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FSA fines Prudential £30 million and censures CEO
27/03/2013
The Financial Services Authority (FSA) has fined companies in the Prudential Group (Prudential) a total of £30 million for breaching FSA Principles and UKLA Listing Principles.
Barriers to entry for new bank entrants relaxed
26/03/2013
The Financial Services Authority (FSA) and the Bank of England have published the results of their review (the Review) into barriers to new entrants to the banking sector.
Despite market noise M&A deals tread water at start of 2013
26/03/2013
The number of M&A deals completed in the first quarter of 2013 fell significantly compared to the record levels seen at the end of 2012, according to data in the latest edition of Towers Watson’s Quarterly Deal Performance Monitor (QDPM).
Cyprus crisis: Will others in the Eurozone suffer the same fate?
26/03/2013
For a bailout designed to keep Cyprus from exiting the Eurozone, it is ironic that the terms appear destined to destabilise the single currency.
FSA finalises proposals for the regulation and supervision of benchmarks
25/03/2013
The Financial Services Authority (FSA) has finalised new rules and regulations for financial benchmarks. This follows the recommendations of the Wheatley Review of the London Inter-Bank Offered Rate (LIBOR).
UK's leading banks make 'huge' collective loss
25/03/2013
The UK’s major banks recorded a rise in core profits of 45% in 2012 – to a combined sum of £31.5 billion – only to see that increase wiped out by a mixture of regulatory fines, customer redress provisions and the accounting consequences of improved creditworthiness which left statutory profits down 40% on the previous year at £11.7 billion, according to KPMG.
Deal reached in Cyprus bailout talks
25/03/2013
Cyprus will remain in the eurozone after a last-minute bailout deal was agreed to save their banking system from collapsing.
FCA business plan and risk outlook published
25/03/2013
The Financial Services Authority (FSA) has published the business plan and risk outlook for the Financial Conduct Authority (FCA), for 2013/14. The FSA will be replaced by the FCA and the Prudential Regulation Authority (PRA) on 1 April 2013.
Fund managers one step closer to tougher bonus rules
22/03/2013
The European Parliament's Monetary Affairs Committee (ECON) voted on the remuneration rules to apply to asset managers who manage UCITS funds.
Next shares slip but profits still rise
21/03/2013
Next have said that despite recent weeks of quiet trading pre-tax profit rose to £666.5m for the year to January, up from £579.5m in the previous 12 months.
