FCA begins review on data in wholesale markets
The FCA is using its Call for Input (CFI) to better understand how data and advanced analytics are being accessed and used, the value offered to market participants and whether…
Read More Smart contracts and crypto assets get legal standing in UK
The UK Jurisdiction Taskforce of the Lawtech Delivery Panel has published a legal statement on the status of crypto assets and smart contracts under English and Welsh law. The landmark…
Read More UK lawmakers give scathing review of financial services IT, recommend regulating cloud providers
UK regulators such as the Bank of England and Financial Conduct Authority must act to reduce the unacceptable number of IT failures in the financial services sector, the UK Treasury…
Read More UK stats agency to use alt-data to measure inflation
The Office for National Statistics (ONS) is currently undergoing transformation across many areas of its statistics, including identifying new data sources and improving its methods. That means updating the way…
Read More UK ethics centre launches investigation into algo bias
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).…
Read More UK digital competition review calls for new watchdog with enforcement power
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…
Read More UK’s Alan Turing Institute awarded £9.2mn for AI data science project
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…
Read More Brexit white paper asks EU for coordinated approach to financial services
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…
Read More UK Financial Policy Committee says cryptocurrency not a material risk to UK financial stability
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…
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Barclays’ ServCo introduces a new type of player into the service provider market
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…
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Thursday News Roundup: Brexit moves, Volcker revisions, picking spots in secured financing and more
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,…
Read More UK increases countercyclical capital buffer rate to 0.5% from 0%
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…
Read More UK FCA finds most firms following regulatory requirements in dividend arbitrage
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…
Read More UK Investment Association says that securities lending earnings should be fully disclosed
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…
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Barclays operations restructuring addresses a little-recognized ring-fencing risk (Premium)
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…
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UK FCA Proposes Clampdown on retail CFDs
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…
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What happens to the UK's Basel III rules after Brexit – a smart analysis shows some answers
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…
Read More S&P, Fitch downgrade UK credit rating
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.…
Read More Reuters: UK banks show restrained appetite for central bank funds before EU vote
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…
Read More Challengers boosted by new settlement model for UK Faster Payments
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…
Read More Court of Justice of the European Union rejects UK bid against FTT as premature
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.…
Read More BBC: UK loses EU short selling appeal
EU court rebuffs UK legal challenge to short-selling law The UK government’s attempt to limit the extent of European Union power to ban certain financial practices has failed in the…
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