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Audit & Governance Weekly Financial News Roundup 29th February

New email went out to subscribers today:

This week… 
QUESTIONS FOR FRAUD INVESTIGATORS AFTER BARCLAYS TRIO ACQUITTED
The Serious Fraud Office faces renewed questions over how it handles complex cases after a jury acquitted three former Barclays executives accused of sending secret fees to Qatar… read more

DANSKE BANK EX-CEO FACES $387M LAWSUIT OVER MONEY LAUNDERING SCANDAL
The ousted chief executive of Danske Bank A/S, Thomas Borgen, has been personally targeted in an investor lawsuit arguing he withheld information about potential money laundering… read more

CITY WATCHDOG TELLS ASSET MANAGERS TO STOP USING LIBOR-LINKED PRODUCTS
Regulators have been increasing the pressure on banks and financial services providers to transition to alternative risk-free rates…               read more

BASEL TELLS BANKS TO PREPARE FOR CORONAVIRUS “SHOCKS”
Banks and their regulators should be ready to share information across borders in an effective way as the coronavirus epidemic evolves…. read more

IIA GLOBAL CHIEF CAUTIONS ABOUT EMERGING RISKS
Internal Auditors CEO Richard Chambers to address ‘Decade Ahead for Internal Audit’ Risks are evolving at an unprecedented rate, and it is essential that internal auditors at all levels are well prepared… read more 
CYBER INCIDENTS RANK TOP IN THE ALLIANZ RISK BAROMETER
For the first time ever, Cyber incidents (39% of responses) ranks as the most important business risk globally in the ninth Allianz Risk Barometer 2020, Seven years ago it ranked only 15th with just 6% of responses… read more


Special announcement: IR35 update

New email went out to subscribers today:

The UK IR35 ‘Off payment’ rule deadline of April 6th is fast approaching, with this and the increased press coverage in mind, we wanted to highlight what’s been happening this week with these important changes for the UK job market…

There’s been confusion over applying the new measures and many companies to avoid risk entirely (including Barclays, Deutsche, GSK, HSBC, IBM, Lloyds, and RBS) have said they are no longer employing off-payroll workers.

The House of Lords committee has called on those individuals affected to submit evidence to the inquiry by February 25. If you are a contractor, follow this link to submit your evidence to UK parliament!!

For readers thoroughly confused or in need of further information re. IR35, Dave Chaplin, CEO, ContractorCalculator is a great start, otherwise, feel free to contact us with questions.

This news service is brought to you by Fleet Search and Selection – international specialists in Financial Services Internal Audit Recruitment.



Audit & Governance Weekly – 14th February 2020 – Fleet Search

New email went out to subscribers today:

Please find your weekly financial services news roundup specifically tailored for Internal Audit, Risk, Regulatory and Governance professionals.

This news service is brought to you by Fleet Search and Selection – international specialists in Financial Services Internal Audit Recruitment.

Enjoy!

Craig and Paul

This week… 

US – CECL ACCOUNTING RULE CRITICIZED
New Credit-Loss standard could benefit lenders if regulators loosen capital requirements, study says
 read more

 

FCA SETS OUT KEY RISKS FOR CREDIT BROKERS
The FCA publishes its views (see pdf) on key risks credit brokers could pose to their consumers or markets…. read more

 

$850 MILLION COMPENSATION  – AUSTRALIA  BANK AND REGULATOR OVERHAUL
Banking royal commission calls for compensation, crackdowns and an overhaul of financial regulators… read more

 

BANK OF ENGLAND CAUTIONS EU OVER CROSS-BORDER FINANCIAL FIRMS
Bank of England Deputy Governor Jon Cunliffe cautions EU of management of major financial firms post Brexit... read more

 

GERMAN ONLINE BANK TO LEAVE UK POST BREXIT
German online bank N26 has become the first European lender to quit Britain… read more 

 

UK OPTIMISTIC FOR CONTINUED DERIVATIVES TRADING
UK hopeful of EU’s permission to continue to process derivatives for EU customers…read more

 

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Internal Audit and Governance Roundup

New email went out to subscribers today:

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Brexit and the City

As central Banks moot their new cryptocurrency, Brexit grinds ahead, with JP Morgan announcing preparations to move their trading arm from London to Paris whilst European companies are buying up a foothold in the city for post-Brexit business.
Enjoy our weekly roundup for; Internal Auditors, Risk Managers, and Compliance Officers. We would love to hear your feedback and suggestions for content, keep in touch.

Regards
Craig and Paul

This week…
PARIS MATCH FOR JP SALES AND TRADING ARM
JPMorgan says ‘oui’ to Paris expansion post-Brexit, acquiring new premises to move it’s sales and trading arm out of London … read more
GRAND NUMBER OF FS FIRMS HEAD FOR BLIGHTY

More than a thousand banks, asset managers, and insurers in the EU plan to open offices in UK to service post-Brexit Britain … read more

URSULA VON DER LEYDEN ADVISES LSE IT’S ALL CHANGE FOR BANKING POST-BREXIT 

All change in banking post Brexit says EC PResident… read more

CRYPTO- CURRENCIES THE FUTURE OF BANKING
The Bank of England has teamed up with global central banks to pool knowledge about building  digital currencies … read more
FCA BLINDSIDED BY FUND SUSPENSIONS

The Financial Conduct Authority failed to keep track of investment fund suspensions, questions raised over it’s effectiveness to protect investors …. read more

INCREASING NUMBER OF FIRMS CAUSING CONSUMER HARM
The City-watchdog set to embark on fresh crackdown on advisers after finding actions of increasing number of firms causing consumer harm…. read more
 

 

About Us

Craig Phipps

Craig has spent over 20 years recruiting for Business and Technology Audit for Investment Banks and Asset Managers.  He has also recruited extensively in Market Risk and Quantitative finance.  Prior to establishing Fleet Search and Selection, he headed up the Investment Banking Audit and IT Audit Divisions at two prominent recruitment companies.

Craig has helped 100’s of candidates make difficult career choices. When not at work, his strategic mindset turns to his passions for skiing and rugby and is a huge supporter of Australia’s national rugby team.

Contact: 
[email protected]

Paul Stanbridge

Before establishing Fleet Search and Selection with Craig Phipps, Paul worked as an Equity Research Analyst in London. Now, a recruitment consultant for almost two decades, he has recruited many senior roles, including Global Heads of Audit and C-Suite executives. His wide network spans Insurance, Asset Management and Banking, with expertise including Audit, Compliance and Advisory.

As with his day job, Paul likes getting people excited about things. He is a passionate competitive foil fencer with 5 caps for Scotland and now enjoys coaching others to enjoy the sport too.

Contact:
[email protected]  



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