05/17/2022
US tops financial secrecy ranking as G7 countries upend global progress on transparency
The G7 countries’ undermining of global transparency has further fuelled calls by leading economists for a UN tax convention
Legal, Regulation & Compliance
05/17/2022
Carey Olsen wins equity deal of the year at IFLR Europe Awards
The awards showcase the leading law firms, lawyers and in-house teams and recognise their work on the most legally innovative and ground-breaking cross-border deals over the past year.
05/17/2022
Digital euro won’t usher out European banks – ECB’s Philip Lane
Unlike cash, the digital currency would exist only online and could be used to make payments between any digital platform without passing through a bank.
05/17/2022
Financial Services & Banking News
The EBA will submit the draft RTS to the European Commission for endorsement
05/17/2022
Linklaters advises commercial banks and the EIB
This financing, which closed in November 2021, marks the first time commercial lenders take limited-recourse construction risk on a floating offshore wind asset (worldwide first).
05/17/2022
Irish central bank lays down new rules for BNPL providers
The Act introduces an interest rate cap of 23% APR on all credit agreements provided to the consumer.
05/16/2022
‘Straw Owner’ Hides $1 Billion Worth of Russian Yachts
A US affidavit seen by Bloomberg News says a nest of offshore companies and a yacht broker helped obscure a superyacht’s true owner
05/16/2022
M&G promises platform improvements after adviser complaints
While the first two platform updates were not given a time stamp, paperless transactions are set to be in place by the end of this year.
05/16/2022
CII could face £2.5m tax bill after HMRC review
The assessment of the CII’s historic tax situation is still ongoing, but HMRC estimates the CII and PFS could face a £2.45m tax liability, latest accounts for the Institute show.
05/16/2022
Nucleus to cut platform charges
A source told FTAdviser some firms are on variable pricing structures, which is putting further pressure on the provider to consolidate pricing.
05/16/2022
Nucleus to cut platform charges
The idea is to bring all customers of Nucleus and James Hay to a similar pricing point.
05/16/2022
FCA plans major expansion of dormant assets scheme
The FCA is consulting on its proposals in CP22/9 until 17 June with the aim of publishing proposed new rules in July.
05/16/2022
FSCS investigating claims against Cavendish Incorporated
Neither Cavendish Incorporated nor Cottesmore Associates have ever been permitted by the FCA to provide regulated advice on investments.
05/15/2022
Insurance brokers: serving consumers and businesses in times of uncertainty and change
As brokers, you help consumers and businesses find the right insurance products they need, enabling them to safeguard against unexpected and unaffordable financial losses.
05/15/2022
FCA refuses authorisation to regulatory consultancy firm Alexander Jon Compliance Consulting Limited
The FCA refused the application to protect consumers from the risk of using a poorly overseen investment business.
05/15/2022
Legal professional privilege in the UK
It is also possible in certain circumstances to share privileged material confidentially with outside parties
05/15/2022
Commission welcomes political agreement on new rules on cybersecurity of network and information systems
The NIS 2 Directive also strengthens cybersecurity requirements imposed on the companies, addresses security of supply chains and supplier relationships and introduces accountability of top management for non-compliance with the cybersecurity obligations.
05/13/2022
Addleshaw Goddard: Financial Services & Banking News
The proposed directive will extend the application of certain rules in the CRD to financial services distance contracts.
05/13/2022
Herbert Smith Freehills Financial Regulation Daily Update
The updated Green Finance Strategy will take stock of progress so far and set out how the UK can better ensure the financial services industry is supporting the UK’s energy security, climate and environmental objectives.
05/13/2022
Swiss Government Unblocks Some Russian Assets
Since April 7, 2.2 billion francs had been newly reported while 3.4 billion francs blocked as a precaution, have been released.