12/19/2016
Brewin Dolphin buys Belgravia wealth manager
Duncan Lawrie Asset Management is part of Belgravia-based financial services group Duncan Lawrie.
Legal, Regulation & Compliance
12/19/2016
Birmingham Director Banned For Evading HMRC
Neglect of tax affairs is not a victimless action as it deprives the taxpayer of the funds needed to operate public services
12/18/2016
PSR kick-starts industry-wide effort to tackle payment scams
The PSR also found evidence to suggest some banks could do more to identify potentially fraudulent incoming payments, and to prevent accounts falling under the influence of scammers.
12/18/2016
ESMA Updates MIFID II Q&A On Investor Protection
MiFID II applies from 3 January 2018 and will strengthen the protection of investors by both introducing new requirements and reinforcing existing ones.
12/16/2016
UK Regulation round-up December 2016
Regulation round-up is our monthly email to all regulated firms, updating you on the latest news that affects your sector.
12/16/2016
Initial advice charges for lump sum investments
The FAMR report said that instalment-based payments could make financial advice more affordable and accessible for some consumers, provided that the terms of the instalment payments were clear and fair.
12/16/2016
EBA publishes final guidelines on revised Pillar 3 disclosures requirements
These Guidelines represent a significant step forward in the EBA's effort of improving and enhancing the consistency and comparability of institutions' regulatory disclosures
12/16/2016
New York regulator fines Italy's Intesa Sanpaolo US$235 million
Intesa Sanpaolo and its New York branch mismanaged its transaction monitoring system and failed to identify suspicious transactions
12/16/2016
ESMA Consults On Extending Aggregated Trade Repository
ESMA is setting out several proposals to enhance the data made publicly
12/16/2016
Case against IMF's Lagarde in Sarkozy scandal is 'weak', prosecutor says
An arbitration panel ordered the payout to Tapie in connection with his sale of sportswear company Adidas
12/15/2016
High Court dismisses mis-selling claim and clarifies standard of care required of financial advisors
In O'Hare v Coutts, the High Court dismissed a claim alleging that the defendant, a private bank, breached duties in contract and tort to use reasonable care and skill when recommending five investments that the claimants entered in 2007, 2008 and 20
12/15/2016
PRA and FCA provide feedback on the implementation of the Senior Managers' and Certification Regimes for banks and insurers
This suite of documents did not include consultation on extending the regime to all firms
12/15/2016
EBA publishes final draft technical standards on cooperation and exchange of information for passporting under PSD2
The final draft RTS set out a harmonised framework for cooperation and exchange of information between Competent Authorities to facilitate cross-border provision of payment services in the EU internal market.
12/15/2016
Credit Suisse must face New York mortgage suit, court says
Credit Suisse Group AG must face New York Attorney General Eric Schneiderman's US$10 billion lawsuit accusing the bank of fraud in the sale of mortgage-backed securities before the 2008 financial crisis, a state appeals court ruled Tuesday.
12/15/2016
Fund managers' scourge Chris Sier spreads the word
He wants the data to be managed for zero cost and offered as a template abroad, in due course.
12/15/2016
Transitional deal would reduce Brexit's risks to financial stability
Bank of England deputy governor indicates details of arrangement needed within nine months of article 50 being triggered
12/15/2016
Credit Suisse Reaches Agreement With Italian Prosecutors
An Italian court this week agreed to a deal between Credit Suisse and the Italian authorities
12/15/2016
Esin Attorney Partnership & Baker Mckenzie wins Turkey “Legal Adviser of the Year” at the 10th Mergermarket European M&A Awards in London
This is the second time in the last six years that the Firm has received this award
12/15/2016
EU prepares rule changes to target City’s euro clearing
Pre-Brexit move would deprive London of flagship financial business
12/15/2016
King & Wood Mallesons tax chief in talks to join Reed Smith as City firms rally for trainees
KWM has updated its partnership deed to ensure that any tax losses are split fairly between current and former partners