Deferred litigation costs boost Deutsche Bank results
Germany’s biggest bank has deferred significant legal costs into 2015, unexpectedly boosting fourth quarter 2014 results.
Regulation & Compliance
BoE strives to calm insurance jitters
With the Solvency II regime set to roll out across Europe, the Bank of England (BoE) is seeking to reassure the UK’s major insurance companies over the impact this will have on their business.
BBA calls for UK government to embrace cryptocurrencies
The government should be careful not to crush emerging cryptocurrencies with excessive regulation and should focus on the benefits that these digital alternatives bring to customers, according to a new report by the BBA.
$1 billion legal bill for fine-magnet JP Morgan
A slew of fines by regulators saw JP Morgan’s legal costs mount to $2.9 billion last year, with an unexpectedly high $1 billion bill for the fourth quarter of 2014.
MasterCard reaches deal on Russian payment processing
MasterCard has reached a deal with Russian authorities to process payments using the country’s state-owned system.
Fast food giant hit by possible payments breach
Fast food chain Chick-fil-A is the latest company to be plagued by security issues at payment terminals, with financial institutions reportedly tracing suspicious activity back to a string of outlets in the US.
CEOs struggle to see value of risk professionals, finds study
Audit, risk management and compliance professionals face an uphill battle when it comes to getting their bosses to see the value of their work.
Credit rating agencies lack transparency, says ESMA
Surveillance of structured finance credit ratings is lacking at all four of Europe’s leading rating agencies, the European Securities and Markets Authority (ESMA) has concluded after a year-long investigation.
City watchdog under attack for press leak
FCA chief Martin Wheatley is likely to find himself in the firing line today after a damning report is released on the regulator’s leak of sensitive information to the press.
HMRC clawbacks disproportionately hit smaller firms
HM Revenue and Customs recovered a record £3.9 billion in extra VAT from compliance investigations into small businesses over the last year, marking a 10% increase on the previous 12 months.
