06/16/2023
Addleshaw Goddard LLP: Financial Services and Banking News
The PRA asks life insurance firms to consider the findings of its review
Legal, Regulation & Compliance
06/15/2023
Swiss Banking Underestimates Wealth Management Risk
They did this at the same time that Swiss members of parliament have been asking for a doubling of equity requirements while also weighing up possible total balance sheet size limits relative to Swiss GDP.
06/15/2023
UK banks urged to prepare for new APP fraud reimbursement rules
Under the proposed new rules, payment firms will have to reimburse most APP fraud victims within five business days and additional protections will be put in place for vulnerable customers.
06/15/2023
Employing UK citizens in Germany
This means that UK citizens must leave Germany after 90 days of stay, unless they can show a residence permit that allows them to remain in the Federal territory.
06/15/2023
Odey Asset Management plans funds, staff moves in fight for survival
Several major banks, which provided prime brokerage services, have said they would cut ties with Odey's firm.
06/15/2023
FCA imposes restrictions on 10 firms amid increased AR scrutiny
They also generated up to 400 per cent more supervisory cases and complaints than other directly authorised firms.
06/15/2023
Addleshaw Goddard: Financial Services & Banking News
The data covers the period between April 2022 and March 2023 and details the volume of complaints the FOS has received and the overall uphold rates.
06/15/2023
FCA restricts ten principals following introduction of tougher rules
Over last six months
06/15/2023
ECB meets expectations with 25bps hike
Highest since 2001
06/14/2023
Carey Olsen advises EG Group on £2.27 billion majority sale to ASDA
Carey Olsen advised the EG Group alongside onshore law firm Skadden, Arps, Slate, Meagher.
06/14/2023
Price and monetary policy transmission in a globalised economy − speech by Swati Dhingra
Given at Manchester Metropolitan University
06/14/2023
Three individuals face charges for unauthorised sale-and-rent-back schemes
Rent payments can go up during the tenancy and people may be evicted if they fall behind on payments.
06/14/2023
Statement following Upper Tribunal decision in case against 3 individuals
These were serious failings so it was clearly in the public interest for us to examine the conduct of the individuals who were most closely involved.
06/14/2023
Stephenson Harwood (Singapore) Alliance advises ABN AMRO Bank and CACIB on US$160 million sustainability-linked loan
The SLL includes a sustainability-linked margin adjustment with two key performance indicators: one linked to reducing fleet emissions and the second to increasing the number of female seafarers in BWEK's employment.
06/14/2023
CS seeks dismissal of Mozambique case in London
The bank and other parties are being charged for their role in arranging $2 billion in loans and borrowing for the country in 2013.
06/14/2023
Ex-Julius Baer employees win appeal over British ban
The three ex Bank Julius Baer employees appealed against the proposed bans to London's Upper Tribunal, which on Tuesday allowed their appeals, asking the regulator to reconsider whether a ban should be imposed.
06/14/2023
HanseMerkur Trust Swiss receives Finma licence
The company is a subsidiary of a Hamburg health insurance provider.
06/14/2023
Odey Asset Management freezes funds as clients pull money, prime brokers flee
Crispin Odey has denied the allegations of misconduct, which were jointly reported by the Financial Times and Tortoise on Thursday.
06/13/2023
Completion of large banks merger brings clarity and stability
FINMA will continue to supervise the merged large bank very closely during the integration process.
06/13/2023
HMRC writes to UK residents named in Pandora Papers leak
They have been warned to report all their overseas income and gains they owe tax on or face penalties