BNY Mellon clients in the U.K. can use the digital proxy voting service, Proxymity Vote Connect Total (VCT), in time for the 2024 voting season, officials say. The joint effort with Proxymity is intended to “improve transparency, accuracy, and speed for our clients,” says Adam Watson, head of commercial product, custody services at BNY Mellon,… Read More >>
FCA Fines Citi Brokerage $15M for Surveillance Woes
A U.K. regulator, the Financial Conduct Authority (FCA), has imposed a fine of $14.8 million (£12,553,800) upon Citigroup’s international broker-dealer subsidiary for breaches of the Market Abuse Regulation (MAR), a law that requires firms to monitor orders and trades to detect potential market manipulation. The FCA charged the London-based Citigroup Global Markets Ltd. (CGML) with… Read More >>
Big Battles to Follow Breakthrough in Brexit Talks
It has been a rollercoaster couple of weeks for U.K. Prime Minister Theresa May. After six long torturous months of negotiations, there was a breakthrough on the Brexit divorce front last week between May and European Commission President Jean-Claude Juncker and the European Union’s chief Brexit negotiator Michel Barnier. However, the euphoria was short lived…. Read More >>
Financial Support Drying Up for U.K. Fintech Startups
The U.K. financial technology industry received a boost from Chancellor of the Exchequer Phillip Hammond’s plans to inject £400 million ($504 million) into venture capital funds as well as other measures announced in November’s Autumn Budget Statement. While the support is welcomed by industry participants, some say that it does not go far enough to… Read More >>
Brexit Would Breed Chaos for London Firms: Report
With the European Union Referendum just over a month away on June 23, the arguments are flying fast and furious on both sides. For the undecided it is difficult to decipher the rhetoric but there is no doubt that leaving will plunge the country and the region into the world of the unknown and potentially… Read More >>
Brexit Fever Spurs Uncertainty, Dire Predictions
To leave or not to leave the European Union — that is the Brexit question. The United Kingdom is currently gripped by Brexit fever with campaigners on either side warning of dire consequences. The arguments are not new and the same heated debates were heard before when the country mulled joining the euro in the… Read More >>
‘Brexit’ Woes Start to Ripple Through Markets
Britain will be holding a referendum to allow the citizens of the United Kingdom (U.K.) to decide whether or not to stay as part of the European Union (E.U.), an effort that is like to cause many ripples in global financial markets before the definitive vote on June 23. The potential British exit, or Brexit,… Read More >>
Barclays Exec Joins Capco’s UK Team
Business and technology consultancy Capco has appointed Jonathan Rose, a former Barclays executive, as a partner for its UK team. Rose has previously worked as a managing director, chief operating officer (COO) and chief investment officer (CIO) at Barclays bank, according to Capco’s statement. At Barclays, Rose’s managed IT service delivery, transformation, management and strategy… Read More >>
