Liikanen report on the structure of EU banks 04 Oct 2012 The Liikanen expert group (see Daily New 24 February 2012 has published its report on structural change in the EU banking sector. The main recommendations are: • Mandatory separation of proprietary trading and other high-risk trading activities. Proprietary trading and all assets and derivatives […]

Commission initiatives for the remainder of 2012 04 Oct 2012 The European Commission has published an updated table containing estimated dates for the issue of a number of legislative initiatives and non-legislative acts for the period from 27 September to 31 December 2012 including: • proposal for a Directive on the prevention of the use […]

FSA consults on regulatory reform regarding approved persons 04 Oct 2012 The FSA, in consultation with the Bank of England, has issued a consultation paper (CP12/26) entitled “Regulatory reform: the PRA and FCA regimes for Approved Persons”. The paper is designed to assist the Prudential Regulatory Authority (PRA) and the Financial Conduct Authority (FCA) to […]

FSA financial crime newsletter – focus on anti-bribery and corruption risks04 Oct 2012 The FSA has published the sixteenth edition of its financial crime newsletter. The FSA’s “Core Financial Crime Programme” launched in its previous financial crime newsletter will be expanded to include anti-bribery and corruption risks from the middle of next year. The programme […]

FSA and other investigating agencies agree guidelines on mortgage investigations04 Oct 2012 The FSA, Office of Fair Trading, Local Authorities Co-ordinating Body on Food and Trading Standards, and the Trading Standards Service of the Department of Trade and Investment for Northern Ireland (agencies) have agreed guidelines to assist their investigations into suspected criminal breaches and […]

Shadow home secretary calls for new laws to tackle financial crime 04 Oct 2012 … an investigation by US and British regulators. Martin Wheatley, head of conduct at the Financial Services Authority, published his report on the Libor-rigging scandal last month and recommended a new specific offence for manipulating the borrowing … Yvette Cooper, speaking […]

The Financial Services Authority (FSA) has charged four men with conspiracy to insider deal between 1 November 2006 and 23 March 2010. 04 Oct 2012 Martyn Dodgson, a senior corporate broker, Andrew Hind, Benjamin Anderson and Iraj Parvizi have been bailed to attend Westminster Magistrates’ Court on 19 October 2012. The charges are related to […]

London is the ‘global capital of money-laundering’ 04 Oct 2012 It will all come out in the wash: Private Eye follows the money.Britain is still the money-laundering capital of the world, according to a special six-page investigation published in this fortnight’s Private Eye. Richard Brooks, a former tax inspector responsible for Private Eye’s groundbreaking exposés […]