02/14/2024
Financial Services & Banking News
The LSB intends to publish shortly a timetable setting out how it will take forward and sequence these initiatives.
Legal, Regulation & Compliance
02/14/2024
Aviva to pay client's tax bill after pension error
In an email seen by FT Adviser, the client was told that the “professionals” advising them “should have known” they are not eligible for an early retirement pension on the basis of the available information.
02/14/2024
Regulator to stress test UK life insurers on reinsurance exposures
Insurers are entering into transactions to pass on a slice of their liabilities
02/13/2024
Changes to FCA rules: Navigating Financial Promotions in 2024
Effective from 7th February 2024
02/13/2024
EU seeks to clarify boundaries of cryptoasset regulation
ESMA is consulting on new guidelines which aim to shed light on key questions relating to MiCA’s scope and has also published guidance regarding transitional measures.
02/13/2024
Court of Appeal in England drills down on term ‘incidental’ in tax cases
Relevant assets are defined as moveable structures used for drilling for oil or providing accommodation for offshore workers.
02/13/2024
FCA bans and fines Floris Jakobus Huisamen over London Capital & Finance plc financial promotions
Financial promotions, signed off by Mr Huisamen, presented a misleading picture of the minibonds, making them appear a far more attractive investment than they were.
02/13/2024
Two advice firms fail with the FSCS
The FSCS also confirmed it has received two claims so far against Frodsham Financial Planning Limited relating to home finance and pensions.
02/13/2024
FCA gives lifetime ban to ex-LCF director
Between 2014 and 2019, LCF marketed speculative minibonds to retail investors. Over 11,000 investors lost more than £237m in the minibond scheme.
02/12/2024
ECB publishes consolidated banking data for end-September 2023
The quarterly data provide information required to analyse the EU banking sector and comprise a subset of the information that is available in the year-end dataset.
02/12/2024
GAP insurers agree to suspend sales following FCA concerns over fair value
The regulator will carry out a second tranche of engagement with the rest of the GAP market, with the aim of improving the value of the product across all firms.
02/12/2024
Addleshaw Goddard: Financial Services & Banking News
Currently, EU law requires listed companies to disclose information about social and environmental risks and opportunities.
02/09/2024
Blankstone Sington declared failed by FSCS following administration
The Liverpool DFM entered special administration in October 2023
02/09/2024
Mind the gap(s): Inflation data and prospects - speech by Catherine L. Mann
The latest data for headline inflation surprized to the downside relative to what we had expected in November.
02/09/2024
'Urgent reform' needed to improve performance of UK regulators
Some regulators are being overloaded with objectives, without clear guidance on how they should prioritise between them
02/09/2024
Woodford scheme of arrangement sanctioned by High Court
Appeal process open until 23 February
02/08/2024
Financial Services & Banking News
A steering committee will be launched in Spring 2024 to support and guide the activities of a formal regulator coordination structure within government.
02/08/2024
Auto-enrolment is 'incomplete', says pensions minister
"I like to see them thinking about the future but there is the risk of them slipping into worse poverty."
02/07/2024
EU legislators reach consensus on overseeing ESG ratings providers
Under the proposed regulation, ESG rating providers would fall under the European Securities and Markets Authority
02/07/2024
Former asset manager of Prince Albert of Monaco reveals internal affairs
According to media reports, other people close to the royal family also wanted to use their assets to finance apartments and other purchases.