The Financial Conduct Authority Archives

Will the Financial Services Act of 2012 revamp UK’s Financial Regulatory Framework

International Finance DeskAugust 28, 2013

by International Finance DeskAugust 28, 2013

The Financial Services Act 2012 has come into force from 1st April, 2013 in the U.K. August 28, 2013 : The Financial Services Act 2012 is aimed at creating a new regulatory framework for the supervision and management of UK’s banking and financial industry. The enforcement of the act will also see the launch of the new...

Transatlantic Exchange Operator to Takeover Scandal hit LIBOR

International Finance DeskJuly 11, 2013

by International Finance DeskJuly 11, 2013

The winning subsidiary known as NYSE Euronext Rate Administration Limited is scheduled to complete the transfer by 2014. July 11,2013 : International Finance Magazine reports on the takeover of the traditional rate setter by an independent private company and a threadbare analysis of how the new mechanism shall prevent fraudulent rate setting by elite banks and...

Bank Penalties on Risk Management Failures Raise Enormously in U.K.

International Finance DeskJune 19, 2013

by International Finance DeskJune 19, 2013

The Financial Conduct Authority has levied a fine of more than £ 292 million pounds ($458 million) against firms which have inadequate risk management controls. June 19, 2013 : International Finance Magazine gives you the story on LIBOR manipulation and the impact of the Financial Services Act 2012 which has given more powers to exert pressure...