Financial Services Authority http://www.globalpost.com/taxonomy/term/26611/all en New UK market watchdog head lacks experience - lawmakers http://www.globalpost.com/dispatch/news/thomson-reuters/130117/new-uk-market-watchdog-head-lacks-experience-lawmakers <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Huw Jones</p> <p>LONDON, Jan 18 (Reuters) - The head of Britain's new financial watchdog lacks adequate experience in the core role of protecting consumers and will need to demonstrate he will improve choice, British lawmakers said.</p> <p>The Financial Conduct Authority (FCA) formally starts in April as part of a shake up of supervision designed to plug gaps and failings highlighted by the financial crisis.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130117/new-uk-market-watchdog-head-lacks-experience-lawmakers" target="_blank">read more</a></p> Economy of the United Kingdom Financial Services Authority Labor United Kingdom Thomson Reuters Fri, 18 Jan 2013 00:30:48 +0000 5735900 at http://www.globalpost.com UPDATE 1-UK upholds record market rigging fine for Swift Trade http://www.globalpost.com/dispatch/news/thomson-reuters/130128/update-1-uk-upholds-record-market-rigging-fine-swift-trade <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Huw Jones</p> <p>LONDON, Jan 28 (Reuters) - A British court has upheld the Financial Services Authority's 8 million pound ($13 million) fine for Canadian trading firm Swift Trade, the British watchdog's largest penalty for market manipulation.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130128/update-1-uk-upholds-record-market-rigging-fine-swift-trade" target="_blank">read more</a></p> Economy of the United Kingdom Financial Services Authority Financial Services Authority Social Issues Swift Trade United Kingdom Thomson Reuters Mon, 28 Jan 2013 12:30:36 +0000 5740437 at http://www.globalpost.com UK regulator slams cost of Europe's new insurance rules http://www.globalpost.com/dispatch/news/thomson-reuters/130207/uk-regulator-slams-cost-europes-new-insurance-rules <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Sarah Mortimer</p> <p>LONDON, Feb 7 (Reuters) - A senior official at Britain's financial watchdog said the "shocking cost" of Europe's new solvency regulations could not be justified, given that they are expected to total billions of pounds to implement.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130207/uk-regulator-slams-cost-europes-new-insurance-rules" target="_blank">read more</a></p> Financial Services Authority Investment Solvency II Directive Thomson Reuters Thu, 07 Feb 2013 13:30:40 +0000 5748827 at http://www.globalpost.com EXCLUSIVE-UPDATE 2-Santander UK probed over flawed advice-sources http://www.globalpost.com/dispatch/news/thomson-reuters/130213/exclusive-update-2-santander-uk-probed-over-flawed-advice-sourc <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* FSA says refers a bank for enforcement action</p> <p>* Santander UK could face fine or license changes -sources</p> <p>* Santander UK reviews advice unit, 800 jobs at risk (Adds Santander reviews unit's future, jobs at risk)</p> <p>By Steve Slater and Kirstin Ridley</p> <p>LONDON, Feb 13 (Reuters) - Santander's British arm is under investigation for possible investment advice failures and could face a fine or license changes that prevent it from offering such services in future, four industry sources said.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130213/exclusive-update-2-santander-uk-probed-over-flawed-advice-sourc" target="_blank">read more</a></p> Economy of the United Kingdom Financial Services Authority United Kingdom Thomson Reuters Wed, 13 Feb 2013 15:34:38 +0000 5754590 at http://www.globalpost.com UPDATE 3-Three men arrested in UK insider dealing probe http://www.globalpost.com/dispatch/news/thomson-reuters/130227/update-1-three-men-arrested-london-insider-dealing-probe <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>LONDON, Feb 27 (Reuters) - Three fund management employees have been arrested in London on suspicion of insider dealing and market abuse after police and regulators launched dawn raids on their homes and offices in the capital, the second such swoop this year.</p> <p>Britain's Financial Services Authority (FSA) said on Wednesday the three men, aged 33, 37 and 39, who are not linked to any other current insider dealing investigation, were in custody awaiting questioning after six premises were searched.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130227/update-1-three-men-arrested-london-insider-dealing-probe" target="_blank">read more</a></p> Business Corruption Economy of the United Kingdom Financial crimes Financial Services Authority Insider trading Labor Law Social Issues United Kingdom Thomson Reuters Wed, 27 Feb 2013 11:30:54 +0000 5768288 at http://www.globalpost.com It was impossible to spot Libor rigging - UK watchdog http://www.globalpost.com/dispatch/news/thomson-reuters/130227/it-was-impossible-spot-libor-rigging-uk-watchdog <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Turner hits out at traders' "computer game" mentality</p> <p>* says FSA was "too slow" in tackling PPI mis-selling</p> <p>By Huw Jones</p> <p>LONDON, Feb 27 (Reuters) - Regulators could not have spotted the "lowballing" of Libor interest rates during the financial crisis even if they had looked, Britain's Financial Services Authority said.