UK

ethical AI, Regulations, UK

The potential for bias in the use of algorithms in a number of areas, including in financial services, will be investigated by the Centre for Data Ethics and Innovation (CDEI).…

UK digital competition review calls for new watchdog with enforcement power

March 13, 2019

Anna Reitman

bigtech, competition, fountech.ai, UK

The UK’s Digital Competition Expert Panel was established in September 2018. The panel was asked to consider the potential opportunities and challenges the emerging digital economy may pose for competition…

UK’s Alan Turing Institute awarded £9.2mn for AI data science project

December 19, 2018

Anna Reitman

Alan Turing Institute, artificial intelligence, Big Data, data management, UK

The Alan Turing Institute and the British Library, together with researchers from a range of universities, have been awarded £9.2 million (USD$11.6mn) from a government fund for a five-year project…

Brexit white paper asks EU for coordinated approach to financial services

July 12, 2018

Alex Tonhazy

Brexit, EU, UK

As the UK leaves the EU and the Single Market, it recognises the need for a new and fair balance of rights and responsibilities. The UK can no longer operate under…

UK Financial Policy Committee says cryptocurrency not a material risk to UK financial stability

March 27, 2018

cryptocurrency, Financial Policy Committee, UK

In its “Record of the Financial Policy Committee Meeting on 12 March 2018,” the Committee “recognised the potential benefits of the technologies underlying crypto-assets and of their potential to create…

Barclays’ ServCo introduces a new type of player into the service provider market

September 25, 2017

Richard Stinchfield

Operations, Prime Brokerage, Profitability, Regulatory, Risk Management, Securities Lending, Technology, UK

Barclays, enterprise operations, ring-fencing, UK

Barclays is setting its sights on returning to securities finance prominence. According to reports, Barclays’ current ability to try to recapture its one-time leading industry role in equity and fixed…

Thursday News Roundup: Brexit moves, Volcker revisions, picking spots in secured financing and more

August 3, 2017

Dodd-Frank, Europe, Total Return Swaps, UK, US

blockchain, Brexit, Europe, topstory, UK, US, Volcker

There was a lot of news this week for what should be a slow summer period. In this edition of News Roundup we look at regulatory changes, technology in trading,…

UK increases countercyclical capital buffer rate to 0.5% from 0%

June 27, 2017

Countercyclical Capital Buffer, UK

The Financial Policy Committee (FPC) prepares and publishes a Financial Stability Report (FSR) twice per calendar year. The FSR sets out the FPC’s assessment of the outlook for financial stability in…

UK FCA finds most firms following regulatory requirements in dividend arbitrage

June 7, 2017

Dividend Arbitrage, FCA, UK

Most rms executing transactions with, or on behalf of clients engaged in dividend arbitrage, appear to comply with our requirements. However, a small number of rms may not have undertaken…

UK Investment Association says that securities lending earnings should be fully disclosed

March 29, 2017

Investment Association, Securities Lending, UK

THE INVESTMENT ASSOCIATION ENHANCED DISCLOSURE OF CHARGES AND TRANSACTION COSTS TECHNICAL CONSULTATION March 2017 Treatment of Securities Lending Any earnings from securities-lending (more generally any efficient portfolio management technique) not…

Barclays operations restructuring addresses a little-recognized ring-fencing risk (Premium)

February 20, 2017

Richard Stinchfield

Europe, Market infrastructure, Operations, Regulatory, Technology, UK

Barclays, operations, ring-fencing, technology, topstory, UK

This month, global banking giant Barclays PLC announced that it will form a new, standalone operations entity divorced structurally and financially from its underlying banking units. This is a new…

UK FCA Proposes Clampdown on retail CFDs

December 7, 2016

Martin Walker

Derivatives, Investments, UK

CFDs, Contracts for Differences, FCA, topstory, UK

Retail providers of Contracts for Differences (CFDs) and Spread Betting products in the UK were in shock Tuesday as their industry faces new controls from the Financial Conduct Authority. This move…

What happens to the UK's Basel III rules after Brexit – a smart analysis shows some answers

September 20, 2016

Bank of England, Basel III, Europe, Risk Management

Basel III, Brexit, CRD IV, European Union, topstory, UK

Its time to start thinking about Brexit, Basel III, and the UK meeting EU equivalency rules for capital movement. One analysis, conducted by Eversheds International, focuses on what happens to CRD IV…

S&P, Fitch downgrade UK credit rating

June 28, 2016

Fitch, S&P, UK

From CNN Money: Standard & Poor’s downgraded the U.K. by two notches to AA on Monday, the latest fallout from last week’s shocking U.K. referendum to leave the European Union.…

Reuters: UK banks show restrained appetite for central bank funds before EU vote

June 15, 2016

Brexit, Repo, UK

British banks showed only modest appetite for six-month sterling funds from the Bank of England at an extra long-term repo operation which the central bank held on Tuesday to meet…

Challengers boosted by new settlement model for UK Faster Payments

October 6, 2015

Introduction of ‘pre-funding’ levels the playing field for Payment Service Providers of all sizes by eliminating shared risk Change opens door to wider access and enhances integrity Three challenger banks already…

Court of Justice of the European Union rejects UK bid against FTT as premature

May 1, 2014

Court of Justice of the European Union, FTT, UK

MarketWatch: Europe’s top court Wednesday threw out a legal challenge by the U.K. that sought to stop plans by 11 euro-area countries to impose a broad tax on financial transactions.…

BBC: UK loses EU short selling appeal

January 23, 2014

ESMA, UK