Tag: rules

European banks face exodus of staff over regulations

European banks face exodus of staff over regulations

Headhunters have warned that staff at some of Europe’s largest banks are threatening to quit over bonus rules and other regulations. The bonus review, the threat of big banks being broken up, as well as the growing pay divide between Europe and the US, is expected to bring a mass exodus of staff. However, new [...]

January 24, 2011 | 0 Comments More
JP Morgan announces Q3 results

JP Morgan announces Q3 results

Wall Street banking giant JPMorgan has kicked off the banking reporting season by announcing a 23% increase in profits for the third quarter - better than the markets had expected. The bank said net profit came in at $4.4 billion (£2.8 billion), against a profit of $3.6 billion in the same period a year earlier. [...]

October 14, 2010 | 0 Comments More
Standard Chartered announces £3.3bn cash call

Standard Chartered announces £3.3bn cash call

London-based emerging markets bank, Standard Chartered, has today announced plans to tap investors for £3.3 billion by selling fresh shares in the banking group. The cash call, which represents the biggest for the bank, comes after new Basel III regulations, which agreed how much equity banks must hold in reserve in order to prevent another [...]

October 13, 2010 | 0 Comments More
Global regulators meet to agree stricter bank rules

Global regulators meet to agree stricter bank rules

As the second anniversary of the Lehman Brother collapse nears, regulators and central bank governors have met in Basel, Switzerland this weekend to discuss tougher capital rules. The agreement could force banks to raise fresh equity in order to withstand future downturns in the global financial system. Following the global financial crisis, the G20 leading [...]

September 12, 2010 | 0 Comments More
Labour admits taxes could go up in order to cut deficit

Labour admits taxes could go up in order to cut deficit

In order to tackle the UK’s deficit, tax hikes could well be on the agenda, according to reports today. Last week, Chief Secretary to the Treasury Liam Byrne suggested that no new tax rises will be required in order to cut the UK’s ballooning deficit. However, in a dramatic u-turn, asked by the BBC yesterday [...]

March 17, 2010 | 0 Comments More
EU report calls for more action in reducing UK budget deficit

EU report calls for more action in reducing UK budget deficit

A report due to be released later this week by the European Commission is expected reveal the Government’s plans for reducing the budget deficit are not ambitious enough. A draft document, which has been seen by the Reuters news agency, warns Britain is not on target to trim its deficit in accordance with EU rules [...]

March 16, 2010 | 0 Comments More
G20 nations agree to ‘tough new regulations’

G20 nations agree to ‘tough new regulations’

At last week’s G20 summit, the world’s leading nations agreed to “tough new regulations”. Following the summit, which took place in Pittsburgh on Thursday and Friday, US President Barack Obama announced that in order to prevent another financial crisis: “We have agreed tough new financial regulations to ensure that the reckless few can no longer [...]

September 27, 2009 | 0 Comments More
Guaranteed bonuses will breach new codes warns FSA

Guaranteed bonuses will breach new codes warns FSA

The Financial Services Authority (FSA) has warned UK financial institutions that guaranteeing bonuses for more than 12 months could mean they are breach of new rules and risk harsh penalties. In a letter to the heads of British banks, chief executive, Hector Sants, said the regulator is determined to “to align remuneration policies, procedures and [...]

July 21, 2009 | 0 Comments More
Airlines flout EU insurance rules

Airlines flout EU insurance rules

A number of low-cost airlines are flouting EU rules on automatically adding travel insurance when flights are booked. An investigation by consumer rights group Which? found that easyJet, Jet2 and Monarch continue to automatically add travel insurance policies at the time of booking. The cost of this extra insurance is between £7 and £10.49 per [...]

June 30, 2009 | 0 Comments More
New Hip regulations come into force

New Hip regulations come into force

Today has seen the introduction of new rules governing Home Information Packs (Hips). From 6th April house sellers in England and Wales must have a Hip in place before marketing a property. Previously vendors could offer their homes for sale without a pack, providing arrangements were in place for one to be available within 28 [...]

April 6, 2009 | 0 Comments More
Minister tightens rules on Hips

Minister tightens rules on Hips

Housing minister, Margaret Beckett, stands accused of putting additional pressure on homeowners by changing the rules that govern Home Information Packs (Hips). Currently vendors can market their properties without a Hip providing they have made arrangements for one to be available within 28 days, however, from 6th April 2009 a pack must be available from [...]

December 9, 2008 | 0 Comments More
Northern Rock withdraws savings deals

Northern Rock withdraws savings deals

Nationalised bank Northern Rock has had to withdraw some of its savings deals after a flurry of deposits has put it close to breaching state ownership rules. Since it was nationalised in February, Newcastle-based Northern Rock has been offering some of the best savings rates, making it highly attractive for concerned savers to put their [...]

October 2, 2008 | 0 Comments More