Finance Matters » FSA http://www.smoothlinking.net/financematters When Finance Matters Thu, 09 Sep 2010 09:07:49 +0000 http://wordpress.org/?v=2.9 en hourly 1 UK Watchdog fines Goldman Sachs £20m http://www.smoothlinking.net/financematters/7187/uk-watchdog-fines-goldman-sachs-20m/ http://www.smoothlinking.net/financematters/7187/uk-watchdog-fines-goldman-sachs-20m/#comments Thu, 09 Sep 2010 07:32:42 +0000 Kay Murchie http://www.financemarkets.co.uk/?p=21527 Investment banking giant Goldman Sachs has been fined £20 million ($31 million) by the UK’s Financial Services Authority (FSA). The fine comes after Goldman failed to inform the FSA it was under investigation for fraud by its US counterpart. The FSA and Goldman Sachs have declined to comment but according to the BBC, the multi-million [...]

]]> http://www.smoothlinking.net/financematters/7187/uk-watchdog-fines-goldman-sachs-20m/feed/ 0 FSA fines Rock’s former finance director http://www.smoothlinking.net/financematters/6456/fsa-fines-rock%e2%80%99s-former-finance-director/ http://www.smoothlinking.net/financematters/6456/fsa-fines-rock%e2%80%99s-former-finance-director/#comments Tue, 27 Jul 2010 12:18:46 +0000 Kay Murchie http://www.financemarkets.co.uk/?p=20716 The Financial Services Authority (FSA) has fined David Jones, Northern Rock’s former finance director, for the misreporting of mortgage arrears at the bank.
The Watchdog has fined Mr Jones £320,000 and banned him from performing any function in relation to any regulated activity.
The fine comes after former deputy chief executive, David Baker, and former credit director, [...]

]]> http://www.smoothlinking.net/financematters/6456/fsa-fines-rock%e2%80%99s-former-finance-director/feed/ 0 Self-cert, interest only and high LTV mortgages defended http://www.smoothlinking.net/financematters/6257/self-cert-interest-only-and-high-ltv-mortgages-defended/ http://www.smoothlinking.net/financematters/6257/self-cert-interest-only-and-high-ltv-mortgages-defended/#comments Thu, 15 Jul 2010 05:56:45 +0000 Gill Montia http://www.financemarkets.co.uk/?p=20426 Proposed new rules on mortgage lending from the Financial Services Authority (FSA) have received broad comment.
The regulator claims that almost half of new mortgages approved between 2007 and the first quarter of 2010 were provided without verification of income.
It therefore wants to impose affordability tests for all mortgages, making lenders ultimately responsible for assessing a [...]

]]> http://www.smoothlinking.net/financematters/6257/self-cert-interest-only-and-high-ltv-mortgages-defended/feed/ 0 Mortgage lenders’ responsibilities redefined http://www.smoothlinking.net/financematters/6231/mortgage-lenders%e2%80%99-responsibilities-redefined/ http://www.smoothlinking.net/financematters/6231/mortgage-lenders%e2%80%99-responsibilities-redefined/#comments Tue, 13 Jul 2010 14:07:27 +0000 Gill Montia http://www.financemarkets.co.uk/?p=20370

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]]> http://www.smoothlinking.net/financematters/6231/mortgage-lenders%e2%80%99-responsibilities-redefined/feed/ 0 New rules for lenders handling mortgage arrears http://www.smoothlinking.net/financematters/5915/new-rules-for-lenders-handling-mortgage-arrears/ http://www.smoothlinking.net/financematters/5915/new-rules-for-lenders-handling-mortgage-arrears/#comments Fri, 25 Jun 2010 12:53:56 +0000 Gill Montia http://www.financemarkets.co.uk/?p=19953 The Financial Services Authority (FSA) has published new rules aimed at protecting vulnerable customers in arrears on their mortgages.
From 30th June, homeowners in arrears must be treated fairly by lenders and the following key areas have been confirmed:
Firms must not apply a monthly arrears charge where an agreement is already in place to repay the [...]

