08/02/2022
Addleshaw Goddard: Financial Services & Banking News
The Guidelines seek to ensure that all competent authorities granting this exemption follow the same harmonised approach
Legal, Regulation & Compliance
08/01/2022
NextGenerationEU: European Commission endorses positive preliminary assessment of Latvia's request for €201 million disbursement under Recovery and Resilience Facility
The Commission has thoroughly assessed this information before presenting its positive preliminary assessment of the payment request.
08/01/2022
FCA regulation boosts consumer protection in the funeral plans market
Regulation of the sector will bring higher standards and boost consumer protection.
08/01/2022
Fund managers urged to revisit distribution agreements over marketing
The new guidance provides clarification around where responsibility sits for ensuring that marketing communications comply with the requirements set out in the respective directives in cases where a third-party distributor, and not the fund manager itself
08/01/2022
EU court’s merger ruling signals increased gun-jumping risk for firms
The court found that the Commission has the power to review any merger that may raise significant competition concerns within the EU, even if the companies involved do not have activities in Europe – or the merger falls below the EU’s turnover
08/01/2022
ClientEarth case shows courts willing to scrutinise governments’ climate strategies
The UK’s current NZS includes a commitment to ensure that the UK will be powered entirely by clean electricity by 2035.
08/01/2022
BoE stats show worrying increase in consumer credit as cost-of-living strain takes hold
The cost of living crisis is clearly starting to hamper people’s ability to put money away for the future as it gets sucked up by increased prices.
07/29/2022
Addleshaw Goddard: Financial Services & Banking News
The FCA has also published its finanlised non-Handbook guidance to provide firms with the information they need to implement the duty.
07/29/2022
PIMFA welcomes extension of the Consumer Duty implementation timeline
Under the FCA’s revised timeline firms will have until 31 July 2023 to implement the Duty for new and existing policies – an extension of three months – and a further 12 months from then – until 31 July 2024
07/29/2022
FCA publishes Decision Notices for Carillion plc (in liquidation) and three of its former executive directors
The FCA has imposed a public censure on Carillion, rather than a financial penalty, given the firm is insolvent and in liquidation.
07/29/2022
General insurance pricing practices - amendments
Some of these rules also apply to insurers and intermediaries of other general insurance and protection products.
07/29/2022
Addleshaw Goddard: Financial Services & Banking News
Their unique qualities mean that many digital assets do not fit easily into traditionally recognised private property law categories or definitions.
07/28/2022
Burges Salmon named Best HNWI UK Law Firm 2022
At the Fintech Awards 2022, the firm has been named as Best HNWI UK Law Firm
07/28/2022
£13.7m boiler room fraudsters jailed
They persuaded 800 victims to invest in a fund involved in the buying and selling of properties
07/28/2022
The FCA’s Consumer Duty will lead to a major shift in financial services
It will set higher and clearer standards of consumer protection across financial services and require firms to put their customers’ needs first.
07/28/2022
Russian invasion of Ukraine: operational and cyber resilience
This guidance considers the pressure a protracted threat can have on firms’ systems, processes and workforce. I
07/27/2022
HMRC Announces Welcome Changes to the QAHC Regime
The regime is part of the UK government’s attempt to increase the attractiveness of the UK as a jurisdiction for asset management
07/27/2022
Bosses at City firms could face fines for failing to prioritise consumers
FCA’s new rules are expected to help reduce call wait times, end rip-off charges and make it easier to change investments
07/27/2022
London Data Charter is key to letting capital ‘recover and thrive’
Drafted by experts at Pinsent Masons and London First last year, the charter encourages signatories to become “a part of London’s data ecosystem” by sharing data.
07/27/2022
EIB Board, supported by the EU Commission, approves €1.59 billion of EU financial assistance for Ukraine
This relief package is part of the EIB Ukraine solidarity response prepared in cooperation with the European Commission.