City watchdog celebrates six months of Senior Managers’ Regime by proposing tweaks September 28, 2016 The City watchdog has today launched a series of consultations for potential tweaks to one of its biggest initiatives to boost culture in financial firms, six months after it started being rolled out. The Financial Conduct Authority (FCA) is looking at ways to bolster the provisions in the Senior Managers' and Certification Regime, which has applied [...]
Plan? What plan? Around a quarter of European companies don’t know what to do about hacks September 28, 2016 A worrying number of European companies have no plans for how to respond to cyber attacks, a study out today has found. Just under half (44 per cent) of the firms surveyed as part of DLA Piper's European Technology Index 2016 revealed they were significantly concerned about the threat cyber crime posed to their business, but a [...]
The great Deutsche Bank sale begins as bailout rumours continue to swirl September 28, 2016 Deutsche Bank sold one of its less core businesses today, prompting speculation that more asset sales are on the cards at the troubled German lender as it faces the prospect of a multi-billion pound US fine. The bank agreed to sell British insurance business Abbey Life to Phoenix, which will bring in nearly £1bn in capital. [...]
Attorney General among government’s legal eagles for Article 50 court case September 28, 2016 Attorney General Jeremy Wright QC has today been confirmed as among the lawyers speaking for the government in the upcoming Article 50 case. Other members of counsel defending the case at the High Court in October are James Eadie QC, Jason Coppel QC, Tom Cross and Christopher Knight. The case, which has been brought against the government [...]
London’s businesses feel glass half full about Brexit September 28, 2016 London's businesses have remained upbeat about the prospects of the capital in the months after the Brexit vote, research out today has found. Less than a tenth (nine per cent) of SMEs and business owners surveyed by Santander said they were pessimistic about the future of London's economy while not even one in five (16 per cent) think [...]
Now Credit Suisse chief Tidjane Thiam sounds alarm on European banks September 28, 2016 Credit Suisse boss Tidjane Thiam has today become the latest in a list of names to warn Europe's banks are not in a healthy state. His comments come as Deutsche Bank's share price is swinging widely as rumours circulate as to whether the German government would be prepared to bail out the lender. The German giant, which [...]
Outgoing Institute of Directors chief sounds the alarm over protectionism September 27, 2016 The outgoing director general of the Institute of Directors (IoD) has today issued a warning to Theresa May and her government not to send the UK down a protectionist path. Calling Brexit "the event of the year" during his opening speech at the IoD's annual convention, Simon Walker cautioned that the country must now not go back [...]
Shareholders regain confidence as suggestions emerge Deutsche Bank might be too big to fail after all September 27, 2016 Deutsche Bank shares finished flat today after an initial three per cent dip, as murmurs surfaced that the German giant might be too big to fail after all. Shares in the lender plunged 7.5 per cent to €10.55 yesterday, after reports over the weekend suggested German Chancellor Angela Merkel would not be prepared to offer state assistance, even [...]
Businesses want watchdogs to get tougher on cyber fails September 27, 2016 Businesses would like regulators to do more to crack down on those with holes in their cyber security, research out today has found. Over three quarters (77 per cent) of the UK board directors surveyed on behalf of NCC Group want watchdogs to take a tougher stance on those with insufficient cyber security measures, while [...]
