08/04/2019
FCA needs formal powers to propose regulatory perimeter changes
The Treasury should undertake research on enabling the FCA to determine whether it should gather data from non-regulated entities.
Legal, Regulation & Compliance
08/02/2019
Woodford Equity Income 'inadvertently' breaches 10% unquoted stocks limit again
The firm added: "The Financial Conduct Authority's guidance, as for all UCITS limits, is that funds should be brought back into compliance following an inadvertent passive breach in a manner that is in the clients' best interests and within
08/02/2019
Bank of England cuts growth forecasts as Brexit and global worries mount
The BoE’s Monetary Policy Committee (MPC) voted 9-0 to keep rates unchanged at 0.75%, as expected in a Reuters poll of economists, and said rates could move either way, whatever form Brexit takes.
08/02/2019
New anti-fraud checks will stop money being sent to the wrong bank account by mistake
Name checks will soon be automatically carried out when UK bank customers send money to other people, in a bid to halt a rising tide of bank transfer fraud
08/02/2019
FCA will not regulate bitcoin
FCA executive director of strategy and competition Christopher Woolard said: “This is a small, complex and evolving market covering a broad range of activities.”
08/02/2019
KPMG U.K. Fines Top $16 Million in 2019 Amid Industry Crackdown
The fine brings the total amount of U.K. penalties the accounting firm has faced in 2019 to at least 13.5 million pounds amid widespread criticism of the industry.
08/02/2019
Leading offshore law firm shortlisted as ‘Law Firm of the Year’
The Citywealth IFC awards aim to highlight the excellence of advisers and managers in the private wealth sector in major international financial centres.
08/02/2019
Senior Managers and Certification Regime: solo-regulated firms
This extension affects almost every solo-regulated firm, from very small firms (including sole traders and limited permission consumer credit firms) to some of the largest global firms.
08/02/2019
FRC fines rocket 276% to £42.9m in 2018/19
The Review sets out the robust and proportionate Enforcement action taken in the past year
08/02/2019
Market conduct and transaction reporting issues
What proactive steps do you take as a firm to identify the conduct risks inherent within your business?
08/01/2019
Judge rules in favour of adviser network in 'Ponzi' case
The judgement comes after in November a court had already ruled in favour of Sense and against 95 claimants who were clients of Alistair Greig, the owner of Midas Financial Solutions (Scotland) Ltd and an appointed representative of Sense.
08/01/2019
Invest nationally outside Dublin - We need to balance the economy
The Central Bank has warned of major job losses across the economy, in the event of a no-deal Brexit.
08/01/2019
Draft technical standards on the content and format of STS notifications under the onshored Securitisation Regulation
This is the first consultation paper setting out our proposed technical standards for the onshored Securitisation Regulation.
08/01/2019
British art dealer jailed in US over £25 million fraud
Sammons pled guilty on July 2 to 15 counts of grand larceny and fraud
07/31/2019
Top German court OKs EU 'banking union'
In 2013, Germany and other eurozone countries handed oversight of more than 100 "significant" banks in the single currency area to the ECB, in a new arm known as the Single Supervisory Mechanism (SSM).
07/31/2019
Legal & General strikes savings account deal with Raisin
The UK investment giant signs its first fintech partnership.
07/31/2019
The new breed of international family
The situation in Guernsey is no exception, where we’re experiencing a marked shift away from our past UK-centricity.
07/31/2019
Commercial Court considers contractual discretion of bank to close customer account without notice where there is suspicion of money laundering
This is a perennial debate, and the recent Law Commission consultation on reform of the SARS
07/31/2019
Bright prospects: Ratings agency Fitch upgrades it’s Malta rating to ‘positive’
Over the years that have followed it built up a solid reputation for being an agile, advantageous and practical country in which to do business in sectors that include additional to financial services, gambling and gaming as well as fund administration
07/31/2019
German law targets money laundering in property market
The legislation will expand the number of professional groups required to report suspicious deals and take precautions to prevent laundering.