08/09/2021
Financial Services & Banking News
Given the considerable legal uncertainty surrounding digital assets, the FMLC welcomes the Law Commission’s Digital Assets Project and the prospect of law reform.
Legal, Regulation & Compliance
08/08/2021
CP21/26: A new UK prudential regime for MiFID investment firms
It represents a major change for investment firms. It is critical that firms adequately prepare for the regime.
08/08/2021
Consumer warning on Northern Provident Investments
Customers can find more information about how they may be affected via NPI’s website.
08/08/2021
Russia court hands US investor, French banker suspended sentences
Five Russian associates who said they were innocent also received suspended sentences of between three-and-a-half years and five years.
08/08/2021
Financial Regulation Daily Update
Feedback is requested by 17 September 2021.
08/06/2021
‘Avatar’ Film Funding Firm Backed by David Beckham, Sacha Baron Cohen Wins $975 Million Tax Avoidance Case Against HMRC
Ingenious therefore created film finance partnership schemes – which funded some of the world’s most successful films
08/06/2021
New EU Rules in Force: Pre-Marketing and De-Registration on UCITS and AIFS
Under the CBFD Directive, only certain third parties may engage in pre-marketing on behalf of an authorised EU AIFM
08/06/2021
Macfarlanes advises significant investor in AXA IM’s €1.9bn European Life Sciences Real Estate Fund
The Macfarlanes team consisted of investment management partner Alex Amos, private equity real estate senior counsel Andrew Hughes and senior solicitor Nicole Mitchell.
08/06/2021
French regulator imposes €32m fine on Amundi
The AMF's enforcement committee estimated that two former employees' irregular transactions in 2014 and 2015 resulted in a €48.1m loss.
08/05/2021
Investors in line for £11m windfall as FCA wins Avacade case
The Court of Appeal has upheld previous findings that the activities of unregulated introducers Avacade Limited and Alexandra Associates, and their directors, were unlawful as they had advised on investments, made unapproved financial promotions and made
08/05/2021
Simmons advises on launch of first international Islamic digital bank
Simmons & Simmons has advised on the creation of Nomo, the world’s first international Islamic digital bank.
08/05/2021
Alternative dispute resolution in English litigation - a step closer to a mandatory regime?
The ADR Report also made it clear that mandatory ADR may not be suitable for every case.
08/05/2021
SPACs in the UK – the new listing rules and their potential impact on deal activity and claims trends
The rationale for this change is to provide protection to investors at a stage when there is still limited public information available.
08/05/2021
Latham & Watkins Advises on McLaren's US$620 Million Refinancing and £550 Million Equity Investment
Cross-practice team represents Goldman Sachs and HSBC in transaction supporting global luxury supercar and elite motorsport business’ growth plans.
08/05/2021
Any return of bonuses for top bankers 'would not be acceptable' to staff and public
The Government sold a small portion of its 14% stake in BoI on Tuesday after the lender posted better-than-expected interim results.
08/05/2021
FCA stops BDSwiss offering contracts for differences (CFDs) to UK customers
As a result of the activities of the BDSwiss Group and these affiliates, numerous UK consumers have lost significant sums of money.
08/05/2021
Financial Regulation: Daily Update
The FCA states that the firm remains under investigation for its conduct.
08/05/2021
FCA bans Cypriot firm from offering CFDs to UK investors
The regulator has banned BDSwiss from offering high-risk CFDs to UK investors after identifying serious concerns over its sales and marketing practices.
08/04/2021
Ascot Lloyd ordered to refund client's ongoing fees
The regulator had assessed the issue in its evaluation of RDR and FAMR, finding an increase in new clients paying ongoing advice fees (increasing to 90% in 2020 from 70% in 2019).
08/04/2021
Coronavirus updates for UK employers
This option raises some data protection and privacy issues and the Government makes it clear in its guidance to employers that they must adhere to data protection legislation.