Financial Regulatory Forum

UK financial watchdog issues bonus warning

July 21, 2009

    LONDON, July 20 (Reuters) – Britain’s financial watchdog has warned banks that guaranteed bonuses that last longer than a year will break proposed rules on remuneration due to come into force next January.

UK Conservatives would scrap financial watchdog

July 20, 2009

Britain's shadow chancellor George Osborne LONDON, July 20 (Reuters) – British regulator the Financial Services Authority (FSA) should be abolished and the Bank of England put in full charge of regulating financial institutions, opposition Conservatives said.

Big UK investors baulk at FSA bank oversight

July 16, 2009

   By Raji Menon
   LONDON, July 16 (Reuters) – Major UK institutional investors boadly welcomed David Walker’s report on improving corporate governance in banks, but baulked at the idea of the financial regulator monitoring fund managers’ compliance on engagment.

INSTANT VIEW-Reaction to UK bank governance proposals

July 16, 2009

Sir David Walker    LONDON, July 16 (Reuters) – Following is recation to a UK government-sponsored review of the way the UK banking system is run and governed.
   David Walker, a former chairman of Morgan Stanley bank’s international unit, on Thursday published 39 recommendations for changes in the way banks are run, from pay policies to selecting board members, in a bid to apply lessons from the credit crunch.

UK’s FSA says new liquidity rules hinge on economy

July 9, 2009

   By Kirstin Ridley
   LONDON, July 9 (Reuters) – Britain’s top financial watchdog said on Thursday it was on track for introducing tough new liquidity rules for banks from the fourth quarter, but full implementation would depend on the economic climate.

UK’s FSA to expose banks’ complaint handling flaws

July 9, 2009

   LONDON, July 9 (Reuters) – Britain’s financial regulator plans to expose any failings in the way banks and insurers handle complaints by forcing them to reveal how many gripes they receive and how quickly they are dealt with.

Britain sets out plans to tighten bank regulation

July 8, 2009

Britain's Chancellor of the Exchequer Alistair Darling    By Huw Jones
   LONDON, July 8 (Reuters) – Britain will tighten up how it supervises banks, scrutinise bonuses paid to their employees and punish misconduct harder as it tries to prevent a re-run of the credit crunch, the government said on Wednesday.

UK’s Darling says banks to face tougher regulation

July 6, 2009

Britain's Chancellor of the Exchequer Alistair Darling     LONDON, July 4 (Reuters) – British finance minister Alistair Darling said “kamikaze” bankers brought the financial system to the point of collapse and regulators would get new powers to probe banks’ affairs.

N.Rock capital below minimum as waiver expires

July 1, 2009

Pedestrians walk past a branch of the Northern Rock bank in the City of London   LONDON, July 1 (Reuters) – UK state-owned bank Northern Rock’s capital has fallen below the regulatory minimum but it has been cleared to continue business as normal.