Financial Industry News 19 Jun 2013

The Royal Bank of Scotland (RBS) saw its share price fall after the departure of Stephen Hester. There is speculation that there has been some political interference in the move, which has resulted in RBS shares closing down 3.3 per cent in London, having fallen 7.5 per cent in early trading. David Cameron's official spokesman said... read more

The Financial Conduct Authority (FCA) must do more to protect consumers who have been hit by misleading sales tactics over the past few years, according to two former top policymakers. Reuters reports Hector Sants, who headed the old Financial Services Authority (FSA) until 2012, and Paul Myners, financial services minister during the... read more

Software AG is buying Progress Software’s Apama complex event processing (CEP) platform for an undisclosed sum. The Swiss headquartered firm will takeover the Apama sales and technical teams based around ‘silicon fen’ in Cambridge, UK, and the offices in Bedford, US, and Hyderabad in India, this quarter subject to the usual... read more

Cybercrime and data privacy are cited by UK company risk managers as the most concerning issue facing their business, according to research performed by insurer ACE at the recent annual conference held by Airmic, the UK association for risk and insurance managers. Some 54% of risk managers and brokers participating in the survey ranked cyber... read more

Belinvestbank is the first bank in Belarusia to switch over to an independent payment card transaction risk monitoring system. The bank is installing Tieto's Card Suite Fraud Management solution to manage its own monitoring and risk control services in future, covering the local BelKart card and international payment card schemes run by Visa... read more

Commercial information firm, Dun and Bradstreet (D&B), has launched its D&B Onboard product. The online tool aims to help companies deliver customer due diligence (CDD) requirements efficiently in one place, making it easier for them to start financial transactions and enable businesses, including banks, to bill customers more quickly... read more

UK prime minister David Cameron seemingly played down the chances of selling off the Royal Bank of Scotland (RBS) on Thursday (13 June). Speaking to Bloomberg, Mr Cameron said he believes taxpayers are more interested in getting their money back than seeing the bank returning to the private sector quickly. He said the bank is still... read more

The lack of clarity surrounding the US Federal Reserve's financial stimulus plans continues to cause havoc in markets all over the world. Industry experts have speculated that the North American economic powerhouse could soon wind down its bond buying programme, but official announcements from the state have been thin on the ground. ... read more

The National Audit Office (NAO) has highlighted a number of "stark" financial challenges facing the UK government. In its latest report on financial management in the public sector, the organisation discovered the authorities have strengthened their grip on spending, but further fiscal consolidation could be required in the near... read more

Leader of the taxpayer-backed Royal Bank of Scotland (RBS) Stephen Hester will step down from his role as chief executive, it has been confirmed. Mr Hester has been at the helm since the axing of previous RBS head, Fred 'the Shred' Goodwin, who departed once the 2008 financial crisis hit. Hester's difficult task has been to try... read more