FSA

Michael Beaton explains the ins and outs of the new CASS Resolution Packs that some firms will have to produce and maintain regularly to meet new FSA proposals regarding recovery and resolution plans for client money

CME Clearing Europe, a wholly-owned subsidiary of CME Group, today announced that it is approved as a Recognised Clearing House (RCH) by the Financial Services Authority (FSA) of the United Kingdom. Barclays Bank PLC and J.P. Morgan will act as the first settlement banks for CME Clearing Europe and will be a central part of its payment infrastructure. J.P. Morgan will also provide custody and liquidity services.

The Financial Services Authority (FSA) today announced the appointment of Simon Prior-Palmer and Robert Stansbury as senior advisors.

Simon will advise on the investment banking sector. He has more than 30 years experience in investment banking at Credit Suisse, formerly Credit Suisse First Boston, and JP Morgan. He led investment banking in the UK at Credit Suisse from 1988 to 1998.

Securities and Exchange Commission chairman Mary L. Schapiro today met separately in London with chairman Adair Turner of the UK Financial Services Authority (FSA) and the Chief Executive of the UK Financial Reporting Council (FRC) Stephen Haddrill to discuss a number of issues of common concern.

International provider of integrated risk and finance solutions, Financial Architects (FinArch), delivers Liquidity Risk Calculation and Reporting solution to HSBC Europe to meet the UK FSA Liquidity Risk Reporting requirements.

After a thorough examination of the available technologies, HSBC has selected Financial Studio from FinArch to deliver systems support for Liquidity Risk Calculation and Reporting.

In a speech at the Mansion House tonight, the chairman of the Financial Services Authority, Lord Turner, will say that to design an effective regulatory response to the financial crisis, we need to move beyond the demonization of over-paid financial traders and recognise the fundamental mistakes made by policy makers.

"In finance and economics", he will say, "ill-designed policy is a more powerful force for harm than individual greed and error".

Given the linkages between our markets, it is vital that both regulators cooperate closely with each other

The Financial Services Authority (FSA) and the US Financial Industry Regulatory Authority (FINRA) have entered into a Memorandum of Understanding (MOU) to support more robust cooperation between the two regulators.

Mark Hoban MP, Financial Secretary to the Treasury, today announced the appointment of Margaret Cole to the Financial Services Authority (FSA) Board, with effect from 7 September 2010.

Margaret Cole joins the Board as Managing Director for Enforcement and Financial Crime.

Mark Hoban MP said:

"I welcome the appointment of Margaret Cole to the FSA Board. Her credentials mean that she will bring valuable insight and experience to enhance further the strength of the FSA Board."

There are clear benefits of participants in traded financial markets taking risks to facilitate a more efficient allocation of resources across the economy...

The Financial Services Authority (FSA) has today published a discussion paper (DP) that considers fundamental changes to the regulation of trading activities – one of the key recommendations of the Turner Review following material trading losses incurred during the crisis.

The new UK coalition government announced that it will introduce legislation to disband the UK financial regulator, the Financial Services Authority (FSA), which was established by the previous government in 1997. Legislation will devolve the FSA's regulatory and supervisory powers to a variety of other financial regulatory supervisory bodies by 2012. Bob McDowall of TowerGroup reviews the impact of the prospective changes on financial services institutions.