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Financial Services Regulation

This network is for financial professionals interested in staying up to date on financial services regulation happening anywhere in the world. CFOs, bankers, fund managers, treasurers welcome.

originally founded 01 Jul 2010

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Retired Member

Mobile recording: Should compliance officers be frightened?

Last week saw the UK Financial Service Authority’s (FSA) latest win in its war against market abuse when it announced that it had imposed an £8m fine on Swift Trade for layering—a practice of placing large orders that the trader has no intention of completing. This is the eleventh insider-dealing conviction since March 2009 when Hector Sants, the F...

06 September 2011 /wholesale

Gaurav Handa Director Marketing at Oracle Financial Services

The Road to Basel III: Navigating the Curves Ahead

Financial institutions in Europe and North America will be eager to turn the page on August. Far from the anticipated doldrums of summer, we witnessed a return to stomach-churning market volatility, fueled in part by growing concerns about sovereign solvency and banks’ exposure to sovereign debt. The return to volatility, coming on the heels of t...

02 September 2011 /regulation

Retired Member

Summer time and the trading is easy... next year

FSA mobile recording compliance and the working holiday. It’s August and the City has that almost peaceful summer feel, as its workers migrate to hotter climes for their “Worlidays”. Worlidays, a name created by Lucy Kellaway describes the sort of holidays many of us take these days, not least traders and customer teams in investment banking: not ...

31 August 2011 /wholesale

Gaurav Handa Director Marketing at Oracle Financial Services

European Banks Prepare for Possible Basel III Redux

It has been said, “Those who fail to learn from history are doomed to repeat it,” and as recent events have demonstrated, many European banks held too little loss-absorbing capital to allow for the risks being run not only in extreme adverse conditions, but in some of the more vanilla activities, as well. The Irish mortgage market is a prime examp...

05 August 2011 /regulation

Retired Member

EU cracks down on market abuse while US leaves the door open

Earlier this month the Financial Times reported that UK market regulators fined a commodities broker for “market abuse” for the first time—a sign that the Financial Services Authority is cracking down on price manipulation. (http://on.ft.com/iuSz1S) In the US, the banking industry has been captivated by last month’s prosecution of Raj Rajaratnam of...

25 June 2011 /regulation

Gaurav Handa Director Marketing at Oracle Financial Services

Get Ready for a Macroprudential Approach to Regulation

Fed seeks annual U.S. bank stress tests. In his recent address at the 47th Annual Conference on Bank Structure and Competition, Chicago, Chairman Bernanke spoke of initiatives on both sides of the pond to implement a macroprudential approach to financial services supervision and regulation. The Financial Stability Oversight Council (FSOC) and

20 May 2011 /regulation

Retired Member

Mobile recording: now is time to act

So, after all the expectation, it’s happened. With its Revised Policy Statement (10/17), the Financial Services Authority (FSA) has removed the initial exemption for mobile calls and texts. As of 14 November 2011, therefore, financial service businesses must record all relevant electronic communications involving the giving of advice or taking o...

24 February 2011 /payments /sibos

Retired Member

U.S. Presidential Report Extends Uncertainty for Money Funds

The President’s Working Group on Financial Reform issued an unusually inconclusive report on Money Market Mutual Funds. Published thirteen months after it was originally expected, the report simply encourages the newly formed Financial Services Oversight Committee to take up the matter. Treasury Strategies partner, Anthony J. Carfang, notes that

22 October 2010 /payments /sibos