MiFID II death knell for RDR
The UK's Retail Distribution Review could be in danger of being overridden by the EU's MiFID II directive.
European Commission
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EC fines banks 1bn over interest rate rigs
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.
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new european commission rules clamp
New rules which will severely curtail the so-called “shadow banking” industry, including money market funds, in Europe have been proposed by the European Commission.
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London to relinquish Libor control
London could be stripped of its oversight of interbank lending rate Libor if Brussels succeeds in passing a law to bring it under control of the Paris-based European Markets and Securities Authority (Esma).
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uk unveils fatca type info exchange
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.
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EU asset manager bonus cap ruling may be diluted
The proposed 1:1 bonus cap for asset managers may be eased after a key MEP indicated that he was willing to compromise on the proposition.
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pa analysis cyprus investing not saving
The backing of the European Commission, its Central Bank and the IMF for a one-off levy on Cyprus-held bank accounts points to a dangerous precedent of not protecting individuals' savings – so what hope for investors?
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ftt approved by european
The European Commission has given the green light to 11 EU member countries, including Germany and France, to go ahead with a planned Financial Transaction Tax (FTT), although the UK has chosen not to take part.
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FSA will not back down over commission ban
Just because the European Commission has banned commission payments in Europe…a similar ban, quite rightly, is not going to happen over here.
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rating agencies shake up unworkable and unlikely
The news the European Commission is proposing a further clamp down on credit rating agencies should hardly come as a surprise, since throughout the sovereign debt crisis, the rating agencies have been pilloried as the villains of the piece.
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Investor protection could be removed from SRI funds
The European Commission proposes funds invested in social businesses be exempt from Ucits.
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PA ANALYSIS: Conflicting policies create more fund risks
Conflicting policies creates uncertainty for advisers and fund providers.