06/17/2022
Financial Services and Banking News
The BCBS states that the purpose of the principles is to promote a principles-based approach to improving risk management and supervisory practices related to climate-related financial risks.
Legal, Regulation & Compliance
06/17/2022
FCA tells lenders to support consumers struggling with the cost of living
The FCA is also concerned that some customers in vulnerable circumstances are not getting the support they need.
06/17/2022
Addleshaw Goddard: Financial Services & Banking News
ESMA notes that the approval process for the aforementioned Delegated Act may take some time and that the extension provided for by the Delegated Act will, most probably, not have entered into force by the end of the current temporary exemption.
06/17/2022
Bank of England fails to keep up with Fed
After today’s 0.25% increase, there is a risk interest rates rise more than anticipated given “second round” inflation pressures
06/17/2022
Ashman receives UK banking licence
The SME commercial lending market remains underserved with 50%[2] of SMEs surveyed saying they are unable to access finance and 84%[3] being frustrated by slow decision-making and inflexible credit offerings.
06/16/2022
Summary of the Main Proposals included in HM Treasury’s Responses to the ‘Review of the UK Funds Regime: A Call for Input’
The asset management industry is important as it plays a critical role in economic growth by providing funds to businesses throughout various stages of the lifecycle.
06/16/2022
German court rules on admissibility of claims bundling for foreign law claims
The case related to a German claims management company which had claims for damages from car owners in Switzerland assigned to it in the Diesel context in order to bundle these claims and jointly enforce them in the German courts.
06/16/2022
New Nationality and Borders Act may have ‘significant impact’ on travel to UK
The visa penalty provisions in the Act can also be enforced against countries that the government believes pose a “risk to international peace and security.
06/16/2022
Improving inclusivity for trans and non-binary employees in the UK
In addition to the positive consequences of support for individual employees, and consequential benefits such as improved staff retention, this can result in other benefits for businesses.
06/16/2022
Carey Olsen advises Synthesis Capital on US$300m foodtech fund
The pioneering Fund, which will look to back technology solutions that will help global food system
06/15/2022
FCA to strengthen protection of access to banking services
The FCA has warned that some banks and building societies are not currently doing enough to properly understand the impact of these changes and to keep their customers informed.
06/15/2022
Addleshaw Goddard: Financial Services & Banking News
These include product suitability and price transparency, uncertainty of insurance cover, culture and resilience.
06/15/2022
Food insecurity following Ukraine war set to drive more volatility
Between them, Russia and Ukraine also supplied more than half of the world’s sunflower seed.
06/15/2022
Addleshaw Goddard: Financial Services and Banking News
The draft regulations make consequential changes as a result of the Financial Services Act 2021
06/14/2022
Trial set for 2024 for Lloyds bank manager accused of theft
Hussain, of Romford, denies fraud, transferring criminal property and conspiracy to defraud.
06/14/2022
Financial Services & Banking News
The DCE will assist the analysis of, amongst other things, potential reform options relating to MA-FS methodology.
06/14/2022
Five new partners for Carey Olsen in Bermuda, Jersey and London
The five promotions bring the total number of partners across the Carey Olsen group to 68.
06/14/2022
Deciphering stablecoins: A financial stability risk?
Last week, a consultation paper suggested the UK Treasury would give the BoE authority to address the collapse of failed, systemic stablecoins.
06/13/2022
Explainer: What does Russia’s “zero inflation” mean?
In two of the last three weeks with data, Rostat said Russia actually recorded a slight deflation.
06/13/2022
UK's New N.Ireland Trade Rules Will Not Break Law, Minister Says
Any unilateral move by London to override the treaty will inflame a simmering argument with the European Union.