09/16/2022
Deutsche Bank downgrades abrdn as it questions cost-saving strategies
Fund closures may dent revenue
Legal, Regulation & Compliance
09/16/2022
New appointed representative requirements on way for UK financial firms
Principals will be required to notify the FCA of future AR appointments 30 calendar days before they take effect and provide complaints and revenue information on their ARs to the FCA on an annual basis.
09/16/2022
Jupiter’s new boss signals restructure
Two sources told the FT this role will now be split, with individual heads appointed to lead risk and compliance separately.
09/16/2022
Union urges govt to reconsider ending final salary scheme
New legislation is required to reform the schemes.
09/16/2022
CSSF issues communication on requirements according to SFDR and SFDR RTS.
Luxembourg’s Commission de Surveillance du Secteur Financier has issued a communication to the investment fund industry on regulatory requirements in relation to Regulation 2019/2088 on sustainability-related disclosures in the financial services se
09/15/2022
Gloucestershire Credit Union Limited enters administration
Gloucestershire Credit Union Limited is a financial co-operative owned by its members.
09/15/2022
Addleshaw Goddard: Financial Services & Banking News
The Government has also issued a call for evidence, to be submitted to the House of Commons Public Bill Committee which is going to consider the Bill.
09/15/2022
'The SNB rate hike slapped the ECB in the face': PineBridge chief economist
‘Negative interest rates were really dumb,’ according to Markus Schomer.
09/15/2022
Former James Hay employee launches consumer duty service
Then in tandem, the other survey will gather data from customers on their interactions with the company.
09/15/2022
Ex-Woodford director's firm no longer holds FCA approval
Curated Capital removed from register
09/15/2022
UK's Kwarteng considering end to cap on banker bonuses
An EU-wide cap on bankers' bonuses was introduced following the financial crash and remains in place in Britain despite the country leaving the bloc.
09/15/2022
Danske Bank fined €1,820,000 by Central bank of Ireland for multi-year AML deficiencies
Anti-money laundering and countering the financing of terrorism compliance is, and will remain, a key priority for the Central Bank.
09/14/2022
FCA decides to impose conditions on takeover of Link Group
The FCA has investigated the circumstances leading to the suspension of the WEIF and is likely to seek to require LFS to pay a financial penalty and/or consumer redress.
09/14/2022
Link/Dye & Durham deal affected by UK regulatory action
The FCA has therefore decided to approve D&D’s acquisition of LFS, subject to a condition to commit to make funds available to meet any shortfall within LFS in the amount available to cover any redress payments LFS may be required to make.
09/14/2022
Authority for entering into a contract in Ireland
The business of a company is managed by its directors acting collectively.
09/14/2022
Banks and technology partners join EU-wide pilot of digital IDs
The consortium’s proposal focuses on payments, one of the top priority use cases in the EU’s digital ID wallet vision.
09/13/2022
Parties scrapped and bells toll as UK finance sector pays respect
The Bank of England set the tone swiftly after the Queen died on September 8
09/13/2022
FCA seeks £306m Woodford redress bill from Link
The regulator said the decision was not final and could be challenged by Link.
09/13/2022
RBC’s £1.6bn Brewin deal jumps final regulatory hurdle
Royal Bank of Canada's mega deal for Brewin Dolphin has received approval from the Canadian regulator, with the takeover set to complete later this month.
09/12/2022
EBRD and DSK Bank strengthen competitiveness of firms in Bulgaria
The two partners are reactivating and increasing an unfunded risk participation framework agreement from €30 million to €75 million.