07/01/2022
FCA resolves High Court proceedings in relation to unauthorised deposit taking
The FCA sought orders to stop the activities continuing, to freeze up to £1.3m in assets, declarations of breaches and the return of money to victims.
Legal, Regulation & Compliance
07/01/2022
Finding opportunity in a world of uncertainty
This new Consumer Duty expects firms to not just prevent harm, but to show that they are actively trying to meet their customers’ needs – in product design, in how products are described and sold and in post-sale customer service.
07/01/2022
EU – New Zealand Trade Agreement: Unlocking sustainable economic growth
Bilateral trade is expected to grow by up to 30% thanks to this deal, with EU annual exports potentially growing by up to €4.5 billion.
06/30/2022
Charities warned to expect extra scrutiny from the public during the UK cost-of-living crisis
As a result, the financial management of charities is likely to be the subject of intensified public and media attention as society faces “one of the toughest economic climates in a generation”.
06/30/2022
Ministers unveil reforms to UK’s anti-money laundering regulations
Pencheva said: “This requirement is a quasi-‘change in control’ process for cryptoasset firms."
06/30/2022
EBRD offers new funds to Kazakhstan’s Bank CenterCredit
The loan will be supported by grant funds from the EU Investment Facility for Central Asia under the Regional Small Business Programme for Central Asia.
06/30/2022
FCA warns adviser ties with lifetime lenders leads to ‘conflict of interest’
Lenders relying on intermediaries should have “clear policies” and be able to evidence the due diligence carried out at the outset of any relationship, the FCA said.
06/30/2022
Gloucestershire firm appoint six new invested directors
The new team will be bringing over 80 combined years of legal and marketing experience to the table as well as fresh, new ideas on the direction of WSP Solicitors work in the county.
06/30/2022
12 French banks taken to court for not reimbursing fraud victims
Consumer group accuses banks of too often placing the blame on clients over frauds when they are not at fault
06/29/2022
BoE is being a reckless parent
At a time of rising consumer indebtedness, removing any affordability criteria is not a move to be applauded.
06/29/2022
Simplification of UKCA product marking process ‘cautiously welcomed’
The new mark covers most goods which previously required the ‘CE’ marking and reverse epsilon markings that are applied to products in the European Union.
06/29/2022
UK Building Safety Act’s impact on defective premises claim limitation periods
The reform, one of the most controversial aspects of the BSA, will require businesses in the construction industry to review their positions under the new regime.
06/29/2022
FSCS chief: 78% of claims linked to advice as compensation rises
Rainbird explained that a key priority for FSCS is reducing instances of consumer harm, arguing that it is impossible to ignore the part that financial advice plays in it.
06/29/2022
FCA sees 'clear rationale' for regulatory oversight of ESG data providers
Mixed feedback on UK green bond standard
06/28/2022
FCA places restrictions on IFA over unauthorised fees
The City watchdog said the firm has the right to make written or oral representations to the FCA on the first supervisory notice and the right to make a reference to the upper tribunal.
06/28/2022
Decision by the Swiss Federal Criminal Court
Generating compliant business growth in line with legal and regulatory requirements is key for Credit Suisse.
06/28/2022
The Bill of Rights Bill: an overview
The Bill confers no new rights.
06/28/2022
Report provides insight into first three months of UK’s new national security and investment regime
Under the 2021 National Security and Investment Act (NSIA), businesses and investors must notify the government of certain ‘notifiable acquisitions’ that relate to 17 sensitive areas of the economy.
06/28/2022
83% of pension transfer requests raise red flag warnings
Rates have now grown for the last five consecutive months
06/28/2022
The Fry Group to Join Progeny
The deal will see our team of 191 employees across our UK and overseas offices become part of the Progeny team.