Search

Reports on the planned changes to the corporate broking relationship and other parts of the listing regime in a consultation paper released by the Financial Services Authority (FSA) of Great Britain. Proposal of the paper on companies wanting to delist; Reaction of the London Stock Exchange to the proposals; Merger of the British listing authority and the markets and exchanges division of FSA.

The article reports on the revised regulatory framework introduced by the British Financial Services Authority. The proposals, along with the accompanying discussion paper, are based on initiatives already being implemented at the FSA, at the European Union or in the Basel Committee on Banking Supervision. When combined, they aim to boost capital adequacy rules, introduce a gross leverage ratio and a core funding ratio and strengthen supervision and manage macro-prudential risk.

The article discusses the white paper published by the Conservative opposition party of Great Britain which outlines its plans for reform of financial regulation, including the cancellation of the Financial Services Authority (FSA). The party recommends returning micro-prudential regulation to the Bank of England and creating a new Consumer Protection Agency. The proposal opposes the government's plans to give the FSA a statutory mandate for financial stability in addition to its micro-prudential role.

The article offers information on the paper entitled "Principles-Based Regulation -- Focusing on the Outcomes That Matter," released by the British Financial Services Authority (FSA) in April 2007 to clarify its progress towards a more principles-based approach. According to the Financial Services Practitioner Panel (FSPP), the paper provided a helpful framework and focus for senior management. The new approach would mark a shift from the rule based approach which the FSA has had since 1934.

The article reports that Great Britain's Financial Services Authority (FSA) is unlikely to make rapid changes to the structure of British rights issues in the wake of problems with HBOS, Bradford & Bingley and others in recent months. A spokeswoman for the FSA in London, England, confirmed that a high level group, including representatives of the Treasury, the FSA and other undisclosed groups was considering rights issues.

The article discusses the developments in the financial market in Great Britain. It reports on the move by the British Debt Management Office (DMO) to print its inaugural syndicated trade of 2013 that has quickly reached full subscription in early February 2013. The deal is managed by the Hong Kong and Shanghai Banking Corp. (HSBC), Morgan Stanley, JP Morgan, and RBC Capital Markets. The opinion of DMO's Robert Stheeman on the deal is also cited.

The article discusses market reactions on consultations launched by Great Britain's Financial Services Authority on bank resolution and recovery as of August 12, 2011. Market players reportedly warned that the consultations blurred requirements for banks to facilitate winding up and make taxpayer-funded rescues less likely. It notes that the proposals were widely welcomed with bankers differing on their impact compared to that of next month's paper from the Independent Commission on Banking.

The article offers news briefs related to the financial services industry. Deutsche Bank and UBS priced the debut residential mortgage securitisation from Greece's NovaBank, a subsidiary of Millennium bcp that was established in 2000. Royal Bank of Scotland is to become the third credit card issuer in Great Britain to provide credit enhancement to its outstanding bonds by issuing double-B notes from its Arran master trust. British Land is refinancing its securitisation of a super regional shopping center in Great Britain.

The article offers news briefs on issues related to syndicated loans in the financial services industry in Great Britain. It says that the £400 million multicurrency facility of Rentokil, cleaning services and pest control group, has been signed. $1 billion commercial paper backstop facility has been signed by brewing and distilling company SABMiller. A £350 million debt facility is launched by insurer Standard Life Bank in the market.

Reports on the policy of Great Britain's Financial Service Authority (FSA) against British banks' issuing tier one capital notes. Overview of the ruling of the FSA on tier one notes-style structures; Overview of capital structures encouraged by the FSA; Criticisms from financial analysts and bankers against the FSA policy.

The article analyzes the proposal given by the Financial Services Authority (FSA) of Great Britain that, that special purpose acquisition companies should not be able to gain premium listings in the country. It is reported that, the reason given by the FSA for the proposal is that, although the advisory companies provide effective executive management, they are not accountable to shareholders.

The author talks about several issues related to the financial industry in Great Britain as of February 2011. A new philosophy has been launched by Crédit Agricole SA. The author offers information on the status of the business operations of Citibank NA and Deutsche Bank AG. He also mentions that Nomura Group head of European commercial paper (ECP) Sophoa Rozza gave birth to a baby girl.

The article presents news briefs related to the financial services industry in Great Britain. The Treasury department has proposed several policy initiatives which are designed to reduce the impact of the possible failure of city investment banks. Paul Bartlett was hired by Morgan Stanley as managing director and head of fixed income capital markets for central and eastern Europe, Middle East and Africa. Brian Moynihan was promoted as chief executive officer (CEO) of Bank of America.

This article reports on the feedback document published by the Financial Services Authority of Great Britain in September 2005 regarding its Capital Requirements Directive. The document reveals the comments that were made by 45 respondents, the document sets out some of the decisions of the Financial Services Authority on matters of local discretion, including some in the securitisation regime. The report confirms that only the high level requirements of the current British securitisation framework will be carried forward to the new regime, and agrees with industry comments that banks should review legal documentation on a regular basis.

Reports on the creation of a new unit to regulate the financial services industry by the British Financial Services Authority in Great Britain in 2005. Amount to be spent by the authority in updating its computer systems; Efforts of the authority to supervise the hedge funds in the country; Views of Peter Astleford, co-head of the global financial services group at law firm Dechert, on the reasonableness of a report released by the authority.

