Nordea welcomes the Swedish Financial Supervisory Authority’s (SFSA) approval of the merger plans between Nordea and its subsidiary banks Nordea Bank Danmark, Nordea Bank Finland and Nordea Bank Norge, respectively. This is an important step in our work to simplify our legal structure, with the aim to change the Norwegian, Danish and Finnish banks to branches of the Swedish parent company.  Continue reading…

The Financial Conduct Authority (FCA) has banned Mr Peter Johnson, former compliance officer of Keydata Investment Services Ltd (Keydata), from performing any function in relation to any regulated financial activity and publicly censured him. Were it not for Mr Johnson’s serious financial hardship, the FCA would have fined him £200,000.
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In a case brought by the Financial Conduct Authority (FCA) and following a three-month trial at Southwark Crown Court, two defendants – a senior investment banker and a Chartered Accountant – have been convicted of conspiring to insider deal between November 2006 and March 2010. Three other defendants, Andrew Grant Harrison, Ben Anderson and Iraj Parvizi, have been acquitted.
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Last Friday, the Financial Stability Board (FSB) hosted in Basel, the tenth meeting of the FSB Regional Consultative Group for Europe (RCG Europe) under the co-chairmanship of Anne Le Lorier, First Deputy Governor, Banque de France (see photo) and Jon Nicolaisen, Deputy Governor, Norges Bank. At their meeting, members of the FSB RCG Europe discussed the progress made by two working groups set up by the RCG Europe. One has reported on Nordic experiences of cooperation on cross-border regulation and crisis resolution. The other will start its work on private pension schemes resilience.
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Presentation by Mr Claudio Boro, Head of the Monetary and Economic Department of the BIS, at the Seventh high-level SNB-IMF conference on the international monetary system in Zürich on 10 May 2016. Continue reading…

The decision to produce Airmic’s guide to scenario analysis – and support it with a member-only seminar at the annual conference reflects the growing professionalisation of risk management in general and commercial insurance in particular.

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Today, the Central Bank of Nigeria hosted the ninth meeting of the Financial Stability Board (FSB) Regional Consultative Group (RCG) for Sub-Saharan Africa in Abuja, Nigeria. At the meeting, members of the FSB RCG for Sub-Saharan Africa began by reviewing the FSB’s work plan and 2016 priorities, namely: promoting full, consistent and timely implementation of the international financial reforms; finalising the design of the remaining post-crisis reforms; and addressing new risks and vulnerabilities.  Continue reading…

The Association of Certified Anti-Money Laundering Specialists (ACAMS), announces the appointment of Samantha Sheen as its Director of AML for Europe. Highly regarded as a commercially astute international financial regulatory, crime and risk management expert, Samantha Sheen has developed a strong reputation for excellence at interpreting and applying regulatory strategies, developing robust organisational and procedural policy architecture and implementing global sanctions compliance.

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The Bank for International Settlements (BIS) today released OTC derivatives statistics at end-December 2015.  Global OTC derivatives markets saw a broad-based decline in activity in the second half of 2015. The notional amount of outstanding contracts fell by 11% between end-June 2015 and end-December 2015, from $552 trillion to $493 trillion. Trade compression to eliminate redundant contracts was a key driver.
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