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Legal, Regulation & Compliance

08/31/2022

The EIB backs Tapojarvi with EUR 18 million to reduce the environmental footprint of the steel industry

The project will also cover the initial testing and ramp-up phases to transform the slag into valuable by-products and reduce landfilling.

08/31/2022

Co-operative Bank ordered to refund mortgage ERC

Porting a mortgage is the process of taking an existing mortgage deal on the current property and transferring it to another home.

08/31/2022

Fast-track planning route to speed up major infrastructure projects

Major infrastructure projects such road improvements and offshore wind farms will be delivered more quickly through a new fast-track planning route.

08/30/2022

BSPS redress scheme likely to be challenged at court by campaigners

The group submitted evidence to the now concluded Public Accounts Committee’s inquiry into BSPS.

08/30/2022

Completion of BNP Paribas Jersey Trust Corporation Limited

This latest deal will bring additional scale and local expertise to ZEDRA’s already fast growing Jersey office.

08/29/2022

PRA and FCA conclude investigations into senior managers in relation to the 2008 failure of HBOS plc

The Authorities’ joint investigations considered the performance of certain former senior managers at HBOS in the years before its failure.

08/29/2022

Euro zone bond yields shoot up to two-months highs on hawkish ECB, Fed

Comments from Federal Reserve Jerome Powell, speaking at the Jackson Hole central banking conference in Wyoming, added to the unease in bond markets over rapidly rising rates to contain inflation.

08/29/2022

Andy Bell: Common sense failure risks good work on pension transfers

Pension scam protection is vital but some trustees are determined to only consider the ‘letter of the law’ and not to apply common sense

08/29/2022

Scots court issues ‘timely reminder’ on interpretation of terms in contracts

McLure remains a 40% shareholder in the company, which provides support services to the oil and gas industry.

08/26/2022

Insurance woman wins discrimination lawsuit against Swiss Re

Sommer says she was passed over for two managerial positions while she was on maternity leave, despite having more experience than those hired later.

08/26/2022

UK Online Safety Bill updated to require content to be assessed in context

In a separate factsheet, the government highlighted other new clauses it has added to the Bill, which are designed to enhance protections for journalism.

08/25/2022

Addleshaw Goddard: Financial Services & Banking News

The FCA are now seeking expressions of interest from external experts to join the Committee

08/25/2022

Germany plans new financial crime authority in bid to tackle money laundering

With the new authority, the finance ministry hopes to make it easier to tackle complex international money laundering cases, which have long been a weak spot for the country.

08/25/2022

FCA board approves final appointed rep rules

The final minor changes include reducing the pre-notification period from 60 to 30 days.

08/25/2022

FCA plans to broaden retail access to LTAFs ‘may not go far enough’

LTAFs are intended to help better manage the liquidity risk of long-term illiquid assets

08/25/2022

Dutch doing a better job fighting money laundering, international monitor says

FATF also praised the cooperation between various Netherlands agencies in detecting and fighting money laundering.

08/24/2022

ECB confirms sanctions on Crédit Agricole for classifying shares as CET1 capital without prior approval

The subsidiaries CACIB and CACF took a similar approach for three consecutive quarters.

08/24/2022

European Investment Bank’s €150 Million Retrocession and Undertaking Agreement With UniCredit Bank

The EGF is designed to support companies that are considered to have economic viability and would be able to meet the requirements of a lender or other financial intermediary for commercial financing.

08/24/2022

Bank of England may be forced to raise interest rates to 4% in 2023

City traders bet central bank will more than double cost of borrowing to combat soaring inflation

08/24/2022

UK FCA issues clarification on IFPR and SM&CR

This was to retain the definition in the FCA’s rules following deletion of the IFPRU sourcebook.

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