European Parliament agrees action against anonymous shell companies 18/12/2014 The ultimate owners of companies would have to be listed in central registers in EU countries, accessible to people with a "legitimate interest", such as investigative journalists and other concerned citizens, under a deal just struck by Parliament and EU Council negotiators on a draft EU anti-money laundering directive.
New Abu Dhabi wealth centre selects Hector Sants as adviser 17/12/2014 Sir Hector Sants, who was chief executive of the Financial Services Authority (FSA) from July 2007 to June 2012, is to advise Abu Dhabi on its plans to become a leading offshore financial centre (see thewealthnet 15/12/2014).
FCA declares RDR is working, though no fall in adviser charges 16/12/2014 The Financial Conduct Authority (FCA) has declared that the Retail Distribution Review (RDR) is working successfully although the regulator still has concerns about the way some firms are introducing its sweeping reforms of the investment advice industry, particularly for charges.
Former Blackrock 'Cannon Street ticket dodge' executive banned 15/12/2014 The Financial Conduct Authority has banned Jonathan Paul Burrows, formerly a managing director at Blackrock Asset Management Investor Services from performing any function in relation to any regulated activities for not being fit and proper.
UK regulator to overhaul regulatory processes 09/12/2014 The Financial Conduct Authority is to overhaul its regulatory processes in response to increasing pressures which have seen its remit grow threefold over the past 18 months.
In praise of boutiques and start-ups: and how regulators are doing their best to stifle them 09/12/2014 A new report from the New City Initiative (NCI), the London-based financial think tank launched by Stanhope Capital’s Daniel Pinto in 2010, claims that the European Union and UK regulatory systems are stymying the flow of new start-ups and boutique asset managers. This is likely to have perverse effects on competition and, by implication, the price and quality of investment and wealth management services available to consumers.