How equal are women? According to the World Economic Forum (WEF), not very. It released the startling estimate that we will have to wait until 2095 to close the gender gap. The UN has pledged to tackle this and want to achieve gender equality by 2030.
The final report of the Fair and Effective Markets Review (FEMR) was published last week. Commissioned in response to the series of scandals that have blighted the fixed income, currency and commodities (FICC) markets, the Report’s account of the shortcomings that led to such scandals is depressingly familiar; a combination of:
It is with some disquiet and unease that I have been reflecting on the finer points of the recent enforcement action that was published earlier this month by the FCA concerning the affairs of the Bank of Beirut and in particular the personal sanction announced of the Compliance Officer and Internal Auditor, and I felt compelled to put pen to paper.
As a neat follow up to Dave Robson’s blog earlier this week (view here), which provided a succinct analysis on two key areas of the HSBC annual report, risk and legal proceedings, here’s my take on the RBS 2014 results released yesterday. Bearing in mind you and I (the UK taxpayer) own almost four-fifths of RBS; it’s an opportune time to find out how they are performing, particularly around risk.....More
As we enter 2015 financial institutions are confronted with an uncertain and shifting economic and political landscape. 2014 has seen slower than hoped for global economic expansion with stalling Chinese growth and the burgeoning Rouble crisis, while the current situation in Greece places the future of the Eurozone in the balance. Meanwhile, for UK financial institutions, political uncertainty abounds ahead of the next general election.
With the impending change in UK regulation flooding towards us like the recent wet weather, the FSA are 'drip' feeding information to the industry as they continue along their metamorphic journey in a bid to help ease the transition we will all have to deal with in some form or another.....More
With recent speeches to the British Bankers' Association by both Martin Wheatley and Clive Adamson, and the resignation of Margaret Cole, we are beginning to get a clearer picture of the approach and focus of that the Financial Conduct Authority will have when it assumes its powers in a year's time.