The UK’s Financial Services will adopt a new disclosure regime for Contracts for Difference, the FSA said Tuesday.The new rules, which will take effect June 1, cover financial instruments, which give a legal right to acquire shares or have a similar economic effect to shares. Under the new regime, shares and such financial instruments will […]
The UK’s Financial Services Authority has published a proposed code of practice concerning the pay policies of financial firms.The draft code aims to “ensure that firms have remuneration policies which are consistent with sound risk management, and which do not expose them to excessive risk”.The regulator stresses that the code does not try to set […]
Additional financial resources necessary to cope with unprecedented challenges, CEO says
Rules on capital adequacy need to be revised, report says
Disclosure requirements for significant short positions should be introduced, UK regulator says
Financial Services Authority to review regulation of banking system
The UK’s Financial Services Authority is welcoming proposals announced by the British government that would give it new statutory powers, including the power to grant immunity, when investigating criminal cases such as insider trading.The proposed change is part of a bill published Tuesday that aims to reform the justice and coroner systems to deliver a […]
The UK’s Financial Services Authority announced that it has levied its largest fine related to financial crime against insurance firm Aon Ltd. for failing to establish controls to prevent overseas bribery and corruption.The FSA said it fined Aon £5.25 million (US$7.9 million) “for failing to take reasonable care to establish and maintain effective systems and […]
The UK’s Financial Services Authority is proposing to extend its temporary disclosure regime for significant net short positions in the stocks of UK financial sector companies until June 30.The FSA is not proposing to renew its ban on short selling of these stocks, but it notes that it is prepared to reintroduce the ban without […]
The British regulator’s significant proposals are aimed at putting an end to clients’ lack of confidence in the industry’s integrity