Legislative news

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Goldman Sachs seeks Volcker Rule exemption

14 February 2012
Goldman Sachs Group Inc. is asking regulators to loosen proposed limits on bank investments in such pools...

EFAMA comments on proposed regulations for FATCA implementation

14 February 2012
The U.S. Treasury and IRS have released long-awaited proposed regulations under the Foreign Account Tax Compliance Act...

MEPs vote for 1 Feb 2014 Sepa deadline

14 February 2012
Deadline of 1 February 2014 set for banks to migrate to Single euro area payment (SEPA) credit transfers and direct debits...

EFAMA comments on U.S. proposals to implement the Volcker Rule

13 February 2012
EFAMA's response to the U.S. financial regulatory authorities’ consultation on draft implementing measures of the Volcker Rule...

UBS ‘rogue trader’ pleads not guilty

31 January 2012
Kweku Adoboli, the UBS trader accused of racking up losses of $2.3 billion, has pleaded not guilty to charges of fraud and false accounting...

Sarkozy says France to tax financial transactions from August

30 January 2012
France plans to unilaterally impose a 0.1 percent tax on financial transactions starting in August...

Regulators demand action on Legal Entity Identifiers

18 January 2012
Regulatory authorities have called for the creation of a universal Legal Entity Identifier in their final report on OTC derivatives...

EU’s Financial Transaction Tax could increase FX costs by 9 to 18 times for Europe’s pension funds and businesses

17 January 2012
Warning comes from research commissioned by GFMA’s Global FX Division...

Former UBS trader to fight £1.25m fine from FSA

14 December 2011
Former UBS trader claims the practice was ‘encouraged’ at the firm...

EFAMA welcomes commission proposals on social entrepreneurship & venture capital funds

8 December 2011
Two proposals published to further the Single Market on investment management...

HSBC fined £10.5m for mis-selling to elderly in care

5 December 2011
Unsuitable sales prompt largest retail fine to date from the Financial Services Authority (FSA)...

Paragon FX charged by the CFTC as an unregistered RFED

5 December 2011
Court enters order freezing Paragon FX's assets...

NFA to provide regulatory services to FX Alliance’s swap execution facility

5 December 2011
Agreement establishes a preliminary framework for information exchange and the development of technology standards...

CFTC orders audit of all futures commission merchants (FCMs)

14 November 2011
Audit will ensure that customer money is protected in the wake of the collapse of MF Global...

HSBC chief calls for tighter bonus regulation

2 November 2011
Stuart Gulliver says banks should have their powers to hand out dividends and bonuses restricted when in serious financial problems...