]]> http://www.smoothlinking.net/financematters/5915/new-rules-for-lenders-handling-mortgage-arrears/feed/ 0 Mortgage supply at risk in FSA break up http://www.smoothlinking.net/financematters/5786/mortgage-supply-at-risk-in-fsa-break-up/ http://www.smoothlinking.net/financematters/5786/mortgage-supply-at-risk-in-fsa-break-up/#comments Thu, 17 Jun 2010 08:10:06 +0000 Gill Montia http://www.financemarkets.co.uk/?p=19760 The news that the Financial Services Authority (FSA) is to be broken up could have an impact on the availability of high loan-to-vale mortgages, already scarce in the market.
Chancellor of the Exchequer, George Osborne, has announced that the key role of regulating the UK financial sector is to pass to the Bank of England.
The change [...]

]]> http://www.smoothlinking.net/financematters/5786/mortgage-supply-at-risk-in-fsa-break-up/feed/ 0 Osborne gives BoE new powers and unveils bank tax http://www.smoothlinking.net/financematters/5785/osborne-gives-boe-new-powers-and-unveils-bank-tax/ http://www.smoothlinking.net/financematters/5785/osborne-gives-boe-new-powers-and-unveils-bank-tax/#comments Thu, 17 Jun 2010 06:54:32 +0000 Kay Murchie http://www.financemarkets.co.uk/?p=19755 In his first Mansion House speech last night, Chancellor George Osborne confirmed that the Bank of England will hold the main role in regulating the UK financial sector.
The move was widely expected and comes as City Watchdog, the Financial Services Authority (FSA), will “cease to exist in its current form”, said the Chancellor.
The transition, [...]

]]> http://www.smoothlinking.net/financematters/5785/osborne-gives-boe-new-powers-and-unveils-bank-tax/feed/ 0 Osborne to announce new powers for central bank http://www.smoothlinking.net/financematters/5768/osborne-to-announce-new-powers-for-central-bank/ http://www.smoothlinking.net/financematters/5768/osborne-to-announce-new-powers-for-central-bank/#comments Wed, 16 Jun 2010 08:44:46 +0000 Kay Murchie http://www.financemarkets.co.uk/?p=19722 Chancellor George Osborne is today expected to hand over more responsibility to the Bank of England.
The move comes just a few days after the BBC reported that City Watchdog, the Financial Services Authority (FSA), will be retained – as a subsidiary of the Bank of England.
It was expected that the watchdog would be axed under [...]

]]> http://www.smoothlinking.net/financematters/5768/osborne-to-announce-new-powers-for-central-bank/feed/ 0 FSA to survive despite previous coalition plans to scrap http://www.smoothlinking.net/financematters/5742/fsa-to-survive-despite-previous-coalition-plans-to-scrap/ http://www.smoothlinking.net/financematters/5742/fsa-to-survive-despite-previous-coalition-plans-to-scrap/#comments Mon, 14 Jun 2010 09:45:42 +0000 Kay Murchie http://www.financemarkets.co.uk/?p=19663 The BBC reported over the weekend that City Watchdog, the Financial Services Authority (FSA), will be retained – as a subsidiary of the Bank of England.
It was expected that the watchdog would be axed under initial proposals from the Conservative Party.
However, according to the BBC, Chancellor George Osborne will unveil plans later this week to [...]

]]> http://www.smoothlinking.net/financematters/5742/fsa-to-survive-despite-previous-coalition-plans-to-scrap/feed/ 0 Law firm calls on FSA to explain financial start-up delay http://www.smoothlinking.net/financematters/5628/law-firm-calls-on-fsa-to-explain-financial-start-up-delay/ http://www.smoothlinking.net/financematters/5628/law-firm-calls-on-fsa-to-explain-financial-start-up-delay/#comments Mon, 07 Jun 2010 18:00:13 +0000 Kay Murchie http://www.financemarkets.co.uk/?p=19487 City law firm Reynolds Porter Chamberlain LLP (RPC) is urging the Financial Services Authority (FSA) to explain why financial services firms are having to wait to receive authorisation.
According to RPC, the average number of weeks it takes the FSA to decide whether to authorise a company to provide financial services soared 71% in the last [...]

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