Reports on the move of Great Britain's Treasury to hold a consultation process with financial institutions on the European Union's proposals on the Basel II capital adequacy directive. Statement from the Treasury about the aim of the consultation; Content of the Treasury document on the Basel II Accord.

The article offers news briefs on international bond issues in the financial services industry as of March 24, 2006. Royal Bank of Scotland is one of the joint bookrunners of a deal of Banca Intesa SpA. Cheap pricing was applied on a deal of Bank of America Corp. British and Asian investors led the demand for a deal of Commonwealth Bank of Australia.

Addresses the role of the rating agencies in the insurance industry in Great Britain. Importance of a regulatory regime to the industry; Reasons behind the prominent role of the rating agencies in the industry; Role of rating agencies in issues concerning capital securities. INSET: Swiss Re goes for maximum.

Presents information on the Policy Statement 04/16 regulatory regime introduced by the British Financial Services Authority which authorizes insurance companies to issue forms of capital like those used by banks. Purpose and components of the regulation; Challenges encountered by insurance companies; Information on the Capital Resources Requirement.

Looks at the development of Solvency I regulatory regime introduced by the Financial Services Authority for insurance companies in Great Britain. Aim of Solvency I; Description of the framework of the regulatory regime; Impact of stockmarket on insurance companies.

The article reports that Great Britain's Financial Services Authority (FSA) is reviewing its approach to assessing covered bonds and asset encumbrance, and says that in the meantime issuers must discuss in advance all plans for covered bond issuance. The FSA wrote to the British Bankers' Association and the Building Societies Association, laying out its position.

The article presents information on the plans of the Great Britain Debt Management Office (DMO) to cut its planned syndication volumes by more than half for financial year 2013-2014 as compared to the previous fiscal year. The DMO has said that it is planning to launch a minimum of four syndications.

The article discusses the developments in the international financial market as of November 2011. It cites the sustained sell-out transactions by the British government, with its latest 3.5 billion British pounds 2029 linker attracting a record 10 billion pound bids in just 60 minutes. The opinion of Axa Investment Managers' David Dyer on the market situation is also cited.

The author reflects on various issues concerning the financial services industry in Great Britain. According to the author, fund managers should have the skill to know what kind of broker they have. He mentioned that he sent his offline tax returns on the last day of the deadline. He also talked about the strike affecting Royal Mail.

The article reports on the splitting of Northern Rock into 'good' and 'bad' banks after the European Commission (EC) approved the British government's restructuring plan for the financial services company. The government will guarantee the bad bank, which will hold the issuer's mortgages. The existing bank's commercial activities will be continued by Northern Rock. The Financial Services Authority (FSA) has proposed that Northern Rock continue to service all customer savings accounts and some existing mortgage accounts.

This section offers news briefs related to the financial services industry. In France, Apax Partners, a private equity firm, has mandated Société Générale as sole bookrunner to arrange the debt finance. AIB in Great Britain has won the mandate to arrange the debt backing FL Partners' buy-out of horse racing newspaper, the "Racing Post." Bank of America, Citigroup, Credit Suisse and JP Morgan are arranging the debt or the buy-out of contact lens group Bausch and Lomb by sponsor Warburg Pincus.

The article reports that F&C Asset Management had the task of selling its inaugural transaction to investment managers in Great Britain. Looking at the success of the £260 million 20 year non-call 10 tier two via JP Morgan Cazenove and Royal Bank of Scotland, it did a good job of convincing them that fund management was worth buying into. The deal was the first from the sector in a public format. Only few orders were lost and demand followed pricing leading to a tightening to 203-201 basis point over.

The article provides information on the Beluga Master Issuer 2006-1 mortgage-backed security (MBS) arranged by Fortis Bank. The Beluga Master Issuer is the first deal to emerge from one of three new MBS platforms Fortis is working on to fund its Dutch mortgage book. While not technically a master trust, Beluga Master Issuer is structured specifically to replicate certain features of trust programmes in Great Britain pioneered by lenders such as HBOS and Abbey.

The article offers news briefs related to the financial services industry in Great Britain. Business travel operator Hogg Robinson's £220 million post-initial public offering arrangement via bookrunners HSBC and Royal Bank of Scotland has closed. National Grid has signed an amendment and extension to its $1.5 billion 364 day syndicated multi-currency revolver.

Provides information on the changes in the soft commission charges of the British Financial Services Authority (FSA) in 2004. Overview of the FSA rules; Definition of execution and research according to the rules; Views of Hector Sants, managing director of the wholesale business of FSA, on services which may not be paid for from commission.

Reports on the wide-ranging set of draft solvency rules for insurers issued by Great Britain's Financial Services Authority (FSA). Impact of the rules on securities insurers; Statement from Peter Vipond of the Association of British Insurers about the policy statement of the FSA; Basis of the framework for life insurance companies; List of securities that the FSA has exempted from the credit risk test; Rules governing capital tiering for both life and non-life insurance companies.

Reports on a negotiation between lead managers Goldman Sachs and SG to price the refinancing of bank debt for the Tube Lines consortium in Great Britain. Role of Tube Lines in the ownership of the public private partnership concession to upgrade the London Underground; Structure of the financing deal; Performance of the consortium related to bonuses and penalties.