Financial Regulation: 2014-5

In the current atmosphere of international financial insecurity and volatility, new banking and business regulations are being regularly implemented, alongside revisions of old legislation. In order to comply with new financial rules, businesses have to know and understand these regulations to ensure that they remain inside all legal parameters – if not, they run the risk of a substantial fine or an even more serious penalty.

With the FSA now dissolved and financial regulatory powers being split between the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), it is now more vital than ever to ensure full compliance with such regulations, and to stay on top of the international rules that could affect you and your business. In this article, we take a brief look at the upcoming financial regulations currently being implemented.


Alternative Investment Fund Managers Directive (AIFMD)

Starts from: 22/07/2014

AIFMD will regulate hedge funds, private equity and other alternative investment firms in order to monitor their activity. Alternative Investment Fund Managers (AIFMs) will have to apply with their home competent authority by 22nd July 2014 in order to comply with this directive (some firms are exempt, so to check if the AIFMD applies to you, visit the European Commission website).

Financial Transaction Tax (FTT)

Started from: 01/01/2014

The FTT will be implemented by some EU member states in 2014 in order to make sure that the financial sector makes a fair tax contribution. The regulation will affect any transactions on financial instruments made between financial institutions, where at least one of the parties is based in the European Union.

Market Abuse Directive (MAD II)

Expected to start from: 01/07/2014

MAD I was introduced in 2005 to regulate market abuse and ensure there was a proper flow of information into the market. The idea was to increase confidence in the integrated European market and to introduce criminal sanctions for insider dealing/market manipulation. MAD II will widen the scope of the original regulation to include financial instruments traded on MTFs, OTFs and OTC.


Expected to start from: 01/01/2015

Intended to make the financial sector more transparent, the MiFIR implements further review and regulation. Among the many proposed changes will be the introduction of an obligatory filing, reporting all transactions. UnaVista,  a platform developed by London Stock Exchange Group, is an Approved Reporting Mechanism (ARM) under MiFID and this service will also allow firms to be compliant with the upcoming changes under MiFIR. (

UCITS V Directive

Expected to start from: 01/01/2015

UCITS V is the latest version of the original UCITS regulation that was introduced in 1985. The UCITS directive aims to protect retail investors and covers three areas: depositaries, UCITS management company remuneration policies and sanctions for breaches of UCITS law.The directive will affect any stakeholder in a European UCITS fund, including asset managers and depositaries, with the ultimate aim of benefitting the end investor.

A Few Tips for First Time Credit Card Owners


First Time Credit Card Owners
First Time Credit Card Owners

There’s something very charming and alluring about one’s first ever credit card. The feeling of excitement at receiving and beholding a credit card is one that’s unique in life and most people won’t wait long to start using it. Credit cards are the kings of convenience, however they are also double-edged swords, which can hurt you more than they benefit you if misused. Here are a few principles that must be adhered to for a credit card to be beneficial.

Aim to Pay Balance Offs Monthly

The key to not amassing unmanageable levels of credit card debt is through striving to make sure that balances are paid back monthly. Aiming to pay balance offs monthly is a great way of keeping one step ahead and avoiding the need to pay a massive sum when your payment date is due.

Never Miss a Due Date

Speaking of your payment dates, these must by all means be adhered to. You should always pay the minimum amount – at the very least – by the due date. Failing to do so will incur penalty charges and compromise your credit score, which will make future borrowing more difficult.

If you find it too difficult to pay the minimum amounts on due dates, then it is possible that you’re amassing too much from your credit cards on a monthly basis. Using up more of your credit card then you can handle is a major warning sign that you need to slow down on spending.

Set Up a Direct Debit

A good way to help ensure you never miss due payments is setting up a direct debit. By setting up a direct debit you will be making payments automatic, which will go a long way to preventing slip ups from occurring.

Don’t Carry It Around Everywhere

If you are a bit of a spendaholic it might be a wise idea to refrain from carrying your credit card around with you everywhere you go, as this will inevitably only lead to overspending and accumulating more debt than you can handle.

Simply leave it at home and avoid the temptation to use it in needless situations.

Maximize Your Income

The best way to avoid credit card debt is simple: maximize your income to make sure you can afford your lifestyle and have the resources to pay back what you need to.

Living within your means is obviously the secret to keeping on top of your credit card and it is obviously easier to live within your means the higher your income is.

Maximizing your income means improving earnings to the best of your skills and ability, while also ensuring other avenues within your life are generating the full amount of money they should be. If you’re a business owner for example, explore whether or not you’re owed money in the form of tax refunds through the help of firms such as RIFT.

The more money you have coming into your life, the more able you will be to afford credit card repayments.

Guide to the best car insurance companies

Best Car Insurance
Best Car Insurance

Choosing the right car insurance companies for your vehicle is an absolute must in these times. It can save you lot of money during an accident or theft. It can be very crucial when you get involved in an accident. The medical expenses and damage to property that is followed after an accident can leave you financially exhausted. To avoid this situation, it is essential that you pick up the right insurance company for your car. It should offer you complete protection during any casuality and also have low premium amount.

