The Bank of England may need to become more involved in managing the market to cope with ever-increasing business cycles in financial services, Chief Economist Andy Haldane has warned.
As revenues and share prices plummet, HSBC’s Chairman Douglas Flint has attributed the bank’s shaky results to a nervous and over-regulated workforce.
Members of the US Federal Financial Institutions Examinations Council (FFIEC) are being urged to include cybersecurity in exams sat at more that 500 community institutions, including credit unions, it has been revealed.
In a fresh attempt to fight financial crime, the US Treasury has proposed a new rule that will force financial institutions to identify the beneficial owners of companies when they open accounts.
The ability to handle multiple currencies is a major driver of globalisation and as electronic channels replace telephone-based trading, speed and execution quality is increasing – but so is regulatory oversight. Treasurers getting to grips with new FX trading platforms should focus on three main areas, says Jim Kwiatkowski of Thomson Reuters.
The financial services provider Midcountry Financial has revealed its choice of MetricStream’s GRC platform for risk management and compliance.
The agency said in a statement: “The Director of the Serious Fraud Office has today opened a criminal investigation into allegations of fraudulent conduct in the foreign exchange market.”
Numerous AIFs remain unauthorised to operate under the new directive that comes into force tomorrow a survey has revealed, while many sub-threshold managers feel pressured to apply despite high cost of compliance.
SIX Exchange Regulation is opening an investigation against Accu Holding AG regarding a potential violation of reporting obligations.
The Federal Financial Institutions Examination Council (FFIEC) of America has now issued its final supervisory guidance on using social media without breaching current compliance and risk management regulations.
