14th October 2016
The biggest acquisition in the asset-management industry this year began with a casual conversation between chief executive officers in February about how firms in Europe will be forced to charge their clients for managing money. The deal — a $2.6 billion merger between Henderson Group Plc and Janus Capital Group… Read More
14th October 2016
The Obama administration, in its latest bid to prevent American companies from minimizing U.S. taxes by rebasing abroad, issued final rules on Thursday to combat a key tax-reduction technique known as earnings stripping. Six months after proposing the regulations, the U.S. Treasury made good on its pledge to move swiftly… Read More
14th October 2016
China’s cabinet and major financial regulators on Thursday published details of rules aimed at stamping out fraud and illegal fundraising in the country’s fast-growing online finance sector. The State Council document, which dates from April, provides guidelines and more far-reaching oversight for regulation of online financial activity, including peer-to-peer (P2P)… Read More
13th October 2016
The Swiss financial system is susceptible to money laundering with the number of cases rising over the past five years, warns the head of Switzerland’s financial regulatory body, FINMA. “The risk of money laundering in Switzerland has increased these past five years,” FINMA boss Mark Branson told the Tribune de… Read More
12th October 2016
AIB, Bank of Ireland and Permanent TSB face having to pay an extra €6.5 million between them this year to cover the cost of being regulated by the Central Bank of Ireland. This emerges in the Central Bank’s guide to funding regulations for 2016, which shows that its budget for… Read More
11th October 2016
Prime Minister Andrew Holness has called on the financial sector to ensure a regulatory environment that removes profitability from criminal activities. “We must take the profit out of crime. Criminals must have no access to the financial system; and where they operate in the informal economy and the backwaters of… Read More
5th October 2016
Around a year ago, the government of Jersey, a British Crown dependency, announced its intention to look at regulation for the activity of digital currency exchanges. While they said at the time they did not want to impose an oversight heavy licensing system such as that favored by New York,… Read More
5th October 2016
The draft Financial Services Innovation Act was recently introduced before the US House of Representatives. If passed in its present form, the Bill would require a number of US financial regulators to set up a Financial Services Innovative Office and each identify areas of existing regulation that they might waive… Read More
29th September 2016
The top two U.S. securities regulators on Tuesday outlined rule proposals ranging from asset management to swaps dealing they will take up in coming months, indicating the agencies will be at full throttle through election season to the end of the year. The Securities and Exchange Commission and Commodity Futures… Read More
28th September 2016
Some banks are fudging which staff are ultimately responsible for decisions, contravening a new regime designed to make it easier to apportion blame if something goes wrong, Britain’s top market regulator said on Wednesday. The senior managers regime (SMR) was introduced in March to replace a previous system that lawmakers… Read More