The FSA is encouraging senior management at regulated firms to begin preparing for the implementation of the European Union’s Markets in Financial Instruments Directive (MiFID), which is likely to come into force on 1 November 2007. The Directive will have a significant impact on financial services regulation in Europe and how firms operate and interact with customers. The FSA has published ‘Planning for MiFID’, a short guide highlighting key areas, such as conduct of business and systems and controls requirements, which will be affected by the directive and the likely main practical implications for regulated firms. It has also published the ‘International Regulatory Outlook’ which analyses regulatory change that is being driven by European and other international initiatives and its likely effects on UK financial services. According to the FSA, the introduction of MiFID will affect most FSA-regulated firms carrying on investment business, whether or not that business falls within MiFID’s scope.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.