05 November 2009 - Complyport UK Consultancy Service

New Liquidity rules come into force on 1 December 2009 – Are you ready?

If your firm is a BIPRU firm then the following should assist in complying with the new liquidity rules coming into force this December. If your firm is not a BIPRU firm (e.g. an exempt CAD) then this is for information purposes only. The liquidity requirements contained in the new [...]

Private Equity & Conflicts of Interest

IOSCO – the International Organization of Securities Commissions – has published a consultation paper on ‘Private Equity Conflicts of Interest’. The working group was chaired by Dan Waters, the FSA’s Conduct Risk Division Director. The document outlines the key conflict of interest risks through the life cycle of a typical [...]

Sukuk and see

HM Treasury and FSA have issued a joint document on ‘alternative finance investment bonds’ (‘AFIBs’). These are a subset of the sukuk market, which in turn are financial instruments that conform to the principles of Islamic law (Shariah). The structure of some sukuk instruments means that they will be regarded [...]

Financial Action Task Force report (‘FATF’)

FATF has released a report on Money Laundering and Terrorist Financing in the Securities Sector. The document is based upon a mixture of questionnaire results and workshops/consultations. Comment is made that suspicious transaction reports (‘STR’) in the securities industry are relatively low, although the theories on why this may be [...]

Fine time

UBS (AG) has been fined £8m for failures in systems and controls that enabled four employees to carry out unauthorised transactions involving customer money ‘on at least 39 accounts’. As is the norm, the fine would have been larger (£10m) but for UBS agreeing to settle at an early stage. [...]

Day: 5 November 2009

New Liquidity rules come into force on 1 December 2009 – Are you ready?

Private Equity & Conflicts of Interest

Sukuk and see

Financial Action Task Force report (‘FATF’)

Fine time

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