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Results: 1-10 of 87

IMF concludes 2010 Article IV consultation with UK

  • Alston & Bird LLP
  • -
  • United Kingdom
  • -
  • September 30 2010

Today, the International Monetary Fund (IMF) issued a report at the conclusion of its 2010 "Article IV consultation" with the United Kingdom

U.K Independent Commission on Banking publishes issues paper and call for evidence

  • Alston & Bird LLP
  • -
  • United Kingdom
  • -
  • September 28 2010

On September 24, 2010, the Independent Commission on Banking, established in June by the Chancellor of the Exchequer, published an issues paper and call for evidence outlining the Commission's "initial approach to considering financial stability, competition and the other issues to which must have regard under its Terms of Reference" and "a number of options for reform in broad terms" including:Reform options related to the structure of banksSeparation of retail and investment bankingNarrow banking and limited purpose bankingLimits on proprietary trading and investingStructural separability, including living wills and resolution schemesContingent capitalStructure-related surchargesReform options related to the structure of marketsMeasures to reduce market concentrationMarket infrastructure reformThe Commission is requesting submissions of evidence regarding these issues by November 15, 2010

FSA and FINRA sign memorandum of understanding

  • Alston & Bird LLP
  • -
  • United Kingdom, USA
  • -
  • September 20 2010

Today, the U.K. Financial Services Authority (FSA) and the U.S. Financial Industry Regulatory Authority (FINRA) entered into a Memorandum of Understanding (MOU) to support more robust cooperation between the two regulators

U.K. Treasury lays out new plan on investment firm insolvency

  • Alston & Bird LLP
  • -
  • United Kingdom
  • -
  • September 17 2010

Yesterday, the United Kingdom's Commercial Secretary to the Treasury launched a consultation on a new special-resolution regime, Special administration regime for investment firms, to strengthen the government's ability to handle future insolvencies of failing investment banks to minimize cost and disruption of the overall national financial system

FSA publishes discussion paper on fundamental changes to trading activity regulation

  • Alston & Bird LLP
  • -
  • United Kingdom
  • -
  • August 25 2010

Today, the U.K. Financial Services Authority (FSA) published a discussion paper entitled “The prudential regime for trading activities - a fundamental review” that considers fundamental changes to the regulation of trading activities

FSA proposes expansion of Remuneration Code of Practice

  • Alston & Bird LLP
  • -
  • United Kingdom
  • -
  • July 30 2010

On Thursday, the Financial Services Authority (FSA) announced plans to expand its Remuneration Code of Practice to incorporate the board remuneration rules required by the Capital Requirements Directive (CRD 3) and the Financial Services Act 2010 (FS Act

U.K. Financial Services Authority issues mortgage proposals

  • Alston & Bird LLP
  • -
  • United Kingdom
  • -
  • July 16 2010

Tuesday, the U.K.’s Financial Services Authority (FSA) released its mortgage rule proposals, with a goal “to ensure all mortgages are carefully assessed to make sure borrowers can afford them.”

Bank of England releases Financial Stability Report

  • Alston & Bird LLP
  • -
  • United Kingdom
  • -
  • June 28 2010

On Friday, the Bank of England published its bi-annual Financial Stability Report, which assesses financial conditions affecting financial stability and suggests ways to strengthen the financial system

U.K. unveils bank levy, as France and Germany express their intentions to follow suit

  • Alston & Bird LLP
  • -
  • France, Germany, United Kingdom
  • -
  • June 24 2010

Yesterday, Chancellor of the Exchequer George Osborne, in his June Budget Report Statement to the House of Commons, announced the introduction of a levy on U.K. banks, including the U.K. operations of foreign banks, that is expected to generate over £2 billion per year once fully implemented

Chancellor of the Exchequer confirms abolition of tripartite regime

  • Alston & Bird LLP
  • -
  • United Kingdom
  • -
  • June 17 2010

Yesterday, at a speech in London, the U.K.'s Chancellor of the Exchequer, George Osborne, confirmed that as part of "a new system of regulation," the U.K. government will "abolish the tripartite regime, and the Financial Services Authority will cease to exist in its current form."