How to reduce premium cost

You can save a lot of money on the premium amount if you choose the right insurance product.The reputed car insurance companies in the market will offer you with a variety of products to choose from. However, not every product will be suitable for your requirement and you should take the policy after understanding the features properly.You should take into consideration, the value of your car and its age before choosing the insurance product. If your car is too old, you can leave out some of the features covered in the insurance policy or reduce the coverage for the vehicle. It is also better to install all the required safety equipment in your car to reduce the premium amount. Apart from reducing premium amount, you will also be protected with those equipment. There will be less damage in case of an accident. In many cases, it can turn out to be a life saver.

If you are wondering how to choose the best among the car insurance companies, you should follow these simple guidelines which will help you to pick up the best among the lot. Do not hesitate to speak to many insurance agents before finalising your product. The insurance company will have many agents to cater to the needs of customers and these agents will be able to explain the features of the product in detail and help you choose the best one suited for you. You can also search the internet for various sources to find out the most popular companies in your region.

What insurance companies expect from you

There is a lot of competition in the insurance market and there are many players out there. The bigger car insurance companies have their branches spread across the country and will be able to serve you in any region. They will have enough manpower to handle your queries and issues during an emergency. However there are a few things you should note while dealing with insurance companies. They would expect you to furnish all the details regarding your existing insurance and your proper drivers license number. This will enable them to give you the proper insurance quotes. They will also verify the details that you have provided and crosscheck them before granting you the policy. If it is found that the details provided are not correct, the car insurance companies can reject your policy. These simple guidelines will help you get the best insurance policy for your car.

Financial Advice – Coping After an Accident

Financial Adviser
Coping after Accident

If you’ve had the bad luck to suffer an accident which resulted in injury then your first thought will be to concentrate on getting fit and well again. If the accident was your own fault – if you behaved in a reckless manner at work, drove carelessly or walked out in front of a car without looking, then the only viable option is to pick yourself up and resolve not to make the same mistake again in the future. If the accident in question was caused by the negligence of another party, however, then you may well be in a position to make a claim for compensation against this party.

As stated, in the immediate aftermath of the accident, launching a legal case may well be the last thing on your mind. You’ll be concentrating on assessing how badly you’ve been hurt, working out how long it is going to take you to get back on your feet again and wondering what the long term ramifications, if any, are going to be.  Added to these concerns is the fact that making a compensation claim has, in recent years, gained something of a bad reputation. All too often it’s seen as being an attempt to simply ‘cash in’ and get some easy money by exaggerating the extent of your injuries. Tabloid newspaper headlines screaming about the ‘Compensation Culture’ only add to this impression, and it has to be admitted that a handful of disreputable companies have probably made things worse by encouraging claims which are somewhat less than legitimate.

Leave all of this aside, however, and working on the assumption that you have been genuinely injured in an accident which wasn’t your fault, and it becomes a matter of simple justice and fair play. The accident in question may have been a car accident caused by the carelessness of another driver or a poorly maintained road surface. It may have been a slip on a wet floor which should have featured a warning sign or perhaps you were injured at work because your employer failed to provide adequate safety measures. Similarly, the injuries in question might be a sprain, some bruising, whiplash or serious problems up to and including paralysis. No matter what the precise details, from the instance the accident takes place your life is turned upside down and one of the key areas adversely affected will be your finances and those of your family.

Money may be the last thing on your mind as you lie recovering on a hospital bed or attend clinics and surgeries for treatments, but being injured is an expensive business. You’ve already suffered in physical and psychological terms due to the negligence of another, so it’s simply unfair that you should then go on to suffer financially as well. Almost any injury brings a whole raft of expenses in its wake. To begin with, you may have to pay for medication of medical treatment, or specialised equipment such as crutches or a wheel chair. Any travel expenses resulting directly from your injury should be met on your behalf, as should the cost of any modifications which need to be made to your home.

In many cases, however, the most expensive factor when it comes to the ramifications of an injury consists of lost wages. Every day you can’t work is a day’s pay lost to you, and in the case of more severe injuries your earning power in the future may be curtailed in line with your physical capabilities. If you launch a claim for compensation and manage to prove that you were injured, and that it was the fault of someone else, then any money you receive will be calculated in two units. The first of these will be an amount based upon the type and severity of your injury using a set formula. The second will be an amount intended to replace any money you’ve had to pay out immediately, as well as compensating for anything you can expect to lose in the future, such as lost or reduced wages.

Launching a claim of this kind, particularly when the other party is a large organisation such as a business, Council or the NHS, can seem like a frightening and daunting prospect, which is why it’s best to seek the aid of an experienced team or personal injury lawyers. If you want to be put in contact with a solicitor to know more about the claims process, pay a visit to claims 4 free They will know whether your claim is reasonable and precisely what it is you should be claiming for. Not only that, but they’ll advise you to keep records such as receipts, wage slips and travel expenses. The vast bulk of cases of this kind can be fought on a no win no fee basis which may sound too good to be true, but which is actually a system which opens redress through the law up to anybody, irrespective of their financial circumstances. Put simply, you don’t have to pay anything up front to launch your claim and, if you win, you’ll be allowed to keep everything that you’re awarded, with your fees and costs being covered by the other party. If, on the other hand, you should be unfortunate enough to lose your claim, then insurance will cover any fees and expenses claimed by the other side.  This means that your only concern when deciding whether to launch a case is the legitimacy of your claim, and it also means that the injury lawyers in question are only likely to take on those cases which they feel have an excellent chance of winning.

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