fsa turner

Lord Turner: “The shadow banking system still is out of our reach”

WASHINGTON | “Show me the factories, then!” Before the audience at the School for International Relations of the John Hopkins University, Adair Turner, or Lord Turner, put in these terms his rebuttal to those who defend that financial innovation betters the real economy, a selected group where we would find the former chief economist at JP Morgan and once FMI’s deputy managing director John Lipsky, who happens to strongly dissent…

1158 London 100

Exchange traded funds, one more known unknown for the markets

letter for boyfriend i want you back LONDON | Who will set the alarm bells off, again? Amid so much scarring noise coming from the euro area, watchdogs may inadvertently pass by seeds of future financial crashes. This time, the hint is that most financial advisers in the City admit to have little or no understanding of the exchange traded funds' structure, but up to 30 percent in the industry keep some 5 percent…

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FSA fines Santander £1.5mn over poor information, clients didn’t lose out

LONDON | The British financial regulator, the Financial Services Authority (FSA), confirmed Monday that Santander UK was fined £1.5 million for failing to clarify under which circumstances its structured products would be covered by the Financial Services Compensation Scheme (FSCS). The Spanish bank acknowledged that it could have replaced all product literature and training materials more quickly to reflect the FSCS position accurately. The fact that it allowed sales to continue with…