The International Association of Deposit Insurers (IADI) today announced the selection of Mr. David Walker to succeed Ms. Gail Verley as Secretary General of IADI, effective 01 October 2016 for a four-year term.
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The Financial Conduct Authority (FCA) has today announced the level at which it will consult to cap early exit charges for those consumers wishing to make use of the pension freedoms. The FCA has proposed that for existing contract-based personal pensions, including workplace personal pensions, exit charges will be capped at 1% of the value of a member’s pot. Firms will not be able to apply any exit charge for personal pension contracts entered into after the proposed new rules come into force.

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Tony de Bree

In order to understand the principles and trends in digital transformation of organizations and the organization of the future, we first have to understand why traditional organizations economically exist in the first place. In other words ‘why organize something’?  Continue reading…

Nordea welcomes the Swedish Financial Supervisory Authority’s (SFSA) approval of the merger plans between Nordea and its subsidiary banks Nordea Bank Danmark, Nordea Bank Finland and Nordea Bank Norge, respectively. This is an important step in our work to simplify our legal structure, with the aim to change the Norwegian, Danish and Finnish banks to branches of the Swedish parent company.  Continue reading…

The Financial Conduct Authority (FCA) has banned Mr Peter Johnson, former compliance officer of Keydata Investment Services Ltd (Keydata), from performing any function in relation to any regulated financial activity and publicly censured him. Were it not for Mr Johnson’s serious financial hardship, the FCA would have fined him £200,000.
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In a case brought by the Financial Conduct Authority (FCA) and following a three-month trial at Southwark Crown Court, two defendants – a senior investment banker and a Chartered Accountant – have been convicted of conspiring to insider deal between November 2006 and March 2010. Three other defendants, Andrew Grant Harrison, Ben Anderson and Iraj Parvizi, have been acquitted.
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Last Friday, the Financial Stability Board (FSB) hosted in Basel, the tenth meeting of the FSB Regional Consultative Group for Europe (RCG Europe) under the co-chairmanship of Anne Le Lorier, First Deputy Governor, Banque de France (see photo) and Jon Nicolaisen, Deputy Governor, Norges Bank. At their meeting, members of the FSB RCG Europe discussed the progress made by two working groups set up by the RCG Europe. One has reported on Nordic experiences of cooperation on cross-border regulation and crisis resolution. The other will start its work on private pension schemes resilience.
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Presentation by Mr Claudio Boro, Head of the Monetary and Economic Department of the BIS, at the Seventh high-level SNB-IMF conference on the international monetary system in Zürich on 10 May 2016. Continue reading…

The decision to produce Airmic’s guide to scenario analysis – and support it with a member-only seminar at the annual conference reflects the growing professionalisation of risk management in general and commercial insurance in particular.

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Today, the Central Bank of Nigeria hosted the ninth meeting of the Financial Stability Board (FSB) Regional Consultative Group (RCG) for Sub-Saharan Africa in Abuja, Nigeria. At the meeting, members of the FSB RCG for Sub-Saharan Africa began by reviewing the FSB’s work plan and 2016 priorities, namely: promoting full, consistent and timely implementation of the international financial reforms; finalising the design of the remaining post-crisis reforms; and addressing new risks and vulnerabilities.  Continue reading…