The Financial Services Authority (FSA), the UK regulator, will spend 201.6 million on its "mainstream regulatory activities" in 2004 05. This is 2.2% higher than 2003 04 and it is, of course, paid for by the firms that it regulates.
Fundtech says Banco Popular Espaol, the third largest banking group in Spain, has chosen Fundtech's Global PAYplus to replace its existing payment systems. FundTech says BPE is seeking to improve its operating efficiency by increasing its process automation and by
The Bank of New York has become a "listing sponsor" for the Channel Islands Stock Exchange (CISX). This means it will sponsor listings for all types of debt securities on the CISX from its London office. The bank already services
Royal Bank of Scotland, the early favourite o buy the Egg banking and mutual fund supermarket from Prudential, has allowed its period of exclusivity in negotiations to expire without agreement on a price. This means credit card provider MBNA and
Hedge funds are among the principal targets of the strengthened links between the US Securities and Exchange Commission (SEC) and the Paris based Committee of European Securities Regulators (CESR), according to a report in todays Financial Times. Other areas of
The Tokyo financial markets were shaken yesterday by allegations in the Japanese newspaper Nihon Keizai Shimbun that UFJ had deliberately concealed the extent of its non performing loan book from the Financial Services Agency (FSA). It is alleged by the
The UK regulator, the Financial Services Authority (FSA), has taken flak over its failure to anticipate the funding problems at the near collapsed life and pensions assurer Equitable Life. So Equitable Life policyholders will be less than pleased to learn
The Japan Securities Dealers Association (JSDA) is drafting rules to combat the "Sandy Weill writes my investment recommendations" problem in investment banking, which first surfaced in serious form at Citigroup in the United States. JSDA is reported to be revising
Barra has released BarraOne 1.4 for the Asian market. The latest version of its web based risk analysis tool is aimed at fund managers, risk managers and plan sponsors, providing what Barra calls "an intuitive, consistent analysis for domestic as
Change seems to occur at a glacial pace in Japan. In fact, it turns out that takeovers, restructurings and share buybacks for Japanese companies hit a record level in 2003. According to an analysis by RECOF, an independent M&A boutique