04/24/2022
FCA review finds weaknesses in some challenger banks’ financial crime controls
Challenger banks aim to compete with traditional high street banks using smarter technology and more up-to-date IT systems.
Legal, Regulation & Compliance
04/22/2022
UK consumer law enforcement powers to be bolstered
The paper further details forthcoming changes to UK competition and merger control laws and follows a consultation on possible reform last year.
04/22/2022
Central Bank of Ireland makes changes to controlled function roles for financial firms
The CBI has also created another new standalone role, that of head of anti-money laundering and counter terrorist financing compliance (PCF-52). This is in addition to the existing role of head of compliance (PCF-15).
04/22/2022
Cyprus announces expansion of responsibilities of the Financial Sanctions Advisory Committee
The examination of requests in relation to the wrongful freezing of funds at credit institutions.
04/22/2022
Caviar and Diamonds Are Targeted in New U.K. Sanctions on Russia
That takes the total value of Russian goods affected to more than one billion pounds.
04/22/2022
AG opines DAC 6 reporting obligation could violate right to fair trial and privacy
The AG concluded that while the right to a fair trial is not violated, the right to privacy may be in certain specific circumstances.
04/22/2022
General Court decision in Gibraltar State aid case
The General Court partially annulled the State aid decision issued by the Commission, in so far as it relates to individual aid granted to the plaintiff, based on a tax ruling, for the period 2014 onwards.
04/22/2022
Establishing A Regulated Fintech Firm In Ireland
This includes project management, application submission and support, and regulatory advice.
04/22/2022
Registering and managing a trust – do the new rules apply to you?
The new regulations mean that most UK express trusts must now register unless specifically excluded.
04/21/2022
Competition authorities in Europe respond to Ukraine crisis
No formal exemptions from competition law have been introduced by the ECN
04/21/2022
Corrie Bauckham Batts Limited enters liquidation
Corrie Bauckham Batts Limited is an FCA authorised and regulated Lloyd’s wholesale insurance broker.
04/21/2022
Herbert Smith Freehills: Financial Regulation: Daily Update
The rules, set out in Handbook Instrument (FCA 2022/6), will apply to listed companies for financial accounting periods starting from 1 April 2022.
04/21/2022
Schroder UK Public Private wants to look global
Proposed changes to investment policy
04/21/2022
CMA given powers to crack down on fake reviews
The CMA has been given enhanced powers to tackle rip-offs and bad business practices.
04/21/2022
Two company directors punished for bounce back loan fraud
The bounce back loan scheme was created during the pandemic to support businesses during the period.
04/21/2022
Addleshaw Goddard: Financial Services & Banking News
Overall, the report finds that countries have made huge progress in improving technical compliance
04/21/2022
UK and EU competition authorities launch first parallel dawn raids since Brexit
Alongside the dawn raids, the Commission also sent formal requests for information to several companies active in the automotive sector.
04/21/2022
FCA launches bespoke support service for innovative financial services firms
The FCA said the service was for authorised firms
04/21/2022
Carey Olsen supports Nordic Capital exit of Vizrt Group to new Nordic Capital-led consortium
The secondary acquisition vehicles, which form part of the new Nordic Capital-led acquiring consortium, established with investment vehicles managed or advised by Goldman Sachs Asset Management's Vintage funds, Pantheon and Coller Capital as co-leads
04/21/2022
Leveraging Centralised Cloud MiFID II Advisory
One way that this regulatory gap may be breached is to implement a digital advisory platform that is ESG and MiFID 2 compliant, underpinned by a goal-based investment planning and advice execution workflow. This will enable institutions to adopt a consist