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Regulatory News - Archive (May to August 2006) Follow the links below for regulatory news... |
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| 30/08/2006 | Solvency II – ICAS experiences will help implementation in the UK The implementation of Individual Capital Adequacy Standards (ICAS) within insurance companies in the UK has been seen as a positive experience for the future implementation of Solvency II... |
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| 24/08/2006 | Sarbanes-Oxley – driving the narrow path between extremes In the past weeks, extensions to compliance dates have been given by the US’s SEC to small and overseas companies. At the same time we see potential polarity of positions being taken by the SEC’s Christopher Cox and the new US Treasury Secretary, Hank Paulson. Can the SEC steer SOX through these troubled waters?... |
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| 22/08/2006 | MiFID – market changes already in the pipeline The European Union’s forthcoming Markets in Financial Instruments Directive (MiFID) is already starting to drive market change, with a group of investment banks announcing they would be launching a competitive trade reporting service... |
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| 17/08/2006 | Basel II – US Congress intervenes, regulators hesitate US regulators have received notice that there will be a Congressional hearing to discuss the implementation of Basel II in the US including the request from a group of US banks to drop the requirement that only the highest level of capital calculation methodology be adopted... |
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| 15/08/2006 | Sarbanes-Oxley – changes for some but too late for others? Last week, the Securities and Exchange Commission (SEC) agreed further extensions for complying with SOX Section 404 by smaller public companies... |
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| 11/08/2006 | Solvency II – Heavy guns targeted at the EC Views on Solvency II, the planned risk-based capital adequacy directive for the insurance industry, are still far from positive amongst European insurance companies... |
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| 08/08/2006 | Basel II – US approval slips whilst large banks look for changes The finalisation of the essential Notice of Proposed Rulemaking (NPR), required before Basel II can be implemented in the US, seems to be slipping yet again... |
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| 03/08/2006 | MiFID – latest FSA paper poses many questions On Monday, the UK’s Financial Services authority (FSA) released its latest consultation paper on the EC’s Markets in Financial Instruments Directive (MiFID)... |
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| 31/07/2006 | Fraud Risk – is the UK an easy option? Michael Snyder, Chairman of the Policy and Resources Committee of the City of London, suggests that UK strategy for tackling fraud risk could be improved by taking a lead from the US... |
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| 27/07/2006 | Corporate Governance – SEC gets tough on executive stock options The US regulator, the Securities and Exchange Commission (SEC) has announced changes to the rules requiring disclosure of executive and director compensation as well as share ownership of officers and directors... |
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| 25/07/2006 | Hedge Funds – US or European route? Hedge funds prefer an environment that keeps them out of the public eye. However, this has been difficult in the past months due to uncertainty about their registration requirements in the US... |
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| 20/07/2006 | Sarbanes-Oxley – an irreversible driver of US capital markets to Europe? |
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| 18/07/2006 | MiFID – Trade associations blast FSA's proposals on best execution benchmarking |
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| 13/07/2006 | Sarbanes-Oxley deadline this weekend for many UK firms |
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| 11/07/2006 | ECB investigates settlement services for TARGET2 |
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| 07/07/2006 | MiFID: transparency rules not for bonds, says FSA |
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| 04/07/2006 | MiFID a challenge for exchanges, says Commissioner McCreevy |
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| 30/06/2006 | Corporate Governance – Updated Combined Code Published |
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| 27/06/2006 | Basel II – the BIS Board extends its diversity
The Board of Directors of the Bank of International Settlement, the sponsors of the new Basel II risk-based capital regulations, yesterday announced the election of three additional central bank governors... |
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| 22/06/2006 | Business Continuity – Institutions to learn from Hurricane Katrina report
A new report published on behalf of five US regulatory agencies summarises the lessons learnt by US financial institutions following the Hurricane Katrina disaster... |
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| 19/06/2006 | Basel II - EU's QIS 5 shows reductions in capital requirements
The Committee of European Banking Supervisors (CEBS) has released a report on the effects of the Capital Requirements Directive (CRD, the EU’s variant of Basel II) on the amount of regulatory minimal capital required in Europe... |
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| 15/06/2006 | Basel II – CEBS release paper on stress testing
CEBS have released a public consultation paper, "Stress testing under the supervisory review process", on the proposed application of the supervisory review process regarding the embedding of stress testing in a firm's risk management framework... |
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| 12/06/2006 | FSA: Merging exchanges could drive SOX compliance for UK quoted firms
FSA Chairman, Callum McCarthy, has commented on the potential longer term implications of any change of ownership of the London Stock Exchange (LSE)... |
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| 08/06/2006 | SEPA – Call for banks to work together
SEPA, the forthcoming EU Directive on a single euro payments area, was high on the agenda at a EBAday Payments Conference in Frankfurt this week... |
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| 06/06/2006 | Basel II home-host information sharing paper re-issued
The Basel Committee has re-issued Home-Host Information Sharing for Effective Basel II Implementation, taking into account comments from banks, industry associations and supervisors... |
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| 01/06/2006 | FSA issues new regulatory reporting consultation
The FSA has issued a consultation paper on new Integrated Regulatory Reporting (IRR) requirements applying to banks, building societies and investment firms... |
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| 30/05/2006 | Basel II – staggered implementation creates unfairness
Questions have been raised in Asia Pacific regarding possible unfairness created by a staggered implementation of Basel II... |
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| 25/05/2006 | Basel II may make bank comparisons harder, says S&P
The new Basel II standards may make the comparison of lending risks harder, said rating agency Standard & Poor's in a report released earlier this week... |
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| 22/05/2006 | FSA release MiFID best execution paper
The FSA has announced the release of "Implementing MiFID's Best Execution Requirements", a discussion paper with the period for responses closing on the 17th August... |
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| 19/05/2006 | Only 42% of European companies ready for SOX
The problems of Sarbanes-Oxley (SOX) continue for both overseas filers and small US publicly quoted companies with recent events doing little to raise the gloom... |
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| 15/05/2006 | NASDAQ takes its stake in the London Stock Exchange to 24%
Last week, NASDAQ, the smaller of New York’s two exchanges, raised its stake in the London Stock Exchange (LSE) to over 24%... |
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| 11/05/2006 | The Federal Reserve on enterprise risk management and operational risk
Enterprise risk management (ERM) could help meet the challenges of key risk areas such as compliance risk and operational risk in the financial sector... |
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| 08/05/2006 | Basel II – Still the most important issue to firms
In a recent survey published by ICBI the majority of firms surveyed named Basel II compliance as their most important area of risk... |
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| 04/05/2006 | SEPA – European Central Bank support but suggest changes
The European Central Bank (ECB) has released its latest opinion document on SEPA, the proposed Single European Payments Area directive. In this they support the initiative but raise a number of concerns... |
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| 02/05/2006 | Best execution continues to focus MiFID interest
Thomson Financial have privately acquired the US’s Market Systems, a provider of best execution compliance technology, a key requirement of the Markets in Financial Services Directive (MiFID)... |
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