01/28/2022
FCA extends complaints deadline for LCF investors
The City watchdog noted that complaints notified after this would only be accepted if there were exceptional circumstances for the delay.
Legal, Regulation & Compliance
01/28/2022
FSCS declares two advice firms in default
The FSCS declared the firm in default on January 25, 2022.
01/28/2022
ECB Banking Supervision launches 2022 climate risk stress test
The results will feed into the Supervisory Review and Evaluation Process (SREP) from a qualitative point of view.
01/27/2022
Financial Regulation: Daily Update
The statement requires position holders to report NSPs between 0.1% and 0.2% on the day of application of the 0.1% reporting threshold, even where they were entered into ahead of that date.
01/27/2022
All Flintshire Credit Union enters administration
All Flintshire Credit Union is a financial co-operative owned by its members.
01/27/2022
Transforming data collection
To address these issues, we have developed a joint transformation programme with the Bank of England.
01/27/2022
TPR firms that do not meet our expectations
If a TPR firm doesn’t meet our expectations, find out what actions we may take