01/28/2022
FCA regulation around high-risk investments to be stiffened
On the ‘consumer journey’ plans, the FCA wants to bolster risk warning requirements and ban inducements to invest in high-risk investments.
Legal, Regulation & Compliance
01/28/2022
Pinsent Masons works on pivotal project to help protect cash services
Under the new model, any community that faces the closure of a core cash service, such as a bank branch or ATM, will have its needs independently assessed by LINK.
01/28/2022
ESMA letter to co-legislators on proposed EU Green Bond Standard
The EU GBS envisages that external reviewers providing services to issuers of EU green bonds must be registered with and supervised by ESMA.
01/28/2022
Van Lanschot Kempen to provide compensation for charging too much variable interest on revolving consumer credit
Its investigations revealed that, in the case of these clients, variable interest rates failed to correctly move in tandem with applicable market rates.
01/28/2022
Professional investors across Europe mistrust central banks over high inflation
While a further 23% are considering allocating to the asset class to lessen the impact of inflation on their portfolios.
01/28/2022
Jupiter reviews fees on Chrysalis trust after managers pocket £60m
The board of the trust previously disclosed that Jupiter had agreed to accept 54 per cent of the fees owed in the form of shares of the trust, a figure of around £60m.
01/28/2022
FCA extends complaints deadline for LCF investors
The City watchdog noted that complaints notified after this would only be accepted if there were exceptional circumstances for the delay.
01/28/2022
FSCS declares two advice firms in default
The FSCS declared the firm in default on January 25, 2022.
01/28/2022
ECB Banking Supervision launches 2022 climate risk stress test
The results will feed into the Supervisory Review and Evaluation Process (SREP) from a qualitative point of view.
01/27/2022
Financial Regulation: Daily Update
The statement requires position holders to report NSPs between 0.1% and 0.2% on the day of application of the 0.1% reporting threshold, even where they were entered into ahead of that date.
01/27/2022
All Flintshire Credit Union enters administration
All Flintshire Credit Union is a financial co-operative owned by its members.
01/27/2022
Transforming data collection
To address these issues, we have developed a joint transformation programme with the Bank of England.
01/27/2022
TPR firms that do not meet our expectations
If a TPR firm doesn’t meet our expectations, find out what actions we may take, depending on the circumstances.
01/26/2022
Carey Olsen tops legal adviser rankings in record year for Guernsey funds
The considerable dominance of Carey Olsen is a credit to our team's expertise and experience and reflects the significant commitment from our clients to domicile their funds in Guernsey.
01/26/2022
FCA’s approach to compromises for regulated firms
The proposed guidance is aimed at firms solely regulated by the FCA including those that are part of a dual regulated group, and firms that are dual regulated by the FCA and PRA from the perspective of conduct regulation.
01/26/2022
FCA publishes guidance consultation for firms who seek to limit their liabilities
The guidance we are consulting on should help firms understand our expectations and ultimately help firms to avoid proposing compromises that are unacceptable to us because they fail to provide the best possible outcome for consumers.'
01/26/2022
Financial Regulation: Daily Update
The FCA notes that it is seeing an increase in the number of compromises to deal with significant liabilities to consumers, in particular redress liabilities.
01/26/2022
Financial Services & Banking News
The technical standards aim to ensure that stakeholders are well-informed about institutions’ ESG exposures, risks, and strategies and can make informed decisions and exercise market discipline.
01/26/2022
UK banks push back over fraud worries in Covid loans
Executives fear being scapegoated after Lord Agnew criticised government officials’ ‘schoolboy errors’ in the scheme
01/26/2022
Financial regulatory family strengthen Wider Implications Framework
It builds on existing collaboration already in place and will give greater transparency for wider stakeholders.