Regulation Correspondent, Europe
Huw's Feed
Oct 30, 2013

Britain’s financial watchdog plans crackdown on fund manager fees

LONDON (Reuters) – Britain’s financial regulator plans to crack down on the 5.2 trillion pound ($8.4 trillion) fund management sector for unfairly making customers pay too many of its costs, its chief executive said on Wednesday.

Fund managers pay banks and brokers annual fees as well as commission to cover trading fees and research to help work out investment strategies, passing this on to their own customers.

Oct 30, 2013

Financial watchdog plans crackdown on fund manager fees

LONDON (Reuters) – Britain’s financial regulator plans to crack down on the 5.2 trillion pound fund management sector for unfairly making customers pay too many of its costs, its chief executive said on Wednesday.

Fund managers pay banks and brokers annual fees as well as commission to cover trading fees and research to help work out investment strategies, passing this on to their own customers.

Oct 28, 2013

Former central bankers urge better scrutiny of bank boards

LONDON, Oct 28 (Reuters) – Supervisors should focus on
improving boards at top banks now their work on toughening up
rules was coming to an end, a group a report from a think-tank
of former central bankers said.

The 2007-09 global financial crisis unleashed a flurry of
new rules that will force lenders to hold more capital after
many of them had to be bailed out by taxpayers.

Oct 22, 2013

EU agrees preliminary deal to rein in speed traders

LONDON, Oct 22 (Reuters) – The European Union has reached a
tentative deal to rein in the type of ultra-fast trading that
accelerated a plunge in Wall Street stocks in 2010 and set
regulatory alarm bells ringing across the world.

In the Wall Street “flash crash” three years ago, the Dow
Jones Industrial Average dropped about 700 points in minutes,
partly due to the high-frequency traders unloading their
securities as the market tumbled.

Oct 21, 2013

Europe seeks back-up plan for troubled banks within weeks

BRUSSELS, Oct 21 (Reuters) – European states need to spell
out by late November how they will cope with recapitalising
troubled banks to pave the way for prompt health checks, EU
leaders will pledge this week, according to a draft statement.

Such a commitment is designed to persuade investors that
countries are ready to come clean on the banking problems that
continue to dog the region after more than half a decade.

Oct 21, 2013

Not Bank of England’s role to regulate house prices – policymaker

LONDON, Oct 21 (Reuters) – The Bank of England should not
try to regulate house prices, a BoE policymaker said on Monday,
just hours after a property website reported that asking prices
in London jumped 10 percent over the past month.

The BoE’s Financial Policy Committee (FPC) is tasked with
spotting and pricking asset bubbles, and is already under
pressure to rein in Britain’s housing market at a time when a
new government mortgage guarantee scheme risks raising prices
further.

Oct 21, 2013

EU watchdog sets out tougher rules for planned bank tests

LONDON, Oct 21 (Reuters) – Europe’s top banking regulator
has set out tougher rules for its forthcoming tests on the
finances of top lenders, potentially paving the way for further
multi-billion euro fundraising measures by banks deemed shaky.

The rules, part of attempts to ensure the bank sector is
less likely to suffer a near-collapse as during the 2007-2008
credit crunch, impose centrally defined standards to ensure EU
banks cannot rely on national definitions to obscure the state
of their books.

Oct 21, 2013

EU unveils rules to ensure level playing field in bank tests

LONDON, Oct 21 (Reuters) – Europe’s top banking regulator
has set out rules to ensure EU banks cannot rely on national
definitions to obscure the true state of their books in an
upcoming assessment of whether they need more cash.

The last two rounds of the EU’s “stress tests”, which were
widely criticised for not being tough enough, gave national
authorities leeway to set key definitions such as what counted
as a bad loan and which loans were subject to “forbearance”.

Oct 17, 2013

UK says its local banking rules eased for all, not just Chinese

LONDON (Reuters) – Britain is ready to relax its banking rules for any non-European bank, not just those from China who want to set up investment banking operations in London, its chief industry regulator said on Thursday.

Earlier this week finance minister George Osborne had said the Bank of England’s Prudential Regulation Authority (PRA) will holds talks with Chinese banks to allow them to set up wholesale banking branches in London, easing regulations imposed after the financial crisis.

Oct 17, 2013

EU close to breaking deadlock on insurance capital rules-lawmaker

LONDON, Oct 17 (Reuters) – The European Union is close to
finalising a deal on how insurance companies will hold enough
capital to keep policyholders safe which will severely water
down the version sought by industry regulators, a senior EU
lawmaker said.

Negotiations on the law known as Solvency II have dragged on
for years due to disagreements over how much capital firms must
hold to cover to cover products offering guaranteed returns over
a long period.

    • About Huw

      "Huw is based in London and covers European regulatory issues and global rulemaking bodies such as the G20, Financial Stability Board, IOSCO, IASB and the Basel Committee. He has covered EU regulation in Brussels, the emergence pan-European stock markets, and has also been a Wall Street reporter in New York."
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