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.
Legal, Regulation & Compliance
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.
09/19/2024
Sustainable investment regulation in the UK and EU
New UK sustainability reporting standards in line with international standards are expected to be outlined by the UK government in 2025.
09/19/2024
Why Switzerland remains a leading European jurisdiction for foreign companies
These new settlements demonstrate continued international confidence in Switzerland’s business environment—and this confidence is well-placed.
09/19/2024
The first cut is the steepest: the Fed, market expectations and the dollar
The Federal Reserve has made its first interest rate cut since the pandemic, reducing rates by 50 basis points (bps).
09/19/2024
HMRC’s new digital service to unlock thousands in public sector pension rebates
HMRC has recently launched an updated digital service aimed at assisting Public Sector pension
09/18/2024
Carey Olsen shortlisted for Offshore Firm of the Year at The Lawyer European Awards 2024
This shortlisting reinforces another successful year for the firm
09/17/2024
Deputy Premier leads successful UK and EU engagement
Ebanks and Campbell also met with representatives of the Channel Islands office to exchange insights and updates.
09/17/2024
Bank of England set to leave rates unchanged on 19th September, but leave door wide open for future cuts according to AllianzGI
Beyond the September meeting, however, we think that the UK labour market will continue to loosen
09/17/2024
Flexible working laws could reduce regional inequality, Business Secretary says
Mr Reynolds also voiced his support for increasing minimum wage to ensure those in work are guaranteed ‘a decent quality of life’.
09/17/2024
Mirabaud & Cie SA seriously violated financial market law
The appeal has now been dismissed by the Federal Supreme Court.
09/17/2024
SEB develops its organisational structure to support its long-term strategic direction
With the new divisional structure, SEB will have four divisions as of 1 January 2025, compared with the current six.
09/13/2024
Swiss Banks Charge Hefty Transfer Fees
For foreign securities, the cost has dropped from 120 francs to 95 francs over the same period.
09/13/2024
The Investment Association responds to FCA temporary measures for firms on ‘naming and marketing’ sustainability rules
We will continue to work constructively with the FCA and support our members to meet these deadlines, noting the more limited extension for firms complying with the 'naming and marketing' rules.