10/07/2022
TPR to prosecute former adviser over pension loans
Under the 1995 Pensions Act and the 2005 Occupational Pension Schemes Regulations, certain employer-related investments made by an occupational pension scheme are prohibited.
Legal, Regulation & Compliance
10/07/2022
FCA fines Sigma Broking Limited £530,000 and bans and fines its former directors following market abuse reporting failures
Matthew Kent, a current director, has also been fined £83,600.
10/07/2022
Donelan trails Data Protection and Digital Information Bill rethink
“The current draft of the Bill is as complex and ‘one size fits all’ as the regime in force at the moment so, based on Donelan’s comments, more significant carve-outs for small organisations look likely to be proposed,” she s
10/07/2022
Scottish court confirms power of ADR decision makers
The judgement also indicates that how the terms of dispute resolution clauses in contracts are drafted can have a major impact on how the courts will interpret and enforce them.
10/07/2022
Regulation and Readiness Will Go Hand in Hand for European Banks in 2023
Both MiCA and DORA are expected to come to force in 2023.
10/06/2022
Consumer Duty - information for firms
Firms should also consider any work needed with other parties to prepare for the Duty and ensure their plan allows enough time for this.
10/06/2022
CSDR 'risks' divergence in clearing and settlement rules between EU and UK
In the meantime, there will likely be an element of complexity with assets settling in both CREST, the settlement system for markets in the UK and Ireland, and Euroclear, which settles and clears securities trades executed Industry Survey on European exch
10/06/2022
High Court gives guidance on interpreting single director company model articles
The model articles of association, which are set out in the 2006 Companies Act, are the standard default articles available for use by UK companies.
10/06/2022
Money mules are getting older – with serious penalties for those caught moving scam cash
In recent times the crime has most commonly been committed by younger people, with those under the age of 24 typically accounting for around half of all money mules identified.
10/06/2022
FCA warns cost of living crisis increases the risk of pension scams
As part of its campaign, the City watchdog is warning consumers of ‘misdirection’ tactics scammers are using to con people out of their pensions.
10/06/2022
Jon W. Harvey on how banking C-suites are adapting to AML change
“Promontory as a business unit within IBM is the advisory piece,” Harvey tells Consultancy.uk.
10/05/2022
Ariel Re Granted Approval for Lloyd’s Managing Agent
The new managing agency, Ariel Re Managing Agency, will assume the management of Ariel Syndicate 1910 together with SPA 6117 from Argo Managing Agency Ltd.
10/05/2022
Key Takeaways from the UK Regulatory Industry for Q3 2022
The new register will require anonymous foreign owners of UK property to reveal their real identities to ensure criminals cannot hide behind secretive chains of shell companies.
10/05/2022
Addleshaw Goddard: Financial Services & Banking News
The delay to the Feedback Statement publication will not impact the publication of the FOS's Plans and Budget for 2023/24, which will be published in December as normal.
10/05/2022
FCA publishes review of business interruption insurance claims handling
These key findings have been published to assist firms in their approach to handling all claims to ensure customers are treated fairly throughout the insurance claims process.
10/05/2022
UBS Hit with Another US Fine
Although UBS conducted annual reviews of its systems, it failed to identify the improper treatment of shares associated with long-selling activities by clients.
10/05/2022
FSCS claims 'taking longer' despite 'massively increased' resources
The advice firm which received this letter also showed FTAdviser a separate email, sent by the FSCS earlier this year.
10/04/2022
Addleshaw Goddard: Financial Services & Banking News
ADR legislation must reflect the need for redress mechanisms that are swift and uncomplicated in the context of digital markets.
10/04/2022
EBA assesses the market share of non-EU entities in the EU banking system and the dependency of EU banks on funding in foreign currencies
These findings reflect the high degree of openness of the EU economy within the global financial system.
10/03/2022
Mediation in England and Wales
Resolution of a dispute by agreement can save legal costs, and settlement also allows the parties to focus again on their business.