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Banking and Capital Markets Insight – May 2013

Banking and Capital Markets Insight - May 13


Welcome to the May edition of Banking and Capital Markets Insight, which focuses on technical issues currently coming out of the banking, capital markets, securities and fund management arenas.

Key findings

Our articles cover the following diverse areas:

  • Kush Patel on the parallel efforts by the International Accounting Standards Board and the U.S. Financial Accounting Standards Board to put in place an expected loss impairment model for loan assets;
  • Clifford Smout and Mike Williams on the wholesale conduct risk agenda of the Financial Conduct Authority (FCA), following on from the Financial Services Authority’s (FSA) previous pursuit of wholesale conduct issues which it believes have a clear linkage to retail consumer protections, particularly following concerns around LIBOR and other benchmarks;
  • Martin Walker on the potential global reach of the proposed EU-level Financial Transaction Tax (FTT) that applies on both an issuer and a residence basis, including the situation where a non-European financial firm deals with a European counterparty, and where both are drawn into the FTT’s scope;
  • Paul Leech on the practical issues caused by the Financial Reporting Council’s recent guidance to auditors on firms passing the responsibility for Client Money and Asset Sourcebook compliance to external third parties, such as custodians and administrators; and
  • Vicki Rawstorne on the FCA’s intended approach to consumer credit regulation, published by the FSA on 6 March 2013, where firms will need to be re-authorised for their existing consumer credit activities from October 2014, and the FCA will be able to pursue firms under their own rules from 1 April 2014, with some capability to look back at past consumer behaviour by the firm.

If you have any comments or suggestions regarding any aspect of topics discussed in this publication please let us know.


Download Banking and Capital Markets Insight (PDF)

Previous editions

September 2012 (PDF, 158 KB)
June 2012 (PDF, 160 KB)
April 2012 (PDF, 160 KB)
December 2011 (PDF, 152 KB)
September 2011 (PDF, 176 KB)
June 2011 (PDF, 164 KB)
March 2011 (PDF, 185 KB)
January 2011 (PDF, 172 KB)
October 2010 (PDF, 200 KB)
July 2010 (PDF, 170 KB)
May 2010 (PDF, 160 KB)
February 2010 (PDF, 148 KB)
December 2009 (PDF, 168 KB)
September 2009 (PDF, 285 KB)
August 2009 (PDF, 147 KB)
May 2009 (PDF, 147 KB)
March 2009 (PDF, 144 KB)
January 2009 (PDF, 106 KB)
November 2008 (PDF, 74 KB)
September 2008 (PDF, 80 KB)
July 2008 (PDF, 161 KB)
May 2008 (PDF, 79 KB)
March 2008 (PDF, 188 KB)

Related information

Visit our Securities and Banking Update archive page and read our previous publications

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