| FSA fines Square Mile Securities £250,000 for using high pressure sales tactics The Financial Services Authority has fined Square Mile Securities Limited £250,000 for persistently using high pressure sales tactics and misleading information to sell customers shares they did not want or could not afford. |
| MiFID analysis: Industry predicts the nature of first FSA visits The Financial Services Authority recently suggested that although firms would be given time to bed in their Markets in Financial Instruments Directive requirements, it was likely that firms would be visited in the first quarter of 2008. |
| BBA responds to FSA's retail distribution review The British Bankers' Association has published its response to the Financial Services Authority's discussion paper 07/1, entitled "A Review of Retail Distribution". |
| FSA opens up hedge funds to the retail sector Retail investors will have greater access to hedge funds under new proposals from the Financial Services Authority. |
| MiFID tops AMF Agenda The Autorité des Marchés Financiers has said that work on implementing the Markets in Financial Instruments Directive will be its main priority over the coming year, following the release of its 2007/08 work programme. |
| FSA transposes MiFID on tight schedule The Financial Services Authority has transposed the Markets in Financial Instruments Directive, with three working days to spare. On January 26 it published a policy statement and Handbook text finalising its transposition of MiFID for the firms it regulates. |
| FSA issues discussion paper on private equity market The Financial Services Authority has published a discussion paper on the regulatory challenges posed by the rapidly growing private equity market, which has this year raised more primary capital than the public listed market. The DP seeks industry and policymaker feedback on whether the regulator has correctly identified the various systemic risks posed by this growth, and the suitability of its approach to these. |
| FSA issues discussion paper on private equity market The Financial Services Authority has published a discussion paper on the regulatory challenges posed by the rapidly growing private equity market, which has this year raised more primary capital than the public listed market. The DP seeks industry and policymaker feedback on whether the regulator has correctly identified the various systemic risks posed by this growth, and the suitability of its approach to these. |
| Dresdner explains benefits of 'global' approach to compliance The recent restructuring of Dresdner Bank into two distinct units has led to a sea change in the firm's approach to compliance, according to compliance officials. |
| Wholesale exams demonstrate MiFID compliance, says expert Wholesale exams will enable firms to comply with part of the Markets in Financial Instruments Directive, according to Oonagh McDonald, visiting fellow at the International Institute of Banking and Financial Services. |
| Plumber's victory makes it harder for FSA to prove abuse, says lawyer Paul "The Plumber" Davidson's successful appeal against the Financial Services Authority's £750,000 fine for alleged market abuse makes it difficult for the regulator to take effective action against market manipulation, according to Martyn Hopper, partner at Herbert Smith. |
| FSA and Treasury may abolish rules beyond MiFID The Financial Services Authority and the Treasury are checking whether existing rules should be retained if they go beyond obligations contained in the Markets in Financial Instruments Directive, according to the joint implementation plan. |
| FSA sets out further capital requirements proposals The Financial Services Authority has said that its proposals for implementing the Capital Requirements Directive passed a cost-benefit analysis and should attract broad industry acceptance. |
| FSA promises not to enforce principles unreasonably or retrospectively The Financial Services Authority will not use the enforcement of its principles to make new law, and will not force firms to follow its guidance. |
| FSA faces challenge with level two of MiFID, says industry The draft of the Markets in Financial Instruments Directive's level two measures has belied commissioner Charlie McCreevy's suggestions that there would be "more regulation than directive", according to sources. |
| UCITS — improving the efficiency of the EU investment fund market In its November 2006 white paper on undertakings for collective investment in transferable securities, the European Commission examined the challenges facing cross-border EU investment fund investments. |
| Compliance officers speak out on 'Dear CEO' letters Compliance officers revealed a range of views on the Financial Services Authority's controversial "Dear CEO" letters during a City forum yesterday. |
| TCF-linked executive pay could start a trend While some firms missed the Financial Services Authority's March deadline for implementing its treating customers fairly objective, it seems others have grasped the nettle and are actually planning to link executive pay with customer satisfaction results. |
| Compliance compounds operational risk with spreadsheets, finds study More than 70 per cent of compliance officers still rely on spreadsheets for compliance monitoring, despite the risks associated with their use, according to researchers. |
| Enforcement in a principles-based environment: shield or sword? The Financial Services Authority's approach to enforcement will be central to the success of its more principles-based regulation project. |
| CP05/10 Spurs Flexible Training Revolution The proposal to make wholesale exams voluntary, which the Financial Services Authority aired in consultation paper 05/10, has triggered a training revolution ahead of the regulator's final decision later this month. |
| Remedial action may prompt FSA to suspend enforcement The Financial Services Authority may suspend enforcement action against companies that have taken appropriate remedial action and explained their response during a scoping visit, according to Will Amos, head of retail, enforcement, at the regulator. |
| FSA's approved person reforms will increase costs, says industry The Financial Services Authority's plans to remove the approved persons regime for wholesale markets would create a new financial burden for firms, compliance officers have claimed. |
| Formula to prove price transparency would benefit all, says FSA The Financial Services Authority published a couple of academic "occasional papers" last week, but does it really take 36 pages of algebraic formulae to conclude that consumers would be better off if the pricing of financial products was more transparent? |
For an archive of old 'Hot Topics' articles click here.
The views and the opinions expressed in 'hot topics' are that of the individual authors and not necessarily those of the Securities & Investment Institute.
Hot Topics is supported by
FULL SITE MAP (recommended for users with special accessibility requirements)
|
