11/09 Financial services and regulation Legal Eye
An overview of recent developments
In this issue:
Financial services regulation
- The Office of Fair Trading publishes updated FAQs on Money Laundering Regulations 2007
- New regulation on credit rating agencies published in Official Journal
- The Treasury Committee identifies serious problems with the European Commission's proposals for reform of financial regulation and supervision
- The Office of Public Sector Information publishes the Banking Act 2009 (Commencement No. 4) Order 2009
- Lord Myners discusses progress of Solvency II directive
Recent FSA speeches and publications
- The FSA publishes speech on most debated mortgage market review proposal
- The FSA sets out new prudential regime for personal investment firms
- The FSA consults on its review of the credit unions sourcebook
- The FSA to simplify system for calculating regulatory fees
- The FSA publishes Policy Statement on the Financial Services Compensation Scheme
Enforcement
- The FSA fines former stockbroker £24,000 for market abuse
- Further arrest made by the FSA in relation to share fraud
- The FSA fines UBS £8 million for failing to prevent employees carrying out unauthorised transactions with customer money
