False transaction reports land Deutsche Bank £4.7m fine
The Financial Conduct Authority (FCA) has issued fines of £4,718,000 to investment banking giant Deutsche Bank for incorrectly reporting transactions between November 2007 and April 2013.
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RBS fined £14.5m for “unacceptable” failings
The UK’s Financial Conduct Authority (FCA) has issued fines of £14,474,600 to RBS over “serious failings” in the way that the bank and its Natwest subsidiary sold products to customers.
Hackers could be plotting financial markets attack, says watchdog
Cyber attacks could be the next “black swan” event to cause chaos in the financial markets, according to the International Organisation of Securities Commissions (IOSCO).
Compliance failures cost Standard Chartered $300m
The UK’s Standard Chartered bank has been fined $300m by US authorities, just two years after the same regulators issued fines of $340 for breaking sanctions with Iran.
US banks to flee UK if it leaves the EU, say insiders
US banks including Citigroup, Bank of America and Morgan Stanley are preparing to move their European operations out of the UK should the country leave the EU, according to the Financial Times.
Expanding role of treasury creates staffing black hole, says AFP
Corporate treasurers are increasingly expected to deal with everything from credit and insurance to human resources, making it hard to find and keep qualified staff, the Association for Financial Professionals has claimed.
More work and more pay for City of London finance professionals
The number of jobs advertised in London’s financial district has risen by a third over the past year, according to figures published by Morgan McKinley, with advertised salaries also up by 20% on average.
UK government explores Bitcoin potential
Chancellor George Osborne has commissioned a report from the UK Treasury into the role that digital currencies could play in the country’s financial system, building on Britain’s reputation as “one of the most attractive jurisdictions for Bitcoin businesses.”
Risk averse staff are losing us money, says HSBC
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.
US proposes new finance law to “pierce the corporate veil”
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.
