Financial Services Financial News

08.05 / 11:11

cryptocurrency Digital Election Financial Services information reports Financial Majority of Americans See Financial System as ‘Outdated,’ But Remain Skeptical of Crypto as Solution

A recent survey conducted by the Digital Currency Group and The Harris Group has revealed that a majority of Americans in swing states view the financial system as “ outdated. ”

09.02 / 20:30

regulation Financial Services listings Asset Managers shareholders Global investors warn FCA's listings reform will regress shareholder protections

Some of the signatories to the ICGN letter included Allianz GI, AXA IM, Baillie Gifford, Columbia Threadneedle Investments, Impax AM, Jupiter, Newton IM, Robeco and Scottish Widows.

09.02 / 15:27

regulation UK Budget Financial Services listings equities Jeremy Hunt signals interest in potential British ISA launch - reports

Although he is open to the idea, Hunt argued he is still deciding what to include in his upcoming Budget on 6 March. | Credit: Treasury

19.01 / 08:49

regulation Financial Services FCA PRA House of Lords committee Financial House of Lords to set up committee to scrutinise financial regulators - reports

UK financial watchdogs, the Financial Conduct Authority and Prudential Regulation Authority, are already subject to questioning by the House of Commons’ Treasury Select Committee.

16.01 / 14:57

regulation Sustainability Financial Services ESG FCA SDR Support FCA launches sustainability support group for advisers

The FCA will sit as an active observer and has asked the group to report on how the advice sector can be supported in delivering good practice in the second half of 2024.

22.12 / 19:35

regulation Financial Services Wealth managers ESG European Commission Asset Managers Fund managers EFAMA calls for major reforms to SFDR labelling regime

The industry group praised the transparency introduced by SFDR, but said the de facto labelling regime had 'stretched it beyond its original intentions and not always been helpful'.

20.12 / 10:53

regulation Financial Services listings financial conduct authority FCA FCA unveils listings regime proposals to simplify market access for companies

'We are working to strengthen the attractiveness of UK capital markets and supporting UK competitiveness and growth.'

18.12 / 15:50

regulation Financial Services Wealth managers ESG FCA Industry warns of 'tight' implementation timeline for SDR

The new labelling regime is set to become mandatory for firms from 31 December 2024, but they can begin to use them from 31 July next year.

18.12 / 12:54

Financial Services Treasury People moves Financial Treasury names next financial regulators complaints commissioner

The Financial Services and Markets Act 2023 made the Treasury, rather than the regulators, responsible for the appointment of the financial regulators complaints commissioner.

14.12 / 14:41

regulation Financial Services ESG FCA ESG ratings FCA-convened industry group unveils code of conduct for ESG ratings and data providers

The code was set up to provider greater scrutiny and transparency within the ESG ratings and data products space, to provide markets with greater confidence in ESG data, especially considering the current efforts to achieve net zero.

12.12 / 10:03

regulation US Financial Services Wealth managers Signature Bank FDIC US regulator slammed over Signature Bank loan sales - reports

Signature Bank became one of several US regional banks to collapse in March following the failure of Silicon Valley Bank, leaving the FDIC to auction off $33.2bn of its loans.

08.12 / 15:59

regulation Financial Services Treasury Silicon Valley Bank Treasury Select Committee UK to boost bank resolution toolkit after SVB collapse shortcomings - reports

A review of the senior managers regime is also on the table, which would lead to an evolution in the regulations rather than an overhaul. | Credit: iStock

06.12 / 12:17

Government regulation Financial Services Wealth managers financial conduct authority FCA Asset Managers money market FCA sets out proposals to increase liquidity requirements for money market funds

In the consultation, the FCA said it would be significantly increasing the minimum proportion of highly liquid assets that MMFs have to hold.

30.11 / 17:11

regulation Financial Services Investment trusts Treasury Select Committee FCA sets out temporary measures to address investment trust cost disclosure concerns

The FCA acknowledged the concerns that cost disclosures under the EU laws 'may not result in representative cost information being published'.

30.11 / 09:43

regulation companies Financial Services Wealth managers financial conduct authority FCA PRA Allfunds authorisation regulatory Allfunds receives UK regulatory authorisation

The move has been made in anticipation of the end of the Temporary Permissions Regime for UK branches of European Economic Area-regulated firms.

29.11 / 09:38

regulation Financial Services Wealth managers Asset Managers Fund managers FCA proposes 'polluter pays' investment advice redress framework

The FCA said the proposals mean firms will be required to set aside capital so that they can cover compensation costs and 'ensuring the polluter pays when consumers are harmed'.

28.11 / 19:55

regulation Financial Services ESG FCA Asset Managers SDR FCA 'closes loopholes' with introduction of fourth label under SDR but further clarification needed

The rules provide a degree of flexibility for asset managers, which means 'firms will need to make their own judgements about labels, disclosures and data, and anticipate end-consumer outcomes – all of which come with their own challenges'.

28.11 / 14:19

regulation Financial Services financial conduct authority ESG FCA Asset Managers greenwashing strategies FCA unveils final SDR rules including fourth 'Mixed Goals' label for 'blended strategies'

Following feedback, the FCA has also removed the word 'sustainable' from the labels and replaced it with 'sustainability', to reflect how some funds are 'on a journey to becoming sustainable'.

24.11 / 14:05

regulation Microsoft UK Financial Services Government directs Competition and Markets Authority to increase focus on economic growth

The paper came following the CMA’s decision to block the takeover of Activision by Microsoft, which received criticism and was eventually reversed.

22.11 / 16:29

regulation Financial Services Wealth managers financial conduct authority FCA Asset Managers Draft regulations offer FCA powers to restrict short selling in 'exceptional circumstances'

The regulator must post a notice explaining why the measure has been taken, a duration of impact and regularly review the prohibition or restriction.

21.11 / 14:57

regulation fees cryptoassets Financial Services FCA FCA eyes split fee-blocks for principal firms

The proposal could lead to reduced or increased fees, as a result, depending on the business.

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