06/08/2022
Addleshaw Goddard Financial Services & Banking News
The updates reflect the feedback received to the consultation and include additional activities contributing to climate change mitigation.
Legal, Regulation & Compliance
06/08/2022
Pensions consumer journey
This Feedback Statement (FS) summarises the themes and sets out our response, ongoing workstreams and how we will use the feedback to inform future work.
06/08/2022
PS22/6: Preventing claims management phoenixing by financial services firms
We are introducing new rules for claims management companies prohibiting them from carrying out regulated claims management activity in certain circumstances.
06/08/2022
PwC fined £5mn over audits of London-listed construction groups
The penalties were reduced from £5.5mn and £3.35mn respectively in recognition of PwC’s co-operation
06/07/2022
Chancellor stresses confidence in UK economy's outlook
Stride referenced a recent report by the Bank of America that showed a steep drop in sentiment towards sterling in an investor survey.
06/07/2022
FCA and TPR rule out new pension saving regulations
It said the views gathered would inform policy making and be used to target any future regulatory interventions to improve consumer pension journeys.
06/07/2022
FCA pledges to get rid of phoenixing by CMCs within 2 years
At least 220 FSCS claims are submitted each year involving phoenixing connections between the firms submitting the claims
06/06/2022
Thousands of UK workers begin world’s biggest trial of four-day week
With work changed for ever by the pandemic, businesses are testing whether pilot represents a recognition that ‘the new frontier for competition is quality of life’
06/06/2022
Eversheds Sutherland Switzerland again recommended by Legal 500 for 2022
In their 2022 editions, the international independent law firm directory Legal 500 has again recommended Eversheds Sutherland Switzerland as top tier or leading firm in the following areas
06/06/2022
FCA struggles to lure diverse candidates for chair role
Figures disclosed to FN raise further concerns about the diversity of the talent pool for key public sector jobs
06/06/2022
Complexity around directors’ duties owed to Irish insurers
The duties which apply to an Irish director were codified in the Companies Act and were the subject of a lot of market commentary at the time.
06/06/2022
UK proposes measures to protect against the collapse of systemic “digital settlement assets”
Stakeholders have until 2 August 2022 to respond.
06/02/2022
Basel Committee progresses work on climate risk and crypto asset regulation
The Committee's agreement will not affect the classification of any banks as G-SIBs or the scores or bucket allocations of banks outside of the EBU.
06/02/2022
AIFMD Rapporteur proposes widening of ‘professional investor’ definition under AIFMD
These individuals do not currently fall within the definition of professional investor.
06/02/2022
Old dogs, new tricks: adapting central bank balance sheets to a world of digital currencies − remarks by Andrew Hauser
Given at Federal Reserve Bank of New York and Columbia SIPA Workshop on ‘Monetary Policy Implementation and Digital Innovation’, New York
06/02/2022
Addleshaw Goddard Financial Services & Banking News
This letter outlines the FCA's view of the key risks of harm in the DRSP portfolio
06/02/2022
Private equity industry like a Ponzi scheme, says Amundi CIO
One private equity firm will sell to another who is happy to pay a high price as they have attracted a lot of investors.
06/01/2022
Credit Suisse Employees Investigated over Mozambique
The documents, which were actually intended for the supervisory investigation, could now also be used in a criminal investigation
06/01/2022
FCA Review of AML failings at challenger banks
The use of innovative technology and non-traditional methods of identity verification (such as passport photo images and video selfies) have enabled customers to be onboarded quickly.
06/01/2022
Green investment scam duo found guilty
They took £37m from around 2,000 victims