers. The first to feel the regulator's wrath was Sadia Nasir from Ilford-based House...
Risk Consulting Leader to Address Year One Compliance MENLO PARK, Calif., July 10 /PRNewswire/ -- WHAT: Join experts from Protiviti - a leading global provider of independent risk consulting and internal audit services - for a...
Protherics PLCNotification of Director's InterestsLondon, UK; Brentwood, TN, US: 10 July 2008 - Protherics PLC("Protherics" or the "Company"), the international biopharmaceuticalcompany focused on critical care and cancer, in accordance withSections 3.1.4R of the FSA Disclosure and TransparencyRules, announces that 916,202 ordinary shares (the "Shares") were issued to Jacques Gonella, Non-executive...
Outlook It's not just me and the FSA who think short selling a thoroughly suspect activity. No less a figure than Jamie Dimon, chief executive of JP Morgan Chase and a Wall Street legend in his own right, has also been sounding off about it even though...
LONDON, July 7 /PRNewswire-FirstCall/ -- ICE Clear EuropeTM, a wholly-owned subsidiary of IntercontinentalExchange , today announced that it has reached consensus with LCH.Clearnet LCH on the technical issues to facilitate the movement of all ICE Futures EuropeTM and ICE over-the-counter OTC trading positions from LCH to ICE Clear Europe....
Outlook Believe it or not, there are some positives to be drawn from the debacle that is Bradford & Bingley. One is that despite the lily- livered behaviour of Texas Pacific Group, an alternative recapitalisation on almost exactly the same terms has been quickly put in place...
Regulators' intervention triggered TPG walk-out Rights issue at risk as shares slide 18% The Financial Services Authority and the Bank of England encouraged Texas Pacific Group TPG to walk away from buying a 179m stake in Bradford & Bingley, it emerged yesterday, believing they had secured...
The chairman-designate of the Financial Services Authority, Turner of Ecchinswell, told MPs yesterday: "However hard one tries, something will go wrong." Lord, formerly Adair, Turner was giving evidence to the Treasury Select Committee. He is due to take over as Chairman of the FSA in September. He...
The UK's financial watchdog has targeted hedge funds for the second time this month, demanding more disclosure for those trying to build anonymous stakes in companies using a complex derivative, in a bid to combat market failure. The move to force disclosure of contracts for difference CfDs,...
Business News IN BRIEF *Britain's financial services watchdog fined a former employee of Body Shop 85,000 for market abuse, it said yesterday. The Financial Services Authority FSA said John Shevlin, a former IT worker for the cosmetics retailer, obtained advance warning of the retailer's worse-than-expected performance during...
Moves to learn the lessons of the humiliating run on Northern Rock last autumn were announced by the "tripartite authorities" yesterday. Aiming to produce a "world-class" regulatory system, the Bank of England, the Treasury and the Financial Services Authority jointly agreed on a range of moves aimed at strengthening each...
