FSA bans firms *

United Kingdom - August 21 2009
FSA has banned: a sole trader who was convicted of money laundering; a firm that had not carried on any regulated activity for one year; and a firm that had not paid fees.

Co-authors: Emma Radmore.

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HMRC reviews MLR fees *

United Kingdom - August 14 2009
HMRC is reviewing the basis for calculating fees for businesses it supervises for AML purposes.

Co-authors: Emma Radmore.

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FSA confirms introduction of remuneration code of practice *

United Kingdom - August 14 2009
FSA introduced a new code that will require large banks, building societies and broker dealers in the UK to establish, implement and maintain remuneration policies consistent with effective risk management.

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FSCS publishes annual report *

United Kingdom - August 7 2009
FSCS’s annual report shows it paid out £21 billion in compensation in six months from September 2008, compared with a total of £1 billion over the previous seven years.

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CESR publishes MiFID complex instrument responses *

European Union - August 7 2009
CESR has published the responses it received to its consultation on complex and non-complex instruments for the purposes of MiFID’s appropriateness rules.

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