02/09/2018
Ring-fencing: PRA modification by consent of Fitness and Propriety 2.7
The modification is available until 31 August 2018
Legal, Regulation & Compliance
02/08/2018
Commerzbank May Revive Dividend Scrapped in Restructuring
The results came less than a week after Deutsche Bank AG, it’s larger rival, posted its third consecutive annual loss
02/08/2018
Spain economy minister and Irish central bank head to compete for ECB post
Spain named Economy Minister Luis de Guindos on Wednesday as a candidate for the coveted vice-presidency of the European Central Bank, pitching him against Ireland’s central bank governor Philip Lane. The race to be the ECB’s number two kicks
02/08/2018
FCA and ICO publish joint update on GDPR
The Financial Conduct Authority and the Information Commissioners Office have today published an update on the EU General Data Protection Regulation.
02/08/2018
'Lender of last resort' took homes for loans of just £2k
The trial of Dharam Prakash Gopee concluded today at Southwark Crown Court with the jury returning a guilty verdict to the charges brought by the Financial Conduct Authority (FCA) for offences under the Consumer Credit Act 1974 and the Financial Services
02/08/2018
Withdrawal of the United Kingdom and EU rules in the field of banking and finance
These notices aim to prepare stakeholders for this event, setting out the consequences that the UK withdrawal will have on banking and finance rules.
02/08/2018
Art Dealer Quizzed After Billionaire’s Fraud Complaint
Such meetings can be the trigger of criminal proceedings and formal accusations.
02/07/2018
International law firm launches strategic citizenship and residence consultancy
Helping clients interested or needing to secure additional citizenships, or residency rights through investment programmes, will be an area of particular focus
02/07/2018
The Future of the City by Andrew Bailey
Speech by Andrew Bailey, Chief Executive of the FCA, at the Future of the City dinner.
02/07/2018
Bank of England Statements of Commitment to Market Codes
The principles of these Codes are important in promoting the integrity and effective functioning of these respective markets.
02/07/2018
The return of the Onshore Trust? - Ilott v Mitson
Some trusts can also have the benefit of supplying funds without depriving vulnerable persons of the means tested benefits on which they are reliant.
02/07/2018
Asset management roundup: French regulator examines fund fees
The regulator’s study also found that, in general, foreign funds charged slightly higher fees on average than French funds for equivalent asset classes.
02/07/2018
Jersey regulator disappointed with suitability review outcome
A host of failings have been flagged up during the Jersey Financial Services Commission’s (JFSC) review of 10 locally-based firms and the suitability of the investments they recommend.
02/07/2018
UK Lawmakers Press FCA To Publish RBS Restructuring Unit Report
Conservative MP and Treasury Committee Chair Nicky Morgan said in a letter sent to the FCA Chief Executive Andrew Bailey dated Wednesday that although she notes Bailey's concerns that publication would serve as a "precedent" that this is
02/07/2018
FCA wins authorisation cancellation fee complaint
The FCA initially rejected the complaint and it was then referred to the Complaints Commissioner.
02/06/2018
Unexplained wealth orders stalled by Stormont impasse
A failure to provide a response to a UWO may give rise to a presumption that the property is recoverable under any subsequent civil recovery action.
02/06/2018
Seven Investment Management warns on clone attack
Seven Investment Management (7IM) appears to have become the latest firm to be the target of scammers cloning its identity.
02/06/2018
Lloyds to axe handful of wealth roles in business restructure
In net terms 465 jobs will go, with Lloyds planning to create 465 new positions across the business.
02/06/2018
European banks intensify checks of Russian clients
Should the banks detect any violations associated with a certain customer, his or her account will be subject to restrictions, since the financial institution will start asking the client for additional information for each transaction
02/06/2018
EIOPA publishes the first paper of a series on systemic risk and macroprudential policy in the insurance sector
The paper also includes a proposal for a macroprudential framework for insurance and defines specific operational objectives based on the previously-identified sources of systemic risk.