Banks need WhatsApp alternative fast to dodge hefty fines, warns former FCA official September 28, 2022 Banks and brokerages need to roll out new messaging platforms fast to “crack down” on the use of Whatsapp by staff, a former City regulator warned today, after US regulators slapped a group of Wall Street giants with $1.8bn worth of fines.
JPMorgan set to double UK headcount of digital bank Chase September 28, 2022 JPMorgan is planning to double the headcount of its British digital bank Chase in the next two years as it looks to guzzle up market share from the UK’s fintech lenders.
Ex Bank of England deputy governor: Impact of cuts from mini-budget may spell end for NHS September 28, 2022 A former deputy governor of the Bank of England has warned the NHS faces an existential threat as a result of government tax cuts and fiscal plans. Sir Charlie Bean, who is also a member of the Office for Budget Responsibility, said the government has lost confidence of markets and “the thing about credulity is [...]
Citi swoops in for Credit Suisse veteran Jens Welter September 28, 2022 A top executive has quit his job at beleaguered bank Credit Suisse for Citigroup just nine months after being made co-head of global banking. Jens Welter ended his 27-year career with the Swiss bank where he became a top adviser, and will join Citi as the new co-head of European investment banking. He will also [...]
TP Icap under pressure to sell off high-margin Parameta data division September 27, 2022 FTSE 250 finance firm TP Icap is facing pressure from some of its biggest shareholders to break itself up by selling off its high margin data division. Several of the firm’s most important institutional investors have begun talks about pressing TP Icap into exploring a formal sale of its Parameta analytics business, Sky News reported. [...]
Revolut wins full crypto authorisation from City regulator September 27, 2022 Revolut has secured authorisation to provide full crypto services in the UK after months of wrangling with the City regulator as it waited on a temporary register.
Competition does not mean ‘regulatory race to the bottom’, banking watchdog warns September 27, 2022 The UK’s banking watchdog warned it will not engage in a “regulatory race to the bottom” today as Liz Truss and Kwasi Kwarteng prepare to shake up UK financial rules in a bid to boost growth.
Former City minister: Scrapping bonus cap could have waited ‘a little longer’ September 27, 2022 John Glen, the former City minister, has said the decision to scrap the bankers’ bonus cap should have waited amid a cost of living crisis. Glen told the Following the Rules podcast that the removal of the cap, announced last week by new Chancellor Kwasi Kwarteng, “was something that I would have deferred for a [...]
Sterling crash: Plenty of blame to go round but much of it falls on the Bank September 27, 2022 The British economy has been through a lot in recent years but a full-scale currency crisis still wins points for novelty. But for all the sound and fury of yesterday’s market movements and the so-called sterling crash, the panic is overdone. Much of the blame for yesterday’s excitement lies, rightly, with the government. This newspaper [...]
Close Brothers profits tumble 18 per cent amid trading slowdown September 27, 2022 Merchant banking group Close Brothers saw profits shrink by 18 per cent in the year to July as its Winterflood business was hammered by volatile markets and a slowdown in trading activity.
