01/22/2024
How EU’s latest AML laws impact HNWIs and property ownership
Renowned for their substantial wealth, these individuals now find themselves under intensified scrutiny.
Legal, Regulation & Compliance
01/22/2024
FCA manager loses legal battle to work from home
Elizabeth Wilson, a £140,000-a-year senior manager, loses her appeal to work from home on a full-time basis at a Croydon employment tribunal.
01/19/2024
Regulated firms failing to adopt open banking or verify source of funds manually
These concerning figures are from a 2023 SmartSearch survey of 501 compliance decision-makers across regulated firms in accountancy, property, finance and legal services.
01/19/2024
Addleshaw Goddard: Financial Services & Banking News
The Government has also published explanatory notes accompanying the Bill.
01/19/2024
Chancellor in Davos to champion British excellence in tech
Jeremy Hunt champions British science and tech in first visit to the World Economic Forum’s Annual Meeting in Davos, Switzerland from a UK Chancellor since 2019
01/18/2024
BSPS payments hit £73mn as another advice firm defaults
The FSCS has so far paid £73mn in compensation to BSPS clients, against total losses of more than £106mn.
01/16/2024
Bank of England may crack down on funded reinsurance
Higher interest rates in Britain have made it cheaper for corporate pension schemes to buy insurance, enabling companies to move pension risk off their balance sheets.
01/16/2024
Enforcement Factsheet: A Compilation of Regulatory Actions – 2021/2022
Case studies are also included, providing subject persons with practical examples which should help in their day to day operations in combatting ML/FT.
01/15/2024
Banks remain robust but higher interest rates could impact their asset quality, the EBA finds
Banks expect the asset quality to deteriorate as higher interest rates affect borrowers.
01/15/2024
FCA to undertake work in the motor finance market
There have been a high number of complaints from customers to motor finance firms claiming compensation for commission arrangements prior to the ban.
01/15/2024
ESMA explores risk exposures to real estate in EU securities markets and investment funds
In the study, ESMA provides details of the evolution of this sector over the past five years.
01/15/2024
Six arrested over planned London Stock Exchange disruption
Six pro-Palestinian activists were arrested on Sunday
01/12/2024
UK Treasury plans reforms to manage small bank failures after SVB collapse
Enhancements to resolution regime
01/12/2024
CISI approves GSB Capital Limited as first ever international firm to achieve CISI Chartered FirmTM status
Achieving CISI Chartered FirmTM allows consumers to identify these firms as adhering to the highest standards of professionalism, thus enhancing trust and confidence.
01/12/2024
Spanish watchdog investigates Deutsche Bank over client advice
Spain's CNMV market supervisor said its move was based on facts that had also been determined by internal investigations carried out by Deutsche Bank.
01/12/2024
Hartley Pensions will run out of money by end of month
The administrators have also obtained an offer of funding for £2mn from a third party and a contract has been agreed but not yet signed.
01/11/2024
FSCS declares County Durham-based British Steel firm in default
D&G Financial Services is no longer trading
01/11/2024
UK pension firms issued dispute resolution guidance following Court of Appeal decision
The Court of Appeal’s judgment means that if an overpayment is disputed by the scheme member, the scheme trustee must apply to the county court to enforce a PO determination upholding the repaying of that overpayment.
01/11/2024
The Pensions Regulator staff launch fresh round of strike action over pay
Regulator ‘disappointed’ as PCS union members begin fresh strike today
01/10/2024
ESAs consult on draft implementing technical standards specifying certain tasks
These ITSs and the requirements they set out are designed to enable future users to be able to effectively harness the comprehensive financial and sustainability information centralised on the ESAP.