05/22/2023
Facebook to be fined £648m for mishandling user information
Decision by Ireland’s privacy regulator will set record for breach of EU’s data protection rules
Legal, Regulation & Compliance
05/22/2023
Allen & Overy and Shearman & Sterling to create the first fully integrated global elite law firm
Combination will accelerate growth strategy of both firms, each with distinct market leadership and strong cultural compatibility.
05/22/2023
FCA warns about third party BSPS redress calculations
“This appears to have been a contributing factor to the misleading redress offers made by financial advisory firms to former BSPS members before the scheme started.”
05/22/2023
Credit Suisse Staff Prepare to Sue Regulator
Managing directors and directors have lost $400 million worth in bonus payments linked to AT1 bonds, which made up to 15 percent of their total bonus and vested after three years.
05/22/2023
Credit Suisse employees to sue Swiss regulator over AT1 bonus losses - reports
$400m in bonuses lost
05/22/2023
Postfinance wants to know again in the dispute with Finma
The point of contention is the risk provision of the state bank.
05/19/2023
Bank of England's Bailey: QT not to blame for banking turmoil
Treasury Select Committee
05/19/2023
ESAs draw consumers’ attention to how rises in inflation and interest rates might affect their finances
This includes the financial products and services that consumers currently hold or plan to buy, such as loans, savings, financial investments, insurance and pensions.
05/19/2023
EU Customs Reform: A data-driven vision for a simpler, smarter and safer Customs Union
At the same time, customs authorities will have the tools and resources they need to properly assess and stop imports which pose real risks to the EU, its citizens and its economy.
05/19/2023
FCA issues warning notice to three DFM employees
The FCA said a business model was set up in order to maximise the flow of retail customer funds for onward investment into high-risk illiquid bonds operated by connected people and business associates.
05/19/2023
FCA says it wants the UK to become ‘hostile environment’ for fraudsters at PIMFA’s Financial Crime Conference
Mr Hulme said the FCA was planning to do more in the coming years however with a new dedicated function within the regulator designed to proactively identify fraud and money laundering in the industry.
05/19/2023
Bermuda: Are you PIPA ready?
PIPA outlines the requirements for individuals and organisations that use personal information, as well as the rights that individuals have regarding the use of their personal information.
05/19/2023
Bank of England reportedly plans to reject Revolut’s banking licence bid
Could Revolut’s saga to win a UK bank licence be coming to an end?
05/18/2023
Deutsche Bank to pay $75 mln to settle Jeffrey Epstein accusers’ suit
The suit was filed last year in New York by an anonymous woman on behalf of herself and other accusers, alleging Deutsche Bank did business with Epstein for five years knowing he was engaged in sex-trafficking activity, the report said.
05/18/2023
Help is available for those who need it, says FCA
The FCA has repeatedly reminded firms of the importance of supporting their customers and working with them to solve problems with payment
05/18/2023
FCA secures £130,000 to return to investors
The FCA has recovered approximately £27,000 after Samuel Exall, Synergy’s Director, was ordered to sell assets.
05/18/2023
Credit Suisse AT1 bondholders force Swiss regulator to hand over wipeout decree - reports
Firmer foothold for wipeout contest
05/18/2023
EU and UK eye closer financial services regulatory cooperation with Brexit agreement
Memorandum of understanding
05/18/2023
France Issues Arrest Warrant Against Lebanese Central Bank Governor
Salame has reportedly called the arrest warrant a "violation of the law" that he would appeal.
05/18/2023
FCA has a 'once-in-a-generation opportunity' in SDR
Building a 'truly cohesive' framework