04/13/2023
Swiss Re shareholders approve all proposals at 2023 AGM
Shareholders approved the re-election of Sergio P. Ermotti as the Chairman of the Board of Directors.
Legal, Regulation & Compliance
04/13/2023
British Steel pension redress scheme legal challenge dropped
This challenge has, in our view, been pursued unreasonably with little intention to go to trial so we are also pleased BSAG has agreed to make a substantial contribution to our costs.
04/13/2023
PRA fines the former Chief Information Officer of TSB Bank plc for a breach of the PRA’s Senior Manager Conduct Rules
The PRA has fined Mr Carlos Abarca, the former Chief Information Officer of TSB Bank plc, for breaching PRA Senior Manager Conduct Rules.
04/13/2023
'DWP must ensure small pension pots disruption is in savers' best interest'
Each of these options could consolidate small sub £1,000 pots but either of the proposed small pots solutions has the potential to consolidate much larger pots, potentially until savers have only the active pot.
04/12/2023
FCA orders WealthTek Limited Liability Partnership to cease operations as High Court appoints Joint Special Administrators and arrest made
The FCA is in close contact with the Joint Special Administrators and further information will be made available by them in due course.
04/11/2023
FCA and ASA team up with Sharon Gaffka to warn fin-fluencers of risks of promoting illegal ‘get rich quick’ schemes
Influencer agents and the Influencer Marketing Trade Body will be invited by the FCA to an open roundtable discussion on illegal financial promotions.
04/06/2023
Employer Compliance – Spring Statement 2023 update & Reporting Employment Related Securities
Currently employers are required to notify HMRC within 92 days of grant – a deadline which can easily be missed but which HMRC take very seriously.
04/06/2023
Bank of England split on future path of rate hikes
Huw Pill and Silvana Tenreyro
04/06/2023
FCA business plan highlights need for stronger government action on scams
The Online Safety Bill is a first step to tackling scams
04/06/2023
FCA sets clear plan for next 12 months
The FCA’s strategy is designed to be flexible and with the changing economic picture, the FCA is accelerating its work in 4 areas over the next year through further investment and increased resources.
04/06/2023
Four individuals face fraud charges
Two of the defendants were remanded in custody and 2 of the defendants on conditional bail ahead of first appearance at Southwark Crown Court on 2 May 2023.
04/05/2023
Central Bank Updates its Q&A on Digital Assets for QIAIFs
The revised Q&A does not change the Central Bank’s position in relation to retail investor alternative investment funds
04/05/2023
Vontobel cuts lines to customers in Russia
The implementation of the medium-term strategy 2022 to 2024 will be pursued consistently.
04/04/2023
PRA Regulatory Digest - March 2023
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
04/04/2023
Outlook for the euro area economy and financial stability
Introductory remarks by Luis de Guindos, Vice-President of the ECB, at the 34th edition of “The outlook for the economy and finance”, organized by the European House – Ambrosetti
04/04/2023
Edinburgh Reforms: HM Treasury and the UK regulators launch the review of the SMCR
HM Treasury indicates in the Call for Evidence that these are topics selected on the back of feedback from the industry and various reviews.
04/04/2023
PRA censures Wyelands Bank Plc for breaching Large Exposure limits and failings in its governance, controls and risk management
The PRA has censured Wyelands Bank Plc for wide-ranging significant regulatory failings between 21 December 2016 and 28 May 2020
04/03/2023
Swiss remain calm as Europe rages over retrocessions
Citywire has drawn views from its editorial teams in Switzerland, France, Spain, Italy, and Germany to understand how this subject is perceived within the EU.
04/03/2023
Swiss prosecutor probes UBS takeover of Credit Suisse
Brokered by regulators
04/03/2023
No firms charged with ‘failure to prevent’ tax evasion in 6 years – here’s why
The HMRC spokesperson claimed the 2017 laws had already achieved “success” in driving a “corporate culture shift towards anti-tax evasion awareness and procedures”.