02/08/2023
British steel pension scheme misleading offers - update
Under the scheme firms will have to review the advice they gave and pay redress to those who lost money because of unsuitable advice.
Legal, Regulation & Compliance
02/08/2023
Addleshaw Goddard: Financial Services & Banking News
The most recent statement confirms that the FCA will publish its final rules for cryptoasset promotions once the relevant legislation has been made, and that it expects to take a consistent approach to cryptoassets to that taken in its new rules for other
02/08/2023
The Bank of London scores $40 million Series C extension
The Bank of London operates on three fronts: taking on established banks in the market for clearing and settlement; delivering transactions banking services for the corporate market; and fielding a banking-as-a-service offfering for companies wanting to e
02/08/2023
Addleshaw Goddard: Financial Services & Banking News
As opposed to crypto assets and stable coins, a digital pound would be issued and controlled by a central bank, rather than by the private sector, meaning it would sit alongside cash rather than replacing it.
02/07/2023
Turning Points and Monetary Policy Strategy
Speech by Catherine L. Mann
02/07/2023
NFTs ruling shows courts ahead of legislators on question of crypto property law
The NFTs are said to confer benefits on the holder, including access to exclusive virtual events, and are said to be worth between £3,000 and £5,000.
02/07/2023
PIMFA calls for Financial Conduct Authority to have greater role in protecting public from fraud
It is vital that the public is protected from online fraud, and the devastating impact it can have on people’s lives.
02/07/2023
GIC slashes investments with H2O Asset Management after regulatory sanctions
The French fund manager managed $4.19bn of assets on behalf of sovereign wealth funds, according to the company’s last year US regulatory filing.
02/06/2023
Mayer Brown advises Crédit Agricole wealth management arm, Indosuez, on acquisition of majority stake in Wealth Dynamix
The operation supports Indosuez’s innovation focus as well as strengthening Azqore's position in the outsourced banking services' sector.
02/06/2023
Financial watchdog blocks thousands of misleading ads
The FCA has made significant improvements to the digital tools it uses to find problem firms and misleading adverts.
02/06/2023
FCA supports firms through the transition to implementing the Consumer Duty
Putting good outcomes for customers at the heart of firms’ strategies and business objectives will build trust and modernise how we regulate financial services.
02/06/2023
Swiss authorities open criminal probe into bank data breaches
Authorities launch investigation into last year’s leak of the details of 18,000 accounts at Credit Suisse
02/06/2023
Proposed amendments to SRA standards and regulations
The amendment specifies that bills and notifications of costs must be for costs that have already been incurred.
02/03/2023
Financial watchdog proposes to ban debt packager referral fees to protect consumers
Following analysis of the feedback the FCA received to that consultation, it decided to gather some additional evidence from the debt packager market to supplement its existing evidence base.
02/03/2023
Financial Services & Banking News
The FCA consultation also sets out new perimeter guidance to clarify when the regulated activity of debt counselling could be being carried out by unauthorised lead generators.
02/03/2023
FCA clamps down on financial promotions
The Financial Conduct Authority (FCA) required authorised firms to amend or remove 8,582 promotions during 2022. That is 14 times more than 2021, a report published today (3 February) shows. In 2021, the regulator required authorised firms to amend or r
02/03/2023
Nexus flagged by Nucleus and 7IM over ad hoc fees
On Companies House, chief executive Kerry Nelson is listed as the only active director at Nexus Independent Financial Advisers Limited.
02/03/2023
FCA cracks down on fraudulent promotions
The UK regulator aims to instate harsher limitations for financial promotions to deter unauthorised ‘fin-fluencers’ that are taking advantage of consumers.
02/02/2023
UK government proposes statutory dismissal and re-engagement code
The code recognises that dismissal and re-engagement is a lawful strategy for changing employee terms and conditions where there is a real business need to do so.
02/02/2023
ESMA publishes data for the systematic internaliser calculations
Investment firms are required to perform the SI test by 15 February 2023.