Mark Carney has stepped into the row about bankers’ bonuses with a demand that a large chunk of the pay packages for senior staff should be deferred “for a very long time”. . .

http://www.theguardian.com/business/2014/feb/16/mark-carney-bankers-bonuses-deferred

The annuities market is not working well for consumers, a review by the Financial Conduct Authority (FCA) has found. The FCA will now use its new remit to launch a Competition Market Study to get to the heart of the issue and make recommendations that will have wider implications as to how the market operates. . .

http://www.fca.org.uk/news/fca-finds-annuity-market-not-working-for-consumers-competition-market-study-launched

Benjamin Wilson of Bournemouth, Dorset was sentenced to seven years at Southwark Crown Court today for defrauding investors of over £21m, following previous guilty pleas for fraud, forgery and operating a collective investment scheme without authorisation. . .

http://www.fca.org.uk/news/fraudster-benjamin-wilson-sentenced-to-seven-years-imprisonment

Deutsche Bank AG has capped cash bonus payouts for its bankers at 300,000 euros ($405,300) for a second year, people familiar with the bank said on Wednesday. . .

http://www.reuters.com/article/2014/02/05/deutschebank-pay-idUSL5N0LA2TY20140205

Bank of America Corp., the second-largest U.S. lender, cut the bonus pool for interest-rate traders by 15 percent to 20 percent as revenue fell, said two people with direct knowledge of the matter. . .

http://www.bloomberg.com/news/2014-02-03/bofa-bonuses-for-rates-traders-said-to-shrink-at-least-15-1-.html

The Bank of England has been dragged into the mounting controversy over allegations of price fixing in the £3tn-a-day foreign exchange markets after it emerged that a group of traders had told the Bank they were exchanging information about their clients’ position. . .

http://www.theguardian.com/business/2014/feb/07/bank-england-forex-price-fixing

The probe into possible insider trading continues with U.S. authorities looking at a number of hedge funds, including at least one individual at SAC Capital, a source familiar with the matter tells CNBC. . .

http://hereisthecity.com/en-gb/2014/02/08/sac-still-on-hook-in-insider-trading-probe-source/

​The Bank of England has today published the findings of the Waking Shark II exercise, which tested the wholesale banking sector’s response to a sustained  and intensive cyber-attack.  The exercise supports the recommendation by the  Financial Policy Committee to improve and test resilience against  cyber-attacks.  The report shows that considerable progress has been made since  the previous exercises in 2011 and highlights areas which could be further  improved. . .

http://www.bankofengland.co.uk/publications/Pages/news/2014/030.aspx

Over £165 billion of assets invested in pensions and other large funds are transferred between investment managers, markets and products every year – potentially affecting the returns enjoyed by millions of consumers on their investments – by 13 specialist transition management (TM) providers. Following the Financial Conduct Authority’s (FCA) first review of the sector, firms have today been advised to ensure that their controls, oversight and governance arrangements meet our requirements in all areas. . .

http://www.fca.org.uk/news/transition-management-findings

An emergency measure that was credited with stabilising the euro has been referred to Europe’s top court. . .

http://www.bbc.co.uk/news/business-26080410#