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Financial Services

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UK financial regulators given 'tangible' growth measures to deliver March 17, 2025 | Sofia Gerace and Phoebe Seers

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)

‘Failing’ UK FCA asked to reconsider reply to complaints body report March 17, 2025 | Phoebe Seers

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)

UK FCA fines, bans Odey for obstructing internal probe March 17, 2025 | Phoebe Seers

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)

UK government acts on Financial Ombudsman ‘quasi-regulator’ concerns (update*) March 17, 2025 | Phoebe Seers

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)

Work on proposed new EU-wide company type is under way, EU justice chief says (update*) March 14, 2025 | Sara Brandstätter

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 to be queried over trading rules changes after US, UK delays March 14, 2025 | Sofia Gerace

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)

Platforms, banks in Thailand to share cybercrime liability under new decree March 14, 2025 | Choltanutkun Tun-atiruj

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)

UK NCA officer charged over alleged Bitcoin theft March 13, 2025 | Martin Coyle

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)

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US FTC noncompete rule in jeopardy, but labor restraints remain risky March 13, 2025 | Chris May and Clayton Vickers

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)

The UK financial services shakeup: Is it all style over substance? March 12, 2025 | Phoebe Seers

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)

EU and UK T+1 taskforces hope arguments to exempt securities financing stack up March 11, 2025 | Sofia Gerace and Helena Freitas

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)

Growth/Risk trade-off invoked by UK FCA after Safe Hands Plans criticism March 11, 2025 | Phoebe Seers

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)

Troubled odyssey of US SEC’s audit trail at risk of ending March 05, 2025 | Neil Roland

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)

US FDIC seeks to reverse Biden-era policy on bank mergers March 03, 2025 | Neil Roland

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)

Watering down UK audit reform: An economic boost or a ‘short-sighted’ mistake? March 03, 2025 | Phoebe Seers

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)

UK government should articulate risk tolerance, former City Minister says February 28, 2025 | Phoebe Seers and Sofia Gerace

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)