DEBATE: Has the row over Xavier Rolet’s departure damaged the London Stock Exchange? November 30, 2017 Has the row over Xavier Rolet’s departure damaged the London Stock Exchange? Estelle Clark, director of policy at the Chartered Quality Institute, says YES. The behaviour of everyone involved is akin to schoolboys in the prefect room. For the board of the London Stock Exchange (LSE) to believe that they could announce a chief executive’s [...]
Bank of England stress tests: This is how the lenders HSBC, RBS, Barclays, Lloyds Bank, Standard Chartered reacted November 28, 2017 The Bank of England unveiled the results of its latest round of stress tests today, and presented a fairly upbeat outlook on the state of the market. Barclays and RBS were the only lenders to fall below the Bank’s systemic reference points, and in the main, the BoE said banks would incur losses of £50bn [...]
Chinese banks march up rankings of world’s most important banks as Citi and BNP Paribas drop November 21, 2017 Chinese banks have jumped up international regulators’ rankings of the banks which are most crucial to the global financial system as Citigroup and BNP Paribas fell down the list. Both Bank of China and China Construction Bank rose into the second “bucket” on a list of the global systemically important banks published today by the [...]
A brave new banking world: How computer science shaped this company November 8, 2017 When I spot Anne Boden across the coffee shop, she beams at me. Even before she’s said a word, I immediately warm to her – here’s a woman who has spent 30 years working for the big banks, and yet she seems far removed from the stereotypical personalities you associate with the cutthroat finance [...]
Financial Conduct Authority (FCA) slaps Merrill Lynch with £34.5m fine for derivative trading failings October 23, 2017 The City’s top watchdog has slapped banking giant Merrill Lynch with a £34.5m fine for not reporting tens of millions of derivative trades over a two year period. The groundbreaking enforcement action by the Financial Conduct Authority (FCA) follows Merrill Lynch’s failure to report details of 68.5m derivative transactions under the European Markets Infrastructure Regulation [...]
Westminster pressure on City watchdog over Saudi Aramco: Nicky Morgan and Rachel Reeves quiz FCA on new listing rules September 8, 2017 Two political heavyweights have cranked up the pressure on the City watchdog over its plans to shake up listing rules which could pave the way for a Saudi Aramco mega-float. The chairs of the influential Treasury and Business, Energy and Industrial Strategy select committees, Nicky Morgan and Rachel Reeves, have written to Financial Conduct Authority [...]
Charter Court Financial Services is set to announce plans for £500m float in London | City A.M. September 3, 2017 Buy-to-let mortgage lender Charter Court Financial Services is expected to reveal a £500m initial public offering (IPO) on the London Stock Market, according to reports. The owner of Exact and Precise mortgage brands could announce plans for a float as soon as this week with a market value of about £500m, Mark Kleinman at Sky [...]
The Bank of Mum and Dad: Should you gift or loan? August 17, 2017 Young adults are feeling the pinch. Not only are property prices shockingly high, but student debt and stagnant wages are putting a strain on savings, making it difficult for many young people to even fathom the prospect of affording a house. Research from the Resolution Foundation shows that millennials are the first generation ever to [...]
The death of presenteeism is the birth of flexible working August 17, 2017 As you’re reading this article, perhaps trundling along in a crowded Tube carriage, try to imagine a saner, less stressful way of working. Imagine working in an environment where you are measured on what you deliver, rather than the number of hours you sit at your desk. If your company had a flexible working option, [...]
Hargreaves Lansdown cuts dividend expectations as City regulator demands it ups its regulatory capital surplus August 4, 2017 Investment services group Hargreaves Lansdown (HL) has dropped its special dividend, as City watchdog the Financial Conduct Authority (FCA) demands it raises its capital surplus. The FCA reassessed HL's regulatory capital requirements "given the group's strong recent growth in scale and complexity". The investment group calculated that it now needs to retain an extra £50m. [...]