12/23/2022
Why has the EU personal pension product failed to take off?
It is a ‘step in the right direction albeit a slow one so far’
Legal, Regulation & Compliance
12/23/2022
Santander, UK regulator reviewing allegations of senior banker's misconduct
The Financial Conduct Authority, which regulates financial institutions in the United Kingdom, opened its own case in the autumn to assess the claims, sources with knowledge of the matter said.
12/23/2022
German regulator rebukes Standard Chartered over European operations
In October, it criticised the bank after a special audit uncovered that its internal organisation did not meet legal requirements.
12/23/2022
Curtis Banks extends deal talks with Nucleus
The adviser platform is majority owned by private equity firm HPS Investments, and fellow private equity house Epiris also owns a smaller stake.
12/23/2022
FCA issues 1,800 potential scam warnings
The strategy focuses on three areas: reducing and preventing serious harm, setting and testing higher standards, and promoting competition and positive change.
12/23/2022
Scottish court clarifies the distinction between confidentiality and legal privilege
In October, in the earlier judgment, the Inner House ruled that communications covered by LPP cannot be recovered by the SLCC to investigate a third-party complaint unless the client of the solicitor gives permission.
12/22/2022
Highlights of the FCA’s approach in 2022
This action reflects the FCA’s increasingly data-led and assertive approach, which enables the regulator to find and deal with problem firms and misleading adverts swiftly.
12/22/2022
Temporary permissions removed if firms failing to apply for authorisation
The TPR was put in place so those firms could continue to operate in the UK while they applied for full FCA authorisation, following the UK’s withdrawal from the EU.
12/22/2022
German yields steady, spreads tighten after recent repricing
ECB euro short-term rate (ESTR) forwards price in the depo rate to peak at around 3.4% in the summer of 2023, from about 2.8% before last week's meeting.
12/22/2022
Van Lanschot Kempen and Mercier Vanderlinden to take next step in collaboration by accelerating acquisition of remaining stake
Joint assets under management (AuM) for Mercier Vanderlinden and Van Lanschot Belgium amounted to €9.6 billion by the end of November.
12/22/2022
Leading UK fintechs call for “urgent” clarity on open banking’s future
Monzo, Wise, Moneyhub and more than a dozen other fintechs have written to the FCA and PSR to complain about the progress so far.
12/22/2022
Industry faces mounting to-do list as regulatory equivalence drifts ever further
Edinburgh Reforms and SDR
12/21/2022
Sompo secures approval to consolidate its UK footprint
The move executes its strategic objective of consolidating its UK presence into one company market platform.
12/21/2022
Addleshaw Goddard: Financial Services & Banking News
The report provides an overview of the Government’s key areas of focus for the next phase of the development of the money laundering regulations (MRLs) and the wider AML regime that sits around them.
12/21/2022
Spanish life consolidator completes acquisition
It plans to bolster its operations across Europe
12/21/2022
AES under regulatory restrictions in the UK
But the firm’s CEO tells IA they were placed on the business by the FCA on a ‘voluntary basis’
12/21/2022
IFC Investment to Boost Access to Finance for Green Housing in Romania
In Romania, access to housing finance is still limited, and IFC's financing will help develop the green housing loan market.
12/21/2022
CGD selects Wolters Kluwer’s OneSumX for regulatory reporting
Wolters Kluwer FRR, which is part of the company’s Governance, Risk & Compliance (GRC) division, is a global market leader in the provision of integrated regulatory compliance and reporting solutions.
12/20/2022
£10m Gibraltar Qrops case gets green light for UK trial
But in October 2022, the investors, represented by High Street Solicitors, appealed the decision and had it overturned in November 2022.
12/20/2022
Brussels briefing paper: European Commission issues guidance on merger control submissions under Article 22 EUMR
For merging parties, the change raised the prospect of the Commission intervening in transactions that competition regulators in the EU would not have previously reviewed at all.