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Financial Transactions Tax

Bankers Wrestle with Relentless Regulation

It's little surprise that financial-services companies are feeling the heat from the regulatory spotlight in the wake of a global financial crisis caused in part by lax oversight.But a new report reveals just how high up the executive agenda compliance has rocketed and suggests lingering regulatory uncertainty is taking its toll.Almost half of the 400 global clients surveyed by SunGard believe that regulatory change has caused a loss of focus on core businesses due to allocating more staffing, time and resources to compliance over the past two years. Additionally, 34% of the firms surveyed expect lower returns to shareholders as a result of the focus on compliance."Overall, the picture is one of great uncertainty. Regulatory reform is putting the financial services industry under intense pressure, and the situation will not change in the near future," the SunGard report concludes.It's not just that increased supervision is limiting risky activities. Executives are grappling with the un...

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  2. EU states to get go-ahead for tax on trading

    Germany, France and nine other euro zone countries will get the go-ahead on Tuesday to start work on a financial transactions tax, a measure likely to unsettle banks...

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  4. EU: Legal Conditions in Place for Financial Transactions Tax

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  5. Britain seems to be saying "bye bye" to EU, says Finland

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  6. Surprise: Italy's PM Announces Tax Cut

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  8. Sweden Fin Min Borg: European Commission Proposal Doesn't Take Us Any Further

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  9. Single Eurozone Budget More Popular Than Anticipated

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  10. RPT-Single euro zone budget gains momentum ahead of summit

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  11. Single euro-zone budget gains momentum ahead of summit

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  12. Slovenia Joins EU Movement For Financial Tax

    Slovenia on Friday joined a growing number countries seeking to introduce a tax on financial transactions under a special EU procedure allowing them to go ahead with...

  1. ECB Examines Impact of Financial Transactions Tax

    The European Central Bank is examining the potential impact of Europe's proposed financial transactions tax on money markets, the bank's top economist Peter Praet sa...

  2. Exchanges ring alarm bells over EU transaction tax

    Top exchange officials opposed to a European financial transactions tax intensified their lobbying on Tuesday, warning it would push trading to other parts of the wo...

  3. Luxembourg Minister Says Sympathetic to UK on Transaction Tax

    Luxembourg Finance Minister Luc Frieden said Monday his government is sympathetic to the U.K.'s opposition to a tax on financial transactions in the European Union, ...

  4. U.K. Challenges EU's Proposed Transactions Tax

    The U.K. government has lodged a legal challenge to the financial transactions tax proposed by the European Commission because of concerns that it would hurt those c...

  5. U.K. Contests EU's Proposed Financial -Transactions Tax

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  6. Financial Transactions Tax Would Cost French Companies EUR70 Billion - Report

    A tax on financial transactions may end up costing French companies as much as 70 billion euros ($92 billion), Le Figaro reported Monday, citing business association...

  7. Germany, France Hope for Quick Implementation of Bank Levy

    France and Germany said Tuesday they hoped a new bank levy could be introduced rapidly after 11 European Union countries clinched enough support to start drawing up ...

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