BAML first in FCA firing line but EMIR problems endemic

The FCA has imposed its first fine for failure to report derivatives trades under the European Markets Infrastructure Regulation (EMIR) — but endemic cultural issues in large banks suggest it won’t be the last.

  • By Nell Mackenzie
  • 23 Oct 2017

The UK watchdog fined Bank of America Merrill Lynch £34.5m for failure to report 68.5m transactions over two years. 

Mark Steward, FCA executive director of enforcement and market oversight, stressed the importance of bank transparency required under current regulations, including EMIR and MiFID. 

“There needs to be a ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 71,795.24 248 8.65%
2 JPMorgan 59,685.75 255 7.19%
3 Bank of America Merrill Lynch 52,401.35 173 6.31%
4 Barclays 50,153.02 148 6.04%
5 Deutsche Bank 44,937.03 167 5.41%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 Deutsche Bank 9,857.42 14 13.05%
2 SG Corporate & Investment Banking 7,833.35 12 10.37%
3 Goldman Sachs 5,773.27 11 7.65%
4 Citi 4,606.54 14 6.10%
5 BNP Paribas 4,132.76 19 5.47%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 Goldman Sachs 2,546.04 12 11.21%
2 JPMorgan 1,732.54 10 7.63%
3 Credit Suisse 1,727.84 7 7.61%
4 Deutsche Bank 1,465.10 11 6.45%
5 Citi 1,285.41 7 5.66%