The chief executive of the Financial Conduct Authority Andrew Bailey has questioned whether financial firms should have to move owing to Brexit, adding that “authorities” should not dictate where financial firms are based.
Europe is dividing opinions after softer economic sentiment data failed to live up to forecasters’ optimistic predictions on Tuesday (30 May).
The Investment Association said it welcomes the publication of draft EU rules on how key information about investment products should be presented to consumers.
Election uncertainty and pension reforms contributed to fund platforms enduring a lethargic first quarter, according to data released by Fundscape.
A consultation on whether to extend the Alternative Investment Fund Managers Directive (AIFMD) beyond Europe has closed, and will now be used to determine the European Commissions legislative stance on the matter.
Long-term funds closed off a strong second quarter for Europes fund market, with inflows of 36.12bn throughout June, a month which also saw UK equity income funds achieve record sales.
The UK Wealth Management Association has strongly recommended that retail and wholesale markets are clearly differentiated in the next EU legislative mandate in order to avoid a blunderbuss approach to regulation.
The European Commission has fined a group of eight financial institutions a total of 1.7bn (£1.4bn), for forming illegal cartels to rig interest rates.
Earlier this month the European Commission introduced plans to create a new type of investment fund for more illiquid assets, such as infrastructure, which can be passported around Europe.
Taxpayer money will be a last resort for struggling banks should the latest EU bailout plan be approved, finance ministers have announced this morning.
US bond investors are more bullish about the global economic outlook than UK equities investors, indicating for the first time that geographic location rather than the targeted asset class is driving sentiment and market confidence, research has revealed.
The UK government today announced it is to develop and pilot a new “multilateral tax information exchange agreement” with four of its largest fellow EU members.
