In the light of the Serious Fraud Office’s (SFO) decision to launch an investigation into the business and accounting practices at Quindell Plc, and following consultation with the SFO, the Financial Conduct Authority has decided to discontinue its own investigation with immediate effect.

Learn about best practices from industry leaders and see how Vena delivers true value to your organization with a unified, cost effective solution.  Have a look at the video Vena in 90 Seconds below.

Continue reading…

The Cabinet issued a resolution granting the insurance companies operating in the United Arab Emirates (UAE)  in the combined business of insurance of persons and fund accumulation operations along with property and liability insurance a period of one year starting from 28 August 2015 to regularize their positions in accordance with the provisions of Article No. 25 of the Federal Law No. (6) of 2007 concerning the Establishment of the Insurance Authority and Regulation of Insurance Business.

Continue reading…

Willem Lambrechts

To be truly competitive in the global capital markets, companies need to have high-speed, latency-sensitive connections to ensure fast and reliable trading.Instead of setting up your own private networks with customers, you can use a financial extranet: a well-connected network of thousands of capital market participants such as buy-side firms, sell-side firms, inter-dealer brokers, liquidity venues, independent software vendors and market data providers.

Continue reading…

The Financial Conduct Authority (FCA), alongside the Prudential Regulation Authority (PRA), has today published near final rules confirming how it will apply the new accountability regime to UK branches of overseas banks, and also confirms reforms to the approved persons regime for Solvency II firms.

Continue reading…

The Upper Tribunal has released its judgment in relation to Timothy Roberts and Andrew Wilkins of Catalyst Investment Group Limited (“Catalyst”). The Tribunal decided to impose a fine of £450,000 and to prohibit Mr Roberts from performing any role in regulated financial services. The Tribunal also decided to fine Mr Wilkins £50,000. It referred back to the FCA a decision on whether to impose a prohibition on Mr Wilkins. It remains open to the parties to appeal the Tribunal’s judgment.

Continue reading…

The Board of Directors of Nordea Bank AB has appointed Casper von Koskull new president and Group CEO and Torsten Hagen Jørgensen new Group COO and deputy Group CEO.
Continue reading…

Conventional risk tools are no longer fit for 21st century businesses, according to Airmic’s chief executive. John Hurrell said a new approach to risk mapping should be considered and urged members to get involved in the debate on Airmic’s discussion paper on risk and the business model.
Continue reading…

Harry Smorenberg

As we are still very much focused on payment developments in the areas of cards, mobile, and new instant payment infrastructure… technology will change the payment / transaction space dramatically. Bitcoins opened the eyes of many where the existing gatekeepers raised many questions, afraid for the unknown and uncontrolled new market movements. But the various developments of “Bitcoins” is just one face of the underlying potential of “Blockchain technology” ! Blockchain is well positioned to change the entire transaction landscape dramatically.
Continue reading…

MasterCard and Samsung Electronics Co., Ltd announced they are extending their global partnership leveraging the MasterCard Digital Enablement Service (MDES) to deliver Samsung Pay in Europe. Samsung Pay is a mobile payment service that will enable consumers to use their Samsung flagship mobile devices to make every day in-store purchases at contactless and magnetic stripe terminals leveraging NFC and MST technologies. Continue reading…