Two whistleblowers have been handed suspended prison sentences and fined by a court in Luxembourg for their part in leaking the secret files that led to the Luxembourg Leaks investigation and helped reveal widespread aggressive tax avoidance by some of the world’s largest multinational corporations.
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by Jaime Caruana

The rebalancing of policies and improvements to frameworks carry high stakes for central banks. The past few years have confirmed how indispensable the institution has become. Independence, within their mandates, allowed central banks to act with determination to cope with the financial crisis. This determination was critical at the time for putting the global economy on the path to recovery.
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by Adam Oldfield

‘Frictionless Banking’ is one of those industry terms that feels like it has already become a cliché. In reality, it has become a more important topic than ever. Over the last 36 months, the Financial Services industry appears to have reached a consensus on what the term actually means. Broadly speaking, frictionless banking once only referred to the streamlining of back office processes in order to deliver quicker turnarounds and reduce internal costs.

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After the Global Economy Meeting (GEM)1, which took place on the occasion of the BIS Annual General Meeting, Agustín Carstens, Chairman of the GEM, made the following statement. Continue reading…

by Christophe Donay

Results from the UK’s referendum on membership of the European Union (EU) indicate that voters have decided the UK should leave the EU. This result is likely to have wide political, economic and financial market repercussions, leading us to alter our economic and market forecasts and, potentially, our asset allocation. Continue reading…

On 23 June, the UK voted to leave the European Union (EU). This has significant implications for the UK.  The FCA is in very close contact with the firms we supervise as well as the Treasury, the Bank of England and other UK authorities, and we are monitoring developments in the financial markets.

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Following an investigation by the Financial Conduct Authority Michael Nascimento (DOB: 28/06/1977); Hugh Edwards (DOB: 13/07/1982); Stuart Rea (DOB: 12/02/1968); Ryan Parker (previously known as Ryan Sell DOB 26/11/1992) and Jeannine Lewis (DOB: 15/09/1967), all of whom live in London and the South East, appeared today before Southwark Crown Court charged with conspiracy to defraud, together with offences under the Financial Services and Markets Act 2000 and the Fraud Act 2006.  Continue reading…

Risk management is growing in stature within businesses, but there is more work to be done, according to Airmic’s technical director, Julia Graham. Speaking at the launch of a report by ACE on the changing role of the risk manager, Julia said that risk management is transitioning from a discipline to a profession. “There is no doubt that we are tomorrow’s risk leaders,” she said. “But we absolutely need to make sure that risk managers are equipped with the right skills.”

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Velocimetrics, today announces that firms adopting VMX EndToEnd will be able to provide an unlimited number of users with direct access to its powerful, actionable insights without incurring additional cost or implementation effort. Introducing a new secure browser-based user interface, clients will be able to retrieve VMX EndToEnd’s rich analytics from anywhere via a laptop, desktop or mobile device.  Continue reading…

Damian Clarke, a former equities trader at Schroders Investment Management has today been sentenced to two years imprisonment having pleaded guilty to nine counts of insider dealing. Confiscation proceedings will also be pursued against Mr Clarke.
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