02/02/2021
EU says in appeal that Apple tax ruling was 'contradictory'
In an online summary of the appeal posted online, the EU said the court's decision “constitutes contradictory reasoning”
Legal, Regulation & Compliance
02/02/2021
UK applying to join Asia-Pacific free trade pact CPTPP
Joining the bloc would reduce tariffs on UK exports such as whisky and cars, as well as service industries, she said.
02/02/2021
FCA publishes review into unsecured credit market
New ways of borrowing and the impact of the pandemic are changing the market, with billions of pounds now in unregulated transactions and millions of consumers at greater risk of financial difficulty.
02/02/2021
Ireland Update - Central Bank's Portal: Deadline for Registration
From 15 February 2021, the portal must be used for specific fund filings including attestation requests, index submissions and filings of amended fund documentation.
02/02/2021
PIMFA calls on Industry, Government and Regulators to work together to create a future advice market that works for all
Another issue was a lack of trust in the advice profession, perpetuated by pension scandals or news stories involving consumers with a bad experience of financial advice.
02/02/2021
Sandfield Capital launches to re-imagine the future of legal finance
Ex-Close Brothers leader creates new fund to shake-up the industry.
02/02/2021
Ogier advises on private equity firm's £1.1bn acquisition of Priory Group
Ogier advised on the Jersey corporate and finance aspects of the acquisition.
01/31/2021
Beneficial Ownership Transparency: UK Overseas Territories commit to publicly accessible registers
This includes major financial centres such as the Cayman Islands and the British Virgin Islands.
01/29/2021
Little Regulators Can Do to Stop Fraud Without Action from Government
The victims of such frauds are left to turn to the Financial Services Compensation Scheme but every person that has had to do so has, in PIMFA’s view, already suffered a bad outcome that could have been avoided.
01/29/2021
FCA asks banks to reconsider branch closures during coronavirus lockdown
Firms are reminded to consider the impact of national restrictions on compliance with the Principles, given our existing guidance on branch closures.
01/29/2021
Court limits bank's liability for APP fraud
The court was considering the scope of the Quincecare duty in a case in the context of an authorised push payment (APP) fraud perpetuated on a couple in the Bristol area.
01/29/2021
Hong Kong: China will no longer recognise British national overseas citizens
Move comes after UK says people with status can move to Britain and eventually settle
01/29/2021
Quilter merges away fund range as outflows mount
Quilter Investors is merging its suite of Generation portfolios with its Monthly Income range to ‘safeguard customers’ investments’ following steep outflows.
01/29/2021
CSSF: UK deemed equivalent for the purpose of the national third-country regime under MiFIR
The scope of the regime itself is limited to Luxembourg – any future EU-wide passporting will depend on whether the European Commission issues an equivalence decision under MiFIR.
01/29/2021
How financial services providers can prepare for new AI regulation in Europe
Financial services providers should prepare for the changes forthcoming.
01/29/2021
New German competition law gives regulator new digital platform investigation powers
The German parliament had adopted the government's draft of the so-called GWB Digitisation Act as amended by the parliament's Economic Committee.
01/29/2021
Greenwashing under regulatory scrutiny
Consumers are increasingly seeking out eco-friendly goods for which they are willing to pay a premium.
01/29/2021
Exclusive: Regulators press Deutsche Bank CEO to drop investment bank role - sources
It was unclear when regulators last voiced their concerns directly, but the two people said over the past week that the bank was well aware of their position, with one adding that contact with Deutsche was “constant”.
01/28/2021
Contactless card payment limit could be increased to £100
The limit for contactless card payments was raised from £30 to £45 last April at the start of the coronavirus pandemic.
01/28/2021
Commission launches debate on responding to the impact of an ageing population
This Commission has put demography high on the EU policy agenda.