03/18/2024
FCA decides on £5.95m fine and industry ban for Nailesh Teraiya in latest cum-ex case
In reality, this was not a repayment of tax as the claim related to shares that did not exist, no dividends had been paid and no tax had been deducted.
Legal, Regulation & Compliance
03/15/2024
Morgan Stanley Wins €1.4 Million French Bonus Spat With Banker Who Quit
The Paris court of appeals ruled against Bernard Mourad, saying the bank’s cash and shares incentive programs “sought to ensure his loyalty in the long term.”
03/14/2024
Financial Promotion: U-turn on UK high net worth individual and sophisticated investor exemptions
The changes in the 2024 Order reverse certain amendments made by recent regulations
03/14/2024
British government extends deadline for banks to combat rising fraud
By affording banks additional leeway to contact victims and law enforcement, the Government aims to disrupt the complex webs of deception by fraudsters.
03/14/2024
Investing in outcomes: a regulatory approach to deliver for consumers, markets and competitiveness
Speech by Nikhil Rathi, FCA Chief Executive delivered at the Morgan Stanley European Financials Conference.
03/13/2024
Market resilience, non-bank financial institutions and the central bank toolkit – practical next steps− speech by Nick Butt
Given at ISDA virtual conference on Procyclicality and Margin Practices
03/13/2024
Beyond banks: four ways regulators are tackling perceived NBFI risks
The approaches are complementary and mutually reinforcing – as far as many policymakers are concerned, progress is needed on all four to deal comprehensively with NBFI risks.
03/13/2024
DWP's frozen state pension policy called into question
There are currently more than 450,000 British pensioners living outside of the UK who do not receive annual upratings because of the frozen pensions policy.
03/13/2024
Walkers advises Ares on $3.3 billion private credit loan to Ardonagh Group
Ares is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes.
03/12/2024
FCA updates position on cryptoasset Exchange Traded Notes for professional investors
Exchanges will need to continue to make sure sufficient controls are in place, so trading is orderly and proper protection is afforded to professional investors.
03/12/2024
Addleshaw Goddard: Financial Services & Banking News
The consultation forms part of HM Treasury's wider work aimed at reducing money laundering, which was set out in the Economic Crime Plan 2023-26.
03/12/2024
New labour data provides BoE with evidence that higher rates are having desired impact
The fear has been that without the better data at hand the Bank might end up in a situation of accidental over-tightening of monetary policy, after inflicting more pain than necessary on the jobs market.
03/12/2024
Solvent exit planning for non-systemic banks and building societies
The PRA considers that the changes to the draft SS are not significant and will not materially alter the cost benefit analysis presented in CP10/23.
03/11/2024
Addleshaw Goddard: Financial Services & Banking News
The report explores how synthetic data can be used to overcome data challenges and sheds light on practical applications in financial services.
03/11/2024
Concerns British Isa would not fit with consumer duty
The consumer duty requires advisers to avoid causing foreseeable harm which will prompt consideration of past and anticipated future relative performance.
03/11/2024
FCA fines financial advice firm and bans Arthur Cobill and William Hofstetter for British Steel Pension Scheme advice and oversight failings
IFM poorly advised people to transfer out of defined benefit pension schemes, including the British Steel Pension Scheme.
03/08/2024
London team advises Qatalyst Partners and Wells Fargo on Viavi’s £1bn offer for Spirent
The Spirent Group is a leading global provider of automated test and assurance solutions for networks, cybersecurity, and positioning.
03/08/2024
Region’s healthtech businesses gather to hear from Shoosmiths and others as part of West Midlands Health Tech Innovation Accelerator drive
The aim of WMHTIA is to tackle the challenges companies face when bringing new technologies to the market.
03/08/2024
Approval of temporary exemptions from conditions for maintaining the listing in accordance with article 7 Listing Rules and the delisting of Crealogix Holding AG's registered shares
Temporary exemptions from certain conditions for maintaining the listing in accordance with article 7 Listing Rules
03/08/2024
Processing of employee email data and metadata in Italy
Processing of employee email data and metadata in Italy