01/18/2022
Financial Regulation: Daily Update
The recent consultation sets out the HMG’s proposals for adapting the UK regulatory framework for CCPs and CSDs. Feedback is requested by 28 February 2022.
Legal, Regulation & Compliance
01/18/2022
Fraud suspect changes plea in £13.7m pension transfer case
After previously stating he was not guilty
01/18/2022
EBA confirms the continued application of COVID-19 related reporting and disclosure requirements until further notice
The EBA will continue to monitor developments and will further reassess the application of the Guidelines on an annual basis and will consider repealing the Guidelines in the future when the situation permits
01/18/2022
EBA publishes a Discussion Paper on its preliminary observations on selected payment fraud data under the Payment Services Directive
The preliminary patterns suggest that the regulatory requirements developed in relation to payment security are having the desired effect.
01/18/2022
ESMA publishes results of its assessment of systemically important UK Central Counterparties
ESMA’s findings will also provide important input to the European Commission’s decision regarding the extension of its temporary equivalence decision for UK-based Tier 2 CCPs in early 2022.
01/18/2022
FCA cancels 4 European firms post-Brexit permissions
European firms wishing to remain in the temporary permissions regime (TPR) need to meet the FCA’s standards to continue operating in the UK.
01/17/2022
KWM Advised Bayerische Vermögen Group
KWM has already been advising Bayerische Vermögen Group since the end of 2017
01/17/2022
Ashurst advises Bullfinch Asset AG on a joint venture with Impax Asset Management
The platform enables the bundling, financing, standardisation and management of sustainable building and facilities infrastructure.
01/17/2022
Grant Thornton and Pinsent Masons collaborate to support effective data sharing across financial services
The proposed Open Finance concept is much wider than Open Banking; affecting mortgage providers, consumer credit firms, investment and pension funds, as well as general insurers and intermediaries.
01/17/2022
FCA fined UK financial organisations £568m in 2021
“Lockdown, and the resulting dependence on digital services, has made it easier for criminals to impersonate legitimate services and scam consumers.
01/16/2022
Financial Services & Banking News
For the guidelines' purpose, transferability covers all the elements that will facilitate the transfer of an entity, a business line or a portfolio of assets, rights or liabilities to an acquirer (public or private company), a bridge institution or a
01/16/2022
Financial Regulation: Daily Update
This revised version reflects the changes to the regulatory framework for peer reviews introduced in December 2019
01/14/2022
Supervisory flexibility on the short selling indicator
We are putting in place temporary measures for the reporting of the short selling indicator in transaction reports while we consider changes to the UK transaction reporting regime.
01/14/2022
MIFIDPRU Remuneration Code
The MIFIDPRU Remuneration Code (SYSC 19G) applies to MIFIDPRU Investment firms.
01/14/2022
Financial Regulation: Daily Update
The new webpage sets out how the MIFIDPRU remuneration code applies; self-assessment templates and tables; reporting requirements; and disclosure requirements.
01/14/2022
Financial Services and Banking News
The PRA will engage with firms to assess the challenges that broad structural changes, such as increased digitalisation, are bringing to the sustainability of business models.
01/14/2022
Individual accountability and the SMCR: a portent of success for the FCA’s new Consumer Duty?
These similarities may predict that, after a period of upheaval and significant cost, the worthy objective of establishing a higher level of consumer protection in retail financial markets and, importantly for firms and customers alike, greater consumer t
01/14/2022
European Commission proposes directive to prevent misuse of shell entities in the EU
The draft directive would impose a new tax transparency obligation between tax administrations under the DAC.
01/14/2022
Cyprus: Legislative amendments intended to prevent tax abuse published
The laws do not indicate the effective date of application of WHT to jurisdictions added to or removed from each updated version of the EU black list.
01/14/2022
FSCS declares Swansea advice firm in default
The British Steel Pension Scheme scandal did not erupt until 2017.