09/30/2024
FCA and BoE open digital securities sandbox
Firms can even arrange pre-application meeting with the regulators in order to better understand the requirements, according to the announcement.
Legal, Regulation & Compliance
09/27/2024
Fraud, Error, and Debt bill proposed by UK Government
The new powers of the DWP will be kept in check by a Code of Practice to prevent misuse.
09/27/2024
German finance minister tells Italy of his concerns on UniCredit move, sources say
The political pressure follows UniCredit's move to seize control of about a fifth of Commerzbank's shares, paving the way for a possible takeover bid.
09/26/2024
Proposed new rules to better protect customers of payments firms
Instead, firms must safeguard funds which can mean customers lose money or experience delays to funds being returned if the firm fails.
09/25/2024
FCA cracks down on £1.2m Coutts private bank fraudster
Francis Buckman, alongside others, attempted to steal more than £2.3m
09/25/2024
London wealth adviser goes into administration
Its clients have been transferred to another business
09/25/2024
The best contentious trust lawyers in 2024
Welcome to the Spear's guide to finding the best contentious trust lawyers in 2024
09/25/2024
Banks face the stacking of AML/KYC software
Compliance costs in Europe amount to around €100bn annually
09/24/2024
Senior independent director review into whistleblowing concerns
In line with the corporate governance of the FCA, the board’s senior independent director, Richard Lloyd, carried out an internal review of the handling of the two individuals’ whistleblowing communications by the chair.
09/24/2024
New UK employment legislation: Worker Protection (Amendment of Equality Act 2010) Act 2023
New UK employment legislation is now in effect to strengthen workplace measures against sexual harassment.
09/24/2024
Quilter's asks and analysis of rumours ahead of Labour's first budget
The OBR has warned that UK debt is on an unsustainable path and Rachel Reeves has pledged no return to austerity.
09/24/2024
FCA chair cleared of wrongdoing amid whistleblowing review
Following the first public allegation, a second former employee of the watchdog, came forward with a similar allegation as to the handling of their whistleblowing communication to the chair.
09/23/2024
Silvio Berlusconi posthumously wins longstanding banking dispute in EU court
The ECB, as the EU’s chief financial supervisor, is responsible for ensuring anyone owning more than 10% of a bank’s shares is of good repute.
09/23/2024
Close Brothers sells wealth management unit to Oaktree for £200m amid motor finance probe
Close Brothers has agreed to sell its wealth management unit to Oaktree in a £200mn deal as it seeks to strengthen its capital position ahead of a regulatory investigation into motor finance practices.
09/23/2024
UK has highest concern about excessive regulation
The firm commissioned a global survey of around 800 major decision-makers in financial services organisations.
09/20/2024
Statement on forbearance in relation to investment trust disclosure requirements
Treasury will lay legislation in H2 2024 to provide us with the additional powers to deliver this reform.
09/20/2024
Reforms to financial services retail-disclosure requirements
As part of this, the Government and FCA are committed to replacing EU-inherited consumer cost disclosure regulation with a new framework tailored to UK markets and firms.
09/20/2024
FSCS declares Staffs wealth manager as failed
The FSCS declared Pro-Synergy Wealth & Tax Management Ltd as in default this week after a first claim was uphedl
09/20/2024
Federal Council initiates consultation on amending Financial Market Supervision Act and other legislation concerning international cooperation
The Federal Council's proposals will further strengthen the reputation and global role of Switzerland as a financial centre.
09/19/2024
New FCA rules to protect access to cash already having an impact
Under the rules, banks and building societies must assess whether changes to local services, like closing branches or cash machines, leave local communities lacking ways to take out or pay in cash.