07/13/2022
Addleshaw Goddard: Financial Services & Banking News
The first set of guidelines contain the minimum instructions that NCAs should provide to market participants for submitting their applications to them.
Legal, Regulation & Compliance
07/13/2022
MPs hit out at Government’s ‘chop and change’ economic plans and warn growth strategy lacks vision
The Treasury Select Committee urges ministers to tackle skills shortages made worse by long Covid
07/12/2022
Central Bank of Ireland overhauls QIAIF pre-submission process
Most QIAIFs are given fast track approval by the CBI, under which it authorises a QIAIF in 24 hours without reviewing the fund documents.
07/12/2022
Ashurst advises lenders on financing the acquisition of VINCORION
STAR Capital with headquarters in London was established in 1999 and is a private equity firm focused on building and developing businesses around strategic assets in Western Europe.
07/12/2022
Saffery Champness wins at eprivateclient Excellence Awards 2022
Recognising the efforts and initiatives of Saffery Champness across its offices in Guernsey and Switzerland, the judging panel noted the firm had “demonstrated many achievements over the past 12 months.
07/11/2022
FATF Compliance – EU Confirms no Additional AML-CFT Measures for Cayman
The EU will initiate steps to delist the Cayman Islands once FATF removes the Cayman Islands from its list of jurisdictions under increased monitoring.
07/11/2022
EU Cohesion Policy: more than €1 billion for Cyprus for economic and social development and a fair green transition in 2021-2027
Following adoption of the Partnership Agreement, the single operational programme and the Just Transition Plan for Cyprus, the EU will invest a total of more than €1 billion in the country between 2021 and 2027.
07/08/2022
FCA Identifies “Clear Rationale” for Regulating ESG Data and Ratings Providers
The FCA emphasised the increasing prevalence of providers and the potential harm from lack of regulation in this area.
07/08/2022
EU reaches agreement on European crypto asset regulatory rules
The rules are aimed at protecting consumers against some of the risks related to crypto assets investment and helping them to avoid fraudulent schemes.
07/08/2022
Greenwashing in the European financial services sector
Greenwashing is a form of marketing which conveys a false message because it provides misleading information as to the sustainability of a particular product or service.
07/08/2022
UK’s ‘unsustainable’ debt could reach 320% of GDP in 50 years, OBR warns
Taxes ‘must be raised to offset mounting cost of ageing population and falling fuel income’
07/08/2022
Solvency II: Striking the balance − speech by Sam Woods
Given at Bank of England Webinar
07/08/2022
How we paid compensation to customers of London Capital & Finance
LCF was an issuer of mini-bonds, which it stated it used to make loans to corporate borrowers to provide capital for further investment.
07/07/2022
Pimfa lays out ‘simplified advice’ regulatory framework
Pimfa highlighted the “limited” take up of streamlined advice services to date, which it said has largely been delivered through robo-advisers because advice firms are lacking confidence in delivering streamlined services.
07/07/2022
FCA clarifies approach to compromise arrangements
A compromise is an agreement between a company and its creditors which allows the company to settle its liabilities.
07/07/2022
Consumers struggling with rising prices urged to seek help
Those who get help find it useful. Eight out of ten (79%) people in financial difficulty who used debt advice would recommend it and 70% said it had been more helpful than they had anticipated.
07/07/2022
Addleshaw Goddard: Financial Services & Banking News
The guidance focuses on three types of compromise: schemes of arrangement, restructuring plans and voluntary arrangements and only relates to compromises in relation to liabilities.
07/07/2022
'Institutional greenwashing': MEPs back 'green' investment labels for fossil gas and nuclear projects
328 MEPs voted against
07/07/2022
Government proclaims Corporate Insolvency and Governance Act 2020 a success story
The report is part of the statutory review which must be carried out within three years of the measures coming into force.
07/06/2022
FCA further bolsters its leadership team as it expands its headcount
Roma Pearson has been appointed as the FCA’s Director of Consumer Finance, responsible for the supervision and policy development in the consumer lending sector.