10/31/2022
The role of the FCA in a changing regulatory landscape
Upfront effort from firms in implementing the Consumer Duty should mean fewer new rules down the line.
Legal, Regulation & Compliance
10/31/2022
FCA publishes notice of decision to cancel Umuthi Healthcare Solutions’ shares
The company was also in an ongoing, extended public dispute with individual investors as to the existence of certain shares.
10/31/2022
Delays to the UK’s access to EU scientific research programmes: status and next steps
Association to Horizon Europe is the closest form of cooperation with non-EU countries and allows entities of associated countries to participate in programme actions on broadly equal terms with entities of EU countries.
10/31/2022
The Swedish FSA continues investigation into Swedbank IT-incident
Swedbank has taken forceful measures to prevent this from happening again.
10/31/2022
Convicted LIBOR rigger Tom Hayes has US charges thrown out
Served over five years
10/31/2022
Germany temporarily relaxes insolvency law
The new rules will be implemented by the previous Covid 19 Insolvency Suspension Act
10/31/2022
ECB move to restrict bank subsidies to cost AIB and BoI up to €100m
European Central Bank to change terms of cheap loans to European banks
10/28/2022
Conister Bank applies for UK branch banking licence
This application is a significant milestone in our banking subsidiary’s UK expansion strategy.
10/28/2022
Addleshaw Goddard: Financial Services & Banking News
The Prudential Regulation Authority has published a statement on the Regulatory treatment of retail residential mortgages provided under private mortgage insurance schemes with similar contractual features to MGS.
10/28/2022
Authorised and recognised funds
Investment funds that are structured as collective investment schemes (CIS) must be authorised or recognised by us to be promoted to retail investors in the UK.
10/27/2022
Government sources reportedly say scheme is ‘dying’
But the government expects to make less than half by the end of this year – around €30m – and even less in 2023, with a forecasted revenue of €20m.
10/27/2022
Building Bridges: the COP31 lobby in Switzerland
If Switzerland hosts the COP in 2026 there will be an opportunity to create a more reasonable format that is adapted to environmental constraints and to have an agenda that focusses on themes where Switzerland has particular expertise.
10/27/2022
Value of lost pension pots hits £26.6bn
Figure has nearly doubled since 2018
10/26/2022
FCA greenwashing proposals important step to tackle 'lazy' ESG labelling
The lazy labelling of investment products as ‘ESG’ has not been helpful of late and has caused increasing confusion both to consumers and across the industry.
10/26/2022
Harlequin: the jester may be in jail but the joke isn’t over
Over 8,000 investors deposited almost £400m -mainly through Sipps – into off plan Caribbean hotel and similar properties.
10/26/2022
Regulatory treatment of retail residential mortgages provided under private mortgage insurance schemes with similar contractual features to MGS
Statement on the regulatory treatment of retail residential mortgage loans under private mortgage insurance schemes with similar contractual features to the Mortgage Guarantee Scheme
10/26/2022
Ogier in Luxembourg ranked "excellent" in Leaders League 2023
The international rating agency has also ranked Ogier "highly recommended" for banking and finance
10/26/2022
Addleshaw Goddard: Financial Services & Banking News
This consultation sets out the core elements of the regime, initially focusing on UK-based funds and portfolio management.
10/26/2022
FCA proposes new rules to tackle greenwashing
There has been growth in the number of investment products marketed as ‘green’ or making wider sustainability claims.
10/26/2022
FCA launches discussion on competition impacts of Big Tech on financial services industry
This is vital when we consider the role of Big Tech firms in the provision of key technological infrastructure like cloud services.