Sinead's Feed
Apr 16, 2013

UK fund managers face biggest hit from EU bonus cap

LONDON (Reuters) – Caps on bonuses paid to fund managers proposed by European lawmakers may prompt British investment houses, which have most to lose from the new rules, to look at new structures such as profit sharing partnerships favored by law firms, experts say.

A European parliament panel has called for tighter control of fund manager pay though lawmakers are split over how far reaching a cap on bonuses should be.

Apr 14, 2013

Analysis: Euro zone bank troublespots don’t come down to size

DUBLIN/LONDON (Reuters) – Though the implosion of Cyprus’s bloated banking system has put other euro zone economies with outsized financial sectors such as Luxembourg and Malta in the spotlight, loan quality is the real litmus test of a country’s financial stability.

Attracted by low taxes, high interest rates and light regulation, foreign deposits, largely from Russia and other former Soviet states, pumped up the Cypriot banking sector to nearly eight times annual economic output, more than double the European average of around 3.5 times.

Apr 14, 2013

Euro zone bank troublespots don’t come down to size

DUBLIN/LONDON April 14 (Reuters) – Though the implosion of
Cyprus’s bloated banking system has put other euro zone
economies with outsized financial sectors such as Luxembourg and
Malta in the spotlight, loan quality is the real litmus test of
a country’s financial stability.

Attracted by low taxes, high interest rates and light
regulation, foreign deposits, largely from Russia and other
former Soviet states, pumped up the Cypriot banking sector to
nearly eight times annual economic output, more than double the
European average of around 3.5 times.

Apr 12, 2013

Few financial workers fail UK “fit and proper” test

LONDON, April 12 (Reuters) – British financial regulators
have blocked just 30 out of a possible 227,000 applications to
the sector’s most risk-sensitive jobs since the banking crisis
erupted, figures seen by Reuters show.

The Financial Services Authority (FSA), which was abolished
at the start of this month in a regulatory shakeup, rejected one
appointment for every 7,566 proposed by banking, insurance and
other finance firms under the terms of its ‘approved persons’
regime between April 2007 and the end of 2012.

Apr 12, 2013

Financial workers sail through “fit and proper” tests

LONDON (Reuters) – Britain’s financial regulator has blocked just 30 out of a possible 227,000 applications to the sector’s most risk-sensitive jobs in the six years since the banking crisis erupted.

New figures seen by Reuters show the renamed Financial Conduct Authority (FCA) rejected an average of one appointment for every 7,566 proposed by banking, insurance and other finance firms under the terms of its ‘approved persons’ regime between April 2007 and the end of 2012.

Apr 12, 2013

Financial workers sail through UK’s ‘fit and proper’ tests

LONDON, April 12 (Reuters) – Britain’s financial regulator
has blocked just 30 out of a possible 227,000 applications to
the sector’s most risk-sensitive jobs in the six years since the
banking crisis erupted.

New figures seen by Reuters show the renamed Financial
Conduct Authority (FCA) rejected an average of one appointment
for every 7,566 proposed by banking, insurance and other finance
firms under the terms of its ‘approved persons’ regime between
April 2007 and the end of 2012.

Apr 8, 2013

Europe’s fund firms do battle for business

LONDON/FRANKFURT, April 9 (Reuters) – The rising cost of
running vast numbers of investment funds is outpacing the money
available to flow into them, prompting European managers to
shake up what they sell.

The moves – which could help the firms earn better returns
for savers and bigger profits for themselves – contrast with the
response to the financial crisis in 2007.

Apr 2, 2013

Trade body rolls out compulsory integrity tests for bankers

LONDON, April 2 (Reuters) – Thousands of financial sector
workers risk being frozen out of the industry unless they pass
mandatory tests measuring their personal ethics and integrity.

The Chartered Institute for Securities & Investment (CISI),
a professional body for individuals working, or seeking careers
in wealth management and capital markets, wants all of its
members to undergo integrity screening or face losing their
membership, as it battles to restore public faith in finance.

Mar 24, 2013

Analysis: Second “Shareholder Spring” unlikely to bloom in Europe

DUBLIN/LONDON (Reuters) – While politicians and public have fulminated against lottery-sized pay awards in Europe’s boardrooms, fund firms, which wield the real power, are less concerned by such excesses and unlikely to use new powers to revolt on remuneration.

Last year’s so-called “Shareholder Spring” against bosses’ salaries in Britain toppled few CEOs, and institutional investors typically prefer to keep battles with boards private.

Mar 24, 2013

Second “Shareholder Spring” unlikely to bloom in Europe

DUBLIN/LONDON, March 24 (Reuters) – While politicians and
public have fulminated against lottery-sized pay awards in
Europe’s boardrooms, fund firms, which wield the real power, are
less concerned by such excesses and unlikely to use new powers
to revolt on remuneration.

Last year’s so-called “Shareholder Spring” against bosses’
salaries in Britain toppled few CEOs, and institutional
investors typically prefer to keep battles with boards private.