Friday, 25 July 2014
Last updated 7 hours ago
Jul 7 2009 | 2:18am ET
Hedge funds, and others, dabbling in market abuse in Britain could face a much bigger bill, if they get caught.
The British government plans will triple potential fines for market abuse, Chancellor of the Exchequer Alistair Darling said. Under the proposal, the Financial Services Authority and Bank of England could impose fines of as much as 20% of a firm’s revenue in a business area or 40% of an individual’s compensation, including bonuses. The minimum fine would be £100,000 (US$161,000).
The new fines will be unveiled this week by the British Treasury.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…