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.
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.
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).
For a bailout designed to keep Cyprus from exiting the Eurozone, it is ironic that the terms appear destined to destabilise the single currency.
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).
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.
Cyprus will remain in the eurozone after a last-minute bailout deal was agreed to save their banking system from collapsing.
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.
The European Parliament's Monetary Affairs Committee (ECON) voted on the remuneration rules to apply to asset managers who manage UCITS funds.
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.