01/25/2023
FCA Consumer Duty review shows industry cannot let up on implementation plans
Time is ticking in terms of getting processes and actions in place and this review highlights that as an industry we cannot take our foot off the gas.
Legal, Regulation & Compliance
01/25/2023
FCA accuses three money transfer firms of price fixing
The Competition Act 1998 prohibits agreements, practices and conduct that may damage competition in the UK.
01/24/2023
Treasury confirms it was warned about Safe Hands ahead of collapse
The collapse came after around 46,000 people paid as much as £4,195 each to Safe Hands before it went bust.
01/23/2023
Ninth UK advice firm fails in 2023
FSCS has already received eight claims against the company – but five have been rejected
01/23/2023
DORA new security incident management rules for financial services
The European Supervisory Authorities (ESAs) will have a significant role to play incident management.
01/23/2023
Mourant named overall leading funds adviser in Jersey for another year
Mourant has secured the overall top spot in the rankings for serviced and distributed funds, advising 939 investment funds.
01/23/2023
European Central Bank to raise deposit rate to 3.25% by mid-year - Reuters poll
Prices rose 9.2% in December from a year earlier, official data showed last week.
01/20/2023
Esma consults on post-trade transparency
ESMA sent a positive opinion on the latter regulatory technical standards at the end of 2022.
01/20/2023
Advice firm surrenders licence just two years after launch
The business was set up by Rob O’Connor and Chris Connor.
01/20/2023
Addleshaw Goddard: Financial Services & Banking News
The publication will be of particular interest to banks, private equity firms, asset managers, owners and mortgage real estate investment trusts
01/19/2023
France’s pension reforms strike at a taboo
The proposal would increase the age that a worker is eligible for a full state pension by three months each year, starting in September 2023, through 2030.
01/19/2023
UK building safety ‘detail and guidance’ anticipated in 2023
The government has launched a consultation to support the continuous improvement of ‘Approved Document B’ (ADB), which contains fire safety guidance.
01/19/2023
Zurich convertible bond boutique receives Finma licence
Arve Asset Management has also taken over the fund manager role at Mobilitas Global Convertible Fund and renamed the fund.
01/19/2023
FSCS pays £66mn on GPC claims as administration extended again
Under the Insolvency Act 1986 the period of an administration automatically comes to an end after 12 months unless extended.
01/19/2023
Aegon Extraordinary General Meeting approves combination of Aegon’s Dutch businesses with a.s.r.
The reduction in IFRS shareholders’ equity will not impact Aegon’s solvency ratios or capacity to pay targeted dividends.
01/18/2023
UK legislates for minimum service levels during strike action
The government has said it is introducing the legislation “to ensure that striking workers don’t put the public’s lives at risk and prevent people getting to work, accessing healthcare, and safely going about their daily lives”.
01/18/2023
Finma License Gives Arve Asset Management a Boost
Managing director Michel Fest said the company can now celebrate the two important milestones with the Finma authorization and the acquisition of the fund.
01/18/2023
EU bid to ban financial product commissions faces resistance
Some worry the move will restrict access to financial advice across the bloc
01/18/2023
Michael Nascimento sentenced for failing to pay confiscation order
Members of the public were cold-called and subjected to high-pressure sales tactics to persuade them to buy shares in a company that owned land on the island of Madeira.
01/18/2023
German Authority and EU Bodies Target "Dark Patterns" in Trading Apps and Online Interfaces
In addition, other existing and upcoming EU legislation restricts the use of dark patterns and applies to businesses beyond investment firms.