The financial services industry constitutes around 7 per cent of UK GDP, directly employs 1.1 million people (two-thirds of them outside London) and contributes a significant proportion of tax revenue to the UK. An important part of the industry is the banking sector, consisting of UK domestic banks and non-UK banks that have established themselves in the UK (many of which use the EU passport to conduct cross-border business).
November 29, 2017
On 4 October 2017, the Prudential Regulation Authority (PRA) published two consultations that are particularly important to international banking groups, Consultation Paper 19/17: Groups policy and double leverage (CP19/17) and Consultation Paper 20/17: Changes to the PRA’s large exposures framework (CP20/17).
November 15, 2017
The European Securities and Markets Authority (‘ESMA’) is undoubtedly an important European institution.
November 02, 2017
The Canadian government has taken the next step towards implementation of the bail-in regime for domestic systemically important banks in Canada (D-SIB(s)).
August 14, 2017
The European Commission has published a number of proposed measures that form part of its work to reduce risk in the EU banking sector, as set out in the Communication Towards the Completion of the Banking Union.
November 24, 2016
In the FCA’s Business Plan 2015/16 the regulator announced its intention to undertake a market study into the asset management market.
November 23, 2016
With financial services firms still coming to grips with the UK’s referendum decision to leave the EU there continues to be a sense of a journey into the unknown.
November 07, 2016
With the implementation deadline of January 3, 2018 starting to loom over the horizon the FCA has started producing a series of consultation papers on MiFID II / MiFIR.
October 10, 2016
With financial services firms still coming to grips with the UK’s referendum result to leave the EU there continues to be a sense of a journey into the unknown.
October 03, 2016
On June 23, 2016, the UK held its historic referendum concerning its future membership in the EU.
July 07, 2016