News

City Minister Criticizes FCA In an unusual intervention, Tulip Siddiq, the City Minster, took aim at the Financial Conduct Authority. Speaking at the Global Banking Summit, she urged the regulator…

Nomura Engages in Attempted Murder Nomura’s CEO was forced to apologize and take a pay cut after one of its employees was charged with attempted murder. The wealth manager tried…

UK Under Sustained Cyber Attack The National Cyber Security Centre will today publish its annual review. The document will make sobering reading. The extent of cyber-attacks on the country has…

Non-Bank Stress Test The Bank of England has concluded that more work is needed to understand the implications of the non-bank sector. Fifty institutions took part on the System-Wide Exploratory…

FCA Changes Disclosure Policy The Financial Conduct Authority is planning to change its policy on the disclosure of investigations underway. It will introduce a more rigorous public interest test that…

Nationwide Books Mega Virgin Gain Nationwide Building Society has announced a gain of £2.3 billion in its acquisition of Virgin Money. The deal completed in October and will allow the…

Macquarie Fined for Control Failings The UK’s Financial Conduct Authority has fined Macquarie £ 13 million for poor controls in relation to a trader fraud. Here we go again –…

Fix Culture First – De-Regulate Second I was drawn to an article in this morning’s FT by Philip Augar. He argues that before de-regulating in banking we need to fix…

Barclays Back in the Dock Today sees the start of Barclays appeal against a £50 million fine from the Financial Conduct Authority. Bizarrely the case relates to events 16 years…

BofA Indian Bankers Depart Under a Cloud Three Bank of America employees have resigned following a whistleblower report and an internal investigation. The probe looked into allegations that these individuals…