10/05/2023
Consumer duty tool will help advisers 'embrace' regulations, says PFS
There will also be two in person consumer duty action planning workshops held this month to run alongside the launch.
Legal, Regulation & Compliance
10/05/2023
Aegon defends automatic transfer of clients into loss-making fund
The fund is intended for those who will be buying an annuity within the next 12 months when they enter retirement.
10/04/2023
FCA bans Simon Hughes for failures in advice given to British Steel Pension Scheme Members
Mr Hughes was solely responsible for the pension transfer advice provided by the firm in his role as pension transfer specialist and financial adviser.
10/04/2023
PRA statement on the dynamic general insurance stress test in 2025
This statement provides an early indication to industry of the Prudential Regulation Authority’s (PRA) intent to run a dynamic general insurance stress test in 2025.
10/03/2023
German regulator appoints monitor at Deutsche Bank for Postbank issues
The issue has been a setback for Deutsche Bank’s effort to restore credibility after fines for lapses in money laundering controls, raids by authorities and other penalties.
10/03/2023
FCA fines ADM Investor Services International Limited £6,470,600 for serious financial crime control failings
The FCA raised concerns with ADMISI in 2014 about its AML systems, including the absence of a formal process to classify customers by risk.
10/02/2023
Finance Committee Republicans press IRS chief counsel nominee on Pillar Two, Inflation Reduction Act guidance
William Paul, the current principal deputy chief counsel, has been serving as acting chief counsel in the interim.
10/02/2023
FCA confirms leasehold buildings insurance reforms
Insurers will also be required to ensure that their insurance policies provide fair value to leaseholders and provide important information about their policy and its pricing
10/02/2023
Dutch government mandates accounting for employee mobility
This includes employee distance travelled by means of transport and fuel type.
10/02/2023
NatWest employee jailed over £1mn theft from customers
A number of the accounts were held by people who lived outside the jurisdiction, the majority of which had significant balances in them.
10/02/2023
Watchdog installs monitor at Deutsche Bank after surge in Postbank complaints
The issue is a setback for Deutsche Bank's effort to restore credibility after fines for lapses in money laundering controls, raids by authorities and other penalties.
09/29/2023
FCA takes action against Darren Reynolds and Andrew Deeney of Active Wealth for dishonest pension transfer advice
These payments were funnelled via companies connected to Mr Reynolds and were intentionally designed to disguise their true origins.
09/29/2023
Quilter Cheviot Jersey to establish new financial planning capabilities
His appointment will be followed by a number of financial planner hires as the Jersey office grows its client-facing team on the island.
09/29/2023
Esma work programme to focus on digital change and the green transition
2024 will be an important year for the European Union as a whole, with a new Parliament and Commission following the elections next June.
09/29/2023
FCA to send another financial resilience survey
They will receive an automated reminder via RegData when the return is available for submission.
09/28/2023
FCA set to launch private markets review
The regulator is preparing to look into valuations in private markets.
09/28/2023
Swiss banking stands before the courts of morality
Of course, it can be argued that these specific incidents happened many years ago - and the world has changed in the meantime.
09/28/2023
Addleshaw Goddard: Financial Services & Banking News
The consultation sets out the PRA's proposed clarifications and amendments when capitalising foreign exchange exposures under the market risk capital framework.
09/27/2023
The EBA second mandatory exercise on Basel III full implementation shows a significantly reduced impact on EU banks with shortfalls nearly fully absorbed
The overall impact includes the economic impact of the Covid-19 pandemic that had materialised up until December 2022, the reference date of this Report.
09/27/2023
UK Regulators Come Together to Warn Against Using Harmful Online Design
Both regulators stressed their commitment to take formal enforcement action where necessary to protect consumers.