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Financial Services
Editor's Picks
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UK government acts on Financial Ombudsman ‘quasi-regulator’ concerns (update*)
Concerns in the UK that the Financial Ombudsman Service is acting as a quasi-regulator have come under the government’s lens, as part of an ongoing crackdown on red... (more story)
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Platforms, banks in Thailand to share cybercrime liability under new decree
Financial institutions, social media platforms and telecommunications providers in Thailand could soon be required to do more to fight tech crimes and protect their... (more story)
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Mastercard joins Visa, Revolut in claim against UK payments regulator
Mastercard has filed a claim for judicial review against a move by the UK’s payments regulator to cap cross-border interchange fees, MLex understands. Mastercard is... (more story)
Insight View More
The UK financial watchdogs have been given 16 measures to implement over the next year as part of the government's "radical" action plan to cut red tape. The Financial Conduct Authority and the Prudential Regu... (more story)
The head of the UK’s financial watchdog has been asked by a lawmaker to reconsider his organization’s response to a damning report on its handling of the collapsed pre-paid funeral provider Safe Hands. In a le... (more story)
Crispin Odey, founder of the eponymous asset manager, has been fined more than 1.8 million pounds and banned from working in the UK’s financial service industry for obstructing his firm’s internal probe into a... (more story)
Concerns in the UK that the Financial Ombudsman Service is acting as a quasi-regulator have come under the government’s lens, as part of an ongoing crackdown on red tape. The review into the FOS's framework co... (more story)
An EU proposal for a new kind of company with the freedom to follow one simple set of uniform rules everywhere in the bloc should be put forward soon, the EU's justice chief has said, adding some practical det... (more story)
EU banks are set to be consulted over the next steps of the Fundamental Review of the Trading Book, a more robust framework under Basel 3.1 capital rules, which determine requirements for banks’ financial inst... (more story)
Financial institutions, social media platforms and telecommunications providers in Thailand could soon be required to do more to fight tech crimes and protect their users under an emergency decree, or else be ... (more story)
A serving UK National Crime Agency officer has been charged today with the alleged theft of 50 Bitcoin during an investigation into online organized crime. The Bitcoin has a value of more than 3 million pounds... (more story)
Comment View More
A pause on US Federal Trade Commission litigation defending a controversial nationwide ban of noncompete agreements, alongside a new agency labor antitrust task force, has offered a mixed bag for employers try... (more story)
A massive shakeup of UK financial services in the last few hours has seen the payments regulator axed — and diversity and inclusion initiatives abandoned — along with a plan to start naming regulated firms tha... (more story)
Securities financing transactions look increasingly likely to avoid being pulled in to Europe's plans to move to an accelerated settlement cycle for trades, with the industry asking regulators to leave SFTs al... (more story)
The UK’s Financial Conduct Authority has invoked the ongoing debate around allowing more risk into the financial system in the pursuit of economic growth, as it rejected a finding by a statutory body that it f... (more story)
Comment: The troubled 12-year voyage of the US Securities and Exchange Commission’s central stock-trades warehouse faces a risk of running aground after colliding with one shoal after another. Senate Banking C... (more story)
Continuing its pell-mell practice of overturning Biden administration policies, Trump administration banking regulators issued for public comment a retraction of a 2024 Statement of Policy on Bank Merger Trans... (more story)
UK government efforts to water down a long-planned and much-delayed overhaul of the country's audit regime have been described as “short-sighted” by one auditors' industry body. Anticipated new powers to pursu... (more story)
John Glen, the UK's former City Minister, has come to the defense of regulators and businesses, arguing that the government and consumers need to bear more responsibility. The government should articulate how ... (more story)