Gavel

FCA fines five banks GBP1.1 billion for FX failings

The Financial Conduct Authority (FCA) has imposed fines totalling GBP1.1 billion (USD1.7 billion) on five banks for failing to control business practices in their G10 spot foreign exchange (FX) trading operations. »


Asia Pacific

AxiomSL appoints Raymond Tse as APAC CFO and COO

Regulatory reporting and risk management solutions provider AxiomSL has appointed Raymond Tse as APAC chief financial officer and chief operating officer. »


Handshake

EFG International appoints chief executive for Luxembourg

EFG International’s business in Luxembourg has appointed Konstantinos Karoumpis as chief executive officer, with effect from mid-January. »


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Markit | Genpact KYC Services registers more than 600 firms

More than 600 buyside firms and corporations are registered for Markit | Genpact KYC Services centralised service to streamline the management of know your customer (KYC) information required by banks. »


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Highland hires MD to support business development and structured products teams

Highland Capital Management has appointed Felicia Smith as managing director. »


Numbers and magnifying glass

Increased regulations and immature processes top concerns in management of client and legal entity data

Increased regulatory requirements and related penalties, along with immature and fragmented data management processes are ranked as top concerns for financial firms in the management of client and legal entity data. »


Fiona Le Poidevin, chief executive of Guernsey Finance

London masterclass to focus on Guernsey’s funds offering

A technical showcase of Guernsey’s funds offering and how the island is positioning itself amid the latest regulatory pressures will be the focus of a funds masterclass in London at the start of next year. »


Three fingers

Nikko Asset Management adds three seasoned executives to team

Nikko Asset Management has appointed three seasoned executives to lead, respectively, client development in the Middle East, Africa and Asia, consultant relations on a global basis and sales in North Asia. »


European flags

European-biased AMs worst hit in a deflation scenario, says Fitch

Deflation in the eurozone would be negative for the European asset management (AM) industry, as asset prices declines across multiple sectors would lead to poor fund performance and investor outflows, according to Fitch Ratings. »


Two people shaking hands by a window

Yuanta Securities go live on Calastone network

Taiwanese distributor, Yuanta Securities has become the first securities firm in Taiwan to adopt automation by going live on the Calastone global transaction network. »


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