Hampered by increasingly complex regulations, as well as the cost and inertia of inefficient legacy systems, banks are facing growing competition from innovative non-bank organisations. Unless they start to confront the mission-critical importance of transforming their technology, could they face death by a thousand cuts?
French equity derivatives specialist Horizon Software is concerned about burdensome EU regulation choking liquidity in its core stock options market – but, says Sylvain Thieullent, its chief executive of electronic trading, the firm has learnt the importance of tailoring its approach to suit a local market as a result
The UK regulator has proposed five ‘controlled function holders’ for insurers without including a chief investment officer. But the role is too important to overlook, says Scott Eason of Barnett Waddingham
Industry lobbying prompts regulator to revive plans for a further impact study
Former UBS and Citigroup trader Tom Hayes promised to pay hundreds of thousands to brokers through ‘wash trades’ in exchange for help shifting Libor rates