07/20/2022
Half a million consumers paying less credit card interest following FCA intervention
Over the period, the FCA changed insurance rules to stop firms overcharging loyal customers.
Legal, Regulation & Compliance
07/20/2022
The FCA welcomes the Secondary Capital Raising Review Report
They provide a valuable and timely contribution to the ongoing market reform agenda and complement the FCA’s ongoing Primary Markets Effectiveness Review.
07/20/2022
Scam warnings on DB transfers at all-time high
Transfer values also continued their sharp fall during June and XPS said increases in long-term gilt yields contributed to a month-end average of £203,000, the lowest value seen since November 2014.
07/20/2022
PIMFA Updates Future of Supervision Paper and Calls for More Improvements fron the Financial Conduct Authority
That in turn has evolved into a sour debate about the increased cost of the FSCS levy to well run firms, who are ultimately left to compensate customers of failed financial institutions.
07/19/2022
UK drops guarantees from £400m of Greensill loans to Gupta-linked firms
State-owned British Business Bank makes decision after investigation of lending practices
07/19/2022
Addleshaw Goddard: Financial Services & Banking News
The Act sets out the conditions under which nuclear and natural gas energy activities can be included in the list of economic activities covered by the EU Taxonomy Regulation ((EU) 2020/852).
07/19/2022
Two advisers jailed over £20m pension fraud
The duo set up a sophisticated plan to persuade pension savers to transfer their pensions, which were then used for their own personal gains.
07/19/2022
Dutch Central Bank fines Binance EUR3.3m
The fine was increased from a basic amount of EUR2 million because Binance has a "very large number of customers" in the Netherlands and the violations took place over a long period of time.
07/19/2022
FCA sees employee numbers fall slightly as it bolsters staff support
The City watchdog delivered 2,960 virtual classroom training days over the year with 38 per cent of colleagues attending at least one of these formal training events.
07/19/2022
New Vatican Policy Orders Foreign Investment Accounts Closed
The Secretariat of State, the Vatican's most important department that oversees diplomacy and all other departments, was already stripped of control over its funds in 2020.
07/19/2022
‘Unscrupulous’ online broker shut down for misleading investors
But when investors tried to withdraw their funds, they were either charged a “substantial fee” or their investments significantly reduced in value, the Insolvency Service said.
07/19/2022
Dutch central bank fines Binance 3.3M euro for operating without registration
The registration application is currently under review.
07/19/2022
Linklaters named a finalist in 2022 UK Social Mobility Awards
Linklaters is committed to leveraging its expertise and resources to delivering positive social impact.
07/19/2022
Credit Suisse says Greensill recovery will cost clients $291mn
Swiss bank is braced for five years of court battles and disputed insurance claims
07/18/2022
Chancellor reaffirms the UK’s unwavering support for Ukraine at first G20 meeting
Chancellor of the Exchequer Nadhim Zahawi virtually attended the G20 Finance Ministers and Central Bank Governors under the Indonesian Presidency.
07/18/2022
EIB Group and RLB Steiermark join forces to provide additional lending to small and medium enterprises and mid-caps
The portfolio is set to be equal to four times the EIB's guarantee amount.
07/18/2022
Will the ECB unveil its new ‘anti-fragmentation’ tool?
Market Questions is the FT’s guide to the week ahead
07/18/2022
Bank of England battle looms over deregulation plan set to prime City for ‘Big Bang 2.0’
Sunak and Zahawi back bill ditching EU rules and allowing ministers to question regulatory decisions
07/18/2022
Some reflections on Monetary Policy past, present and future − speech by Michael Saunders
Given at the Resolution Foundation
07/18/2022
EU wants to put a big stop to Swiss banks
The European market is of central importance for Swiss banks, especially since tax disputes with various countries have been settled in recent years.