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130227/it-was-impossible-spot-libor-rigging-uk-watchdog" target="_blank">read more</a></p> Economy of the United Kingdom Financial Services Authority United Kingdom Thomson Reuters Wed, 27 Feb 2013 14:15:52 +0000 5768492 at http://www.globalpost.com FSA to crack down on use of investor cash for CEO access -FT http://www.globalpost.com/dispatch/news/thomson-reuters/130304/fsa-crack-down-use-investor-cash-ceo-access-ft <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>March 4 (Reuters) - Britain's Financial Services Authority is set to go after asset managers using investors' money to pay for access to chief executives, the Financial Times reported on Monday.</p> <p>The FSA's head of asset management, Ed Harley, raised the possibility that asset managers found to be in breach of its rules would have to pay multimillion-pound fines, the Financial Times said on its website.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130304/fsa-crack-down-use-investor-cash-ceo-access-ft" target="_blank">read more</a></p> Economy of the United Kingdom Financial Services Authority Financial Services Authority Technology United Kingdom Thomson Reuters Tue, 05 Mar 2013 01:31:12 +0000 5773398 at http://www.globalpost.com Banks brace for news on competition and capital http://www.globalpost.com/dispatch/news/thomson-reuters/130322/preview-banks-brace-news-competition-and-capital <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Huw Jones</p> <p>LONDON (Reuters) - Britain's banks discover next week how much extra capital they need to keep regulators happy and how much of a head start new entrants in the sector will get.</p> <p>The Bank of England's Financial Policy Committee, tasked with spotting system-wide risks, will announce on Wednesday the outcome of an inquiry into capital levels at British banks.</p> <p>Britain's banking supervisor Andrew Bailey has been checking how banks tot up risks on their books to determine overall capital requirements.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130322/preview-banks-brace-news-competition-and-capital" target="_blank">read more</a></p> Bank Financial Services Authority United Kingdom Thomson Reuters Fri, 22 Mar 2013 14:30:18 +0000 5791052 at http://www.globalpost.com Britain eases rules for start-up banks http://www.globalpost.com/dispatch/news/thomson-reuters/130326/britain-makes-it-easier-start-banks <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Huw Jones and Matt Scuffham</p> <p>LONDON (Reuters) - Start-up banks in Britain will not need as much capital as their established rivals starting from April, Britain's Financial Services Authority (FSA) said, in a move to boost competition.</p> <p>Under pressure from MPs to increase choice in a sector dominated by five banks, the FSA unveiled sweeping changes to authorise new entrants within six months, a process that currently takes a year or more.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130326/britain-makes-it-easier-start-banks" target="_blank">read more</a></p> Economic history Economics Economy of the United Kingdom Financial Services Authority United Kingdom Thomson Reuters Tue, 26 Mar 2013 11:45:31 +0000 5794132 at http://www.globalpost.com Prudential fined £30 million for secret AIA bid plans http://www.globalpost.com/dispatch/news/thomson-reuters/130327/prudential-fined-45-million-hiding-aia-takeover-plans <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Kirstin Ridley</p> <p>LONDON (Reuters) - Prudential Plc has been fined £30 million and had its CEO publicly censured for failing to inform Britain's regulator about an ill-fated Asian takeover because it feared a leak.</p> <p>The fine, one of the heaviest dished out by the Financial Services Authority (FSA), rekindles bitter memories of a costly misjudgement which Britain's biggest insurer and its Chief Executive Tidjane Thiam are keen to consign to the past.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130327/prudential-fined-45-million-hiding-aia-takeover-plans" target="_blank">read more</a></p> Business Economy of the United Kingdom Financial Services Authority Financial Services Authority Insurance Prudential plc Prudential Plc Social Issues Thiam United Kingdom Thomson Reuters Wed, 27 Mar 2013 09:45:23 +0000 5795097 at http://www.globalpost.com Supervisory shake-up bumps up costs for banks http://www.globalpost.com/dispatch/news/thomson-reuters/130409/supervisory-shake-bumps-costs-banks <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Huw Jones</p> <p>LONDON (Reuters) - British banks could pay up to a quarter more to be supervised as two new watchdogs adopt more intrusive regulation and impose higher fines which will be paid into the coffers of cash-strapped government.</p> <p>The defunct Financial Services Authority (FSA), scrapped in March to correct supervisory failures uncovered by the financial crisis, used to keep fines to subsidise its own operating costs.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130409/supervisory-shake-bumps-costs-banks" target="_blank">read more</a></p> Business Economy of the United Kingdom Financial Services Authority United Kingdom Thomson Reuters Tue, 09 Apr 2013 13:45:28 +0000 5807135 at http://www.globalpost.com