The European Commission has decided to formally request Slovakia to remove its investment restrictions on statutory pension funds, which in the Commission's view constitute an infringement of Article 56 Treaty EC prohibiting restrictions on free movement of capital. This formal
Turquoise, the multi lateral trading facility established by nine European investment banks, will use The Transaction Auditing Group Inc.'s (TAG) best execution expertise to provide them with independent daily execution performance measurements. The Turquoise platform, on schedule to launch in
Celent a Boston based financial research and consulting firm, outlines a framework geared toward mitigating inherent risks borne by financial institutions' complex network of models in a new report, "Model Validation Practices Achieving Value Added." Key findings in the report
Britain's bosses have been warned that they will become targets of future probes by the Financial Services Authority as the watchdog seeks to crack down on market abuse, The Telegraph reports. The FSA's director of enforcement, Margaret Cole, says the
The Basel Committee on Banking Supervision issued for public comment enhanced global Principles for Sound Liquidity Risk Management and Supervision. The Basel Committees goal in developing these global standards is to significantly raise the bar for the management and supervision
FRSGlobal, a provider of risk and regulatory reporting services with coverage for 30+ countries, announced the launch of its FinancialAnalytics solution in Asia Pacific and Japan. The launch of FinancialAnalytics will enable banks in the region to standardise and consolidate
The need for sophisticated compliance solutions to support structured products and derivatives is increasing in importance due to trends in the asset management industry such as the expansion of eligible asset classes under the UCITS III framework. DekaBank, one of
The Financial Services Authority (FSA) has fined Woolworths Group plc 350,000 for failing to disclose information to the market in a timely manner. On 20 December 2005, Woolworths became aware of a variation to the terms of a major supply
According to sources contacted by Bloomberg, the Securities and Exchange Commission (SEC) might recommend that the firms be barred from advising banks on how to attain AAA ratings on asset backed securities, reports Bloomberg. At a meeting in Washington this
Knowledge Mosaic LLC, a provider of web based compliance applications for highly regulated industries, released of KM PolicyWatch, a product created in direct response to feedback from the worlds leading investment and banking firms. The tool aims at what has