The Financial Conduct Authority (FCA) has today published a Decision Notice in respect of Mr Arif Hussein, formerly a derivatives trader at UBS in London. This sets out the FCA’s finding that Mr Hussein is not a fit and proper person and its decision to prohibit him from any role in regulated financial services. Mr …
FCA publishes Decision Notice for former LIBOR trader Read More »
The European Securities and Markets Authority (ESMA) has announced today the publication of its first EU-wide stress test exercise regarding Central Counter-parties (CCPs) on 29 April 2016. ESMA is mandated to conduct stress tests of CCPs under the European Markets Infrastructure Regulation (EMIR). The stress test assesses the resilience and safety of the European CCP …
What’s the news? The FCA has published a consultation paper on the availability of information in the UK Equity IPO process (DP 16/3). What is it about? An Initial Public Offering (IPO) occurs when shares in a private company are sold to the public. The details of the proposed offering are disclosed to potential purchasers …
In a nutshell – The FCA and information in the IPO process Read More »
Today the European Insurance and Occupational Pensions Authority (EIOPA) published Preparatory Guidelines on Product Oversight and Governance (POG) arrangements to be followed by insurers (manufacturers of insurance products) and distributors. These Guidelines provide early guidance and support national authorities and market participants with the implementation of POG requirements in preparation for formal requirements provided for …
EIOPA publishes Preparatory Guidelines on Product Oversight and Governance Read More »
The FCA has published today a consultation paper on the availability of information in the UK Equity IPO process (DP 16/3). As part of the FCA’s market study into investment and corporate banking the regulator examined the availability of information during the UK IPO process. The evidence showed that, in the typical UK IPO process, the blackout …
FCA consults on availability of information in the IPO process Read More »
The FCA today published its Occasional Paper No. 15: “Quid pro quo? What factors influence IPO allocations to investors?”. In this paper the regulators seeks to understand if the IPO allocation process works in the interest of issuer clients or whether conflicts of interest mayresult in banks favouring their highest-revenue clients when deciding on final allocations …
FCA briefs on factors influencing IPO allocations to investors Read More »
The European Banking Authority (EBA) published today its Opinion setting out measures credit and financial institutions can take to comply with EU Anti- Money Laundering and Counter-Terrorist Financing (AML/CFT) requirements when providing asylum seekers from higher-risk jurisdictions with access to basic financial products and services. In this Opinion, the EBA highlights that efforts to provide …
EBA briefs on due diligence measures on asylum seekers from high risk countries Read More »
The European Commission published today a proposal that aims to lead towards greater corporate tax transparency by introducing public reporting requirements for the largest companies operating in the EU. The proposal builds on the Commission’s work to tackle corporate tax avoidance in Europe, estimated to cost EU countries EUR 50-70 billion a year in lost …
Commission proposes public tax transparency rules for multinationals Read More »
The European Securities and Markets Authority (ESMA) has today published an Opinion addressed to the European Parliament, the Council and the Commission on the components necessary for a common European framework which applies to loan origination by investment funds. The Opinion, which forms part of ESMA’s ongoing work on the Capital Markets Union, sets out …
ESMA reports on EU framework for loan origination by investment funds Read More »
The European Securities and Markets Authority (ESMA) has published its latest set of semi-annual statistical data on the performance of credit ratings, including transition matrices and default rates. This latest dataset covers the period from 1 July to 31 December 2015 and is available in the Central Rating Repository (CEREP). CEREP provides information on credit …
ESMA publishes updated data on performance of Credit Rating Agencies Read More »
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