Company News: Financial Market News



2014 firm bonus announcement / pay out dates

Hereisthecity.com have listed their estimates of when 2014 bonuses are likely to be announced and then paid.

http://hereisthecity.com/en-gb/2006/11/08/top_firm_bonus_annou/

Company News: Financial Market News



EBA consults on criteria for determining the minimum requirement for own funds and eligible liabilities (MREL)

The European Banking Authority (EBA) launched today a public consultation on draft Regulatory Technical Standards (RTS) further specifying the criteria to set the minimum requirement for own funds and eligible liabilities (MREL) laid down in the Bank Recovery and Resolution Directive (BRRD). The aim of these standards is to achieve an appropriate degree of convergence in how these criteria are interpreted and applied across the EU to ensure a level playing field. Institutions with similar risk profiles, resolvability and other characteristics in any Member State should have similar levels of MREL. The consultation runs until 27 February 2015.

http://www.eba.europa.eu/-/eba-consults-on-criteria-for-determining-the-minimum-requirement-for-own-funds-and-eligible-liabilities-mrel-

Company News: Financial Market News



Tackling the UK’s ‘diversity deficit’ in the boardroom

“When I was growing up my career adviser gave me two options – a nurse and a teacher,” says 43-year-old Karen Blackett.

Ms Blackett, who is now the UK chief executive of global media agency MediaCom, last month became the first businesswoman to top the Powerlist 100, which champions the most influential black people in Britain.

http://www.bbc.co.uk/news/business-30228070

Company News: Financial Market News



Internal auditors must up game over new anti-corruption rules

Jeremy Wright QC MP told the Cambridge International Symposium on Economic Crime that the government will shortly publish the first national anti-corruption plan; reflecting growing concern in Westminster that numerous scandals, particularly in banking, have resulted in no individual or company being punished. . .

http://www.accountancyage.com/aa/feature/2382547/internal-auditors-must-up-game-over-new-anti-corruption-rules

Company News: Financial Market News



HSBC Swiss private banking arm faces tax investigation

French magistrates examining whether the bank helped wealthy clients avoid a new tax, the European Union Savings Directive . . .

http://www.theguardian.com/business/2014/nov/21/hsbc-switzerland-private-bank-tax-french-investigation

 

Company News: Financial Market News



Credit Suisse Judge Accepts $2.6 Billion Tax Plea Deal

Credit Suisse AG’s $2.6 billion plea bargain resolving allegations it helped wealthy Americans avoid paying taxes was accepted by a federal judge, ending a three-year probe that helped upend Swiss bank secrecy. . .

http://www.bloomberg.com/news/2014-11-21/credit-suisse-judge-accepts-2-6-billion-tax-plea-deal.html

Company News: Financial Market News



After plea deal, Credit Suisse faces U.S. hearing on pension business

Credit Suisse AG will face a public hearing over whether or not the U.S. government should allow the Swiss bank to manage Americans’ retirement funds after its decision to plead guilty to tax crimes.
http://uk.reuters.com/article/2014/11/14/uk-credit-suisse-plea-pensions-idUKKCN0IY28020141114

Company News: Financial Market News



UBS looking to take back bonuses from forex traders

UBS AG, among the six banks fined this week for their role in the global foreign exchange scandal, is looking at clawing back bonuses from its traders…

http://www.reuters.com/article/2014/11/14/banksforex-settlement-ubs-idUSL3N0T47Z420141114

Company News: Financial Market News



BIS Working Paper 471: The leverage ratio over the cycle

This paper analyses how the Basel III leverage ratio (Tier 1 capital/exposure) behaves over the cycle. The analysis proposes a setup to test for the cyclical properties of bank capital ratios, taking into account structural shifts in banks’ behaviour during the global financial crisis and its aftermath. http://www.bis.org/publ/work471.htm

Company News: Financial Market News



Japan’s economy makes surprise fall into recession

Japan’s economy unexpectedly shrank for the second consecutive quarter, leaving the world’s third largest economy in technical recession. . .

http://www.bbc.co.uk/news/business-30077122