EU rules make it harder for firms to cut risk exposure January 15, 2014 BUSINESSES and their customers could face higher costs after new EU rules were approved which could make it harder to cut their risks, lawyers warned yesterday. Rules to increase transparency in derivatives markets could make the industry safer and easier to police, but also mean firms will not be able to find bespoke products to [...]
EU moves toward new regulatory crackdown on HFT January 15, 2014 The European Union has agreed to introduce a plethora of new regulations governing high frequency trading (HFT,) commodity speculation and derivatives trading. The measures come shortly after the introduction of a cap on banker bonuses. The revision to the Markets in Financial Instruments Directive (MiFID) is to be implemented by the end of 2016 and [...]
Overseas investment in London property to hit pre-crisis levels January 13, 2014 OVERSEAS investment in London’s property market could top pre-recession levels by the end of this year, boosted by an influx of spending from Asian buyers. According to figures released today by law firm Mayer Brown, Asian investors doubled their investment in the central London market to £5.8bn last year, up from £2.91bn the previous year. [...]
Banking Bill gets go ahead December 16, 2013 A RAFT of new banking rules got the green light in the House of Lords last night. The rules introduce a licensing regime for senior bankers and erected a ringfence between banks’ retail and investment arms. But lawyers said much detail still needs to be worked out. “It remains to be seen whether this will lead [...]
UK banks get break from Volcker’s toughest plans December 10, 2013 BRITISH banks with US arms will be allowed to trade in UK government bonds on their own books, US authorities revealed yesterday, diluting earlier plans to ban the transactions. The incoming Volcker Rule is designed to stop banks trading on their own behalf on many financial markets, in a bid to stop what critics believe [...]
Lenders facing prop trading ban in America December 9, 2013 THE VOLCKER Rule is set to be approved today by regulators, who are voting on the controversial plans to ban banks from trading with their own money. New regulations will also restrict banks’ investment in hedge funds, as part of a wider set of measures to reduce the risks banks take. The rule is named [...]
City Moves for 15 November 2013 | Who’s switching jobs November 14, 2013 Sullivan & Worcester The law firm has announced the hire of Mark Norris as a finance partner in its London office. He was most recently at Squire Sanders, where he was a banking and finance partner. Norris has previously held various roles at Simmons & Simmons and Clifford Chance. PwC Michael Spiteri has joined the professional services [...]
City Moves for 25 October 2013 | Who’s switching jobs October 24, 2013 Aon Hewitt The human resources solutions firm has announced the hire of Stephen Hackett as head of health and risk in its benefits solutions practice. He joins from Capita Employee Benefits, where he was head of health management. Prior to that, Hackett was head of employee benefits at Bluefin. Jupiter The asset management company has [...]
City Moves for 17 October 2013 | Who’s switching jobs October 16, 2013 Colliers International The property company has announced the appointment of Michael Hawkins as a partner in its national offices team. He was most recently at WHR Property Consultants, where he was a partner advising property and development companies, funds, and investors. Prior to that, he spent ten years at Lambert Smith Hampton. Balderton The European venture [...]
City Moves for 08 October 2013 | Who’s switching jobs October 7, 2013 Cushman & Wakefield The property company has hired George Edwards as an associate in its London development team. Edwards was most recently at Lambert Smith Hampton, where he was an associate director and member of its investment advisory services team. Mayer Brown The law firm has appointed two partners to its banking and finance group in [...]