Tag Archive for prudential

FCA and PRA jointly fine Mr James Staley £642,430 and announce special requirements regarding whistleblowing systems and controls at Barclays

The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have together fined Mr James Staley, Chief Executive of Barclays Group (Barclays), a total of £642,430. Mr Staley failed to act with due skill, care and diligence in the way he acted in response to an anonymous letter received by Barclays in June 2016.

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FCA and PRA jointly fine Mr James Staley £642,430 and announce special requirements regarding whistleblowing systems and controls at Barclays

FCA and PRA appoint new Chair of the FSCS

The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) today announce the appointment of Marshall Bailey as Chair of the Financial Services Compensation Scheme Ltd (FSCS) with effect from 1 April 2018. The appointment was made by the FCA Board and the Prudential Regulation Committee (PRC) with the approval of HM Treasury. Marshall Bailey succeeds Lawrence Churchill who is stepping down after two successful terms as Chair.

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FCA and PRA appoint new Chair of the FSCS

FCA statement on compliance with Joint Committee Guidelines on Acquisitions and Increases of Qualifying Holdings (Changes in Control)

The Joint European Supervisory Authorities (ESA) Guidelines on the prudential assessment of acquisitions and increases of qualifying holdings in the financial sector come into force on 1 October 2017. The FCA and PRA have notified the ESAs that they will comply with the Guidelines except for provisions relating to the identification of acquirers of indirect qualifying holdings.  Firms should continue to use the existing methodology as laid out in Part XII FSMA to identify proposed and/or existing controllers. For guidance on identifying controllers please refer to the quick reference guide (PDF)

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FCA statement on compliance with Joint Committee Guidelines on Acquisitions and Increases of Qualifying Holdings (Changes in Control)

FCA statement on compliance with Joint Committee Guidelines on Acquisitions and Increases of Qualifying Holdings (Changes in Control)

The Joint European Supervisory Authorities (ESA) Guidelines on the prudential assessment of acquisitions and increases of qualifying holdings in the financial sector come into force on 1 October 2017. The FCA and PRA have notified the ESAs that they will comply with the Guidelines except for provisions relating to the identification of acquirers of indirect qualifying holdings.  Firms should continue to use the existing methodology as laid out in Part XII FSMA to identify proposed and/or existing controllers.

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FCA statement on compliance with Joint Committee Guidelines on Acquisitions and Increases of Qualifying Holdings (Changes in Control)

Pence to Latin America, Kenya election

Josh de la Mare previews some of the big stories in the week ahead, including a tour of Latin America by US vice-president Mike Pence as Venezuela tensions continue, UK insurers’ results, including Prudential and Standard Life, and key elections in Kenya.

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Pence to Latin America, Kenya election

BoE demands bank response to consumer credit concerns

Some lenders complacent about potential losses, says Prudential Regulation Authority

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BoE demands bank response to consumer credit concerns