03/28/2023
Financial Ombudsman Service publishes latest complaints data about individual businesses
We upheld 34% of complaints in the consumers’ favour, compared to 37% in H1 2022.
Legal, Regulation & Compliance
03/27/2023
HMRC publishes simplified VAT guidance for overseas sellers
HMRC has published new simplified VAT guidance for overseas sellers sending goods to the UK.
03/27/2023
L&G chief says UK levelling up policy is ‘failing’
Sir Nigel Wilson is pushing for policy change to encourage investment outside the capital
03/27/2023
Financial planning company fails
This is the second Ascot Lloyd-linked firm to be declared in default in as many months
03/27/2023
It’s not the plane, it’s the pilot - speech by Shoib Khan
Given at Westminster Business Forum policy conference
03/27/2023
UK unveils LTA protection changes in Finance Bill
AJ Bell says ‘devil is in the detail’
03/27/2023
Firms warned over diversity vagueness amid FCA clamp down
Deadline for first reporting on progress is next month
03/27/2023
Two West Midlands firms declared in default by the FSCS
Osborn Wealth Management and Newell Palmer Group
03/24/2023
Govt repays £300mn in state pension underpayments
This is an update on figures issued in November which showed 31,817 underpayments were identified and £209.3mn returned.
03/23/2023
Scottish case confirms legal proceedings exemption as possible defence for GDPR claims
The claim was dismissed by the court, as the claimant’s allegations against the employer were found to be “lacking in specification” and “irrelevant”.
03/23/2023
FINMA provides information about the basis for writing down AT1 capital instruments
Due to numerous enquiries about Credit Suisse’s capital instruments, so-called AT1 bonds, FINMA is providing information about the basis for writing down these instruments.
03/23/2023
EBA consults on amendments to the reporting on the Fundamental Review of the Trading Book
The planned amendments will provide the supervisors with the necessary data to monitor institutions’ implementation of the FRTB approaches and their compliance with the own funds requirements for market risk.
03/23/2023
Crestbridge gains depository services licence in Luxembourg
Crestbridge gained its fund administration licence in Luxembourg in 2019.
03/23/2023
New EU foreign subsidies regime will increase costs and complexity in M&A deals
If the Commission finds that the foreign contributions in question constitute subsidies which distort the EU market, it can adopt remedial measures.
03/23/2023
FCA places restrictions on advice firm
The client understood that his money would be paid into a bond with an interest rate of between 3.25 per cent and 4.25 per cent.
03/23/2023
Fos hikes compensation limit to £415k
The compensation award increase by the Fos is in line with prior increases by the organisation.
03/23/2023
Swiss National Bank raises rates, says Credit Suisse takeover prevented larger crisis
Swiss National Bank raises interest rate by 50 basis points
03/22/2023
Update on FCA Authorisations operating service metrics
Service metrics are a lagging indicator and so take time to show decisive improvement.
03/22/2023
The new simplified advice regime and the advice / guidance boundary review
This conference is therefore a great opportunity to speak to and hear from industry today on our next steps to making the UK financial services industry the best it can be.
03/22/2023
Government proposes new infrastructure levy on developments
The new levy will remove opportunities for negotiations between developers and local planning authorities.