January 2013 By Bill Grabarek, Senior Editor If anyone thought last year couldn’t compare with the events of 2011, they quickly were proved wrong as 2012 turned out to be every bit as transformational. In the U.S. market, we saw a fledgling federal watchdog agency, the Consumer Financial Protection Bureau (CFPB), go from crawling […]
Further clarification on the European Union’s Alternative Investment Fund Managers’ Directive, due to come into force in July next year, has been welcomed by the Alternative Investment Management Association, the global hedge fund association.
December 2012 By Adam Perrotta, Assistant Editor When MasterCard and global mobile carrier Telefónica joined forces to bring mobile financial services to 12 South American countries in early 2011, Richard Hartzell, president, Latin American and the Caribbean, MasterCard, said the initiative would help arm the card network with “the right artillery to strengthen our […]
Since the 2007 global financial crisis there has been a lot of debate on potential changes across the banking services industry and the potential consequences. Recent market surveys suggest that surprisingly little progress has been made in risk and compliance management and some lack of clarity as to what to do next. Reacting to regulatory change is one thing, but the real goal is to build clarity and confidence that banks are doing the right thing in the right way at the right time
The European Parliament has voted to approve the introduction of a financial transaction tax across 11 EU member states including France, Germany and Italy – but market participants warn that it may have unintended consequences.
The Financial Services Authority has instructed HSBC to set-up a board-level committee with a mandate to oversee matters relating to anti-money laundering, sanctions, terrorist financing and proliferation financing.
The Futures and Options Association has appointed former Financial Services Authority policy leader Natasha Stromberg as head of regulation, with core responsibility for working groups on energy, power, emissions, metals and other commodities-related areas.
