04/08/2022
Cayman freezes US$7.3 billion in Russian assets
These amendments include new financial, trade, and maritime measures, and restrict specified financial services with the Russian Central Bank and other Russian Federation agencies.
Legal, Regulation & Compliance
04/08/2022
Zeidler Group announces registration of UK MiFID firm in Luxembourg
“As investment management firms increasingly look to develop their business through new distribution channels"
04/08/2022
Russian sanctions: the impact of UK, EU and US sanctions for UK and EU businesses
New sanctions are coming into force and existing sanctions are being amended without notice or often with no or little lead in time to comply.
04/08/2022
Germany: Government approves draft bill reducing interest rate on late tax payments/refunds
The draft bill still must go through the legislative process and be approved by the upper and lower houses of parliament.
04/08/2022
FSCS declares BSPS advice firm in default
The FSCS told FTAdviser it had received two claims against the firm so far, both of which are for pensions advice.
04/08/2022
Financial Services & Banking News
The response confirms that it intends to proceed with the reforms.
04/07/2022
DWP made further six state pension errors since 2007
Webb said an error was made in the way these payments were uprated.
04/07/2022
Herbert Smith Freehills Financial Regulation: Daily Update
The PSR opened the investigation in October 2017 and concluded it on 18 January 2022.
04/07/2022
The levy on advice firms as a percentage of the Fos’ total levy will be 2.34 per cent, up from 1.9 per cent this year.
It hopes this will protect consumers from potential fraud, poor treatment and create a better market.
04/07/2022
Advisers face 5.2% FCA fee hike to £86.5mn
The regulator also justified the advice firm fee change, suggesting that between 2021/22 and 2022/23 the number of advice firms under its watch will decrease from 12,301 to 11,901.
04/07/2022
Tax cut worth up to £1,000 for half a million small businesses starts today
Nearly half a million UK businesses will benefit from a tax cut worth up to £1,000 from today (6 April 2022).
04/07/2022
Employer Compliance – Reporting Employment Related Securities
A penalty of up to £5,000 can also be charged for a material inaccuracy in an ERS return which is not immediately addressed and resolved.
04/07/2022
Fitness and Probity Notice: Bringing New Retail Credit Providers in Scope
The Notice outlines proposals to expand the scope of the Consumer Protection Code 2012
04/06/2022
BBVA closes a deal with Merlin to buy back 662 branches
BBVA has agreed to pay 1.99 billion euros for 100% of the shares of Tree Inversiones Inmobiliarias
04/06/2022
Russian invasion of Ukraine: operational and cyber resilience
The Centre for the Protection of National Infrastructure (CPNI) encourages all firms to review any of their existing risk assessments that address insider threat.
04/06/2022
How the EBRD is supporting PPPs in Greece
It has supported public-sector clients in preparing PPPs in different countries, with complex documentation requirements and tender processes, and has also financed some of the private tender winners.
04/06/2022
Carey Olsen advises Blue Noble on launch of fourth European real estate fund
The Carey Olsen team advising Blue Noble was led by Jersey corporate partner Chris Griffin, assisted by associate Thomas Bulfin.
04/06/2022
Financial Services & Banking News
The Government will further deliver a Financial Market Infrastructure (FMI) Sandbox which will help firms to experiment and innovate and they will also establish a new Cryptoasset Engagement Group as a high-level industry group which will guide government
04/05/2022
Board of Governors vote for firm action against Russia and Belarus
The EBRD is also ready to support all its countries of operations to deal with the consequences of the war and its economic impact.
04/05/2022
Fighting history: monetary policy and flattening yields
The war in Ukraine has created a commodity shock that has intensified inflationary pressures, accelerating the need for monetary policy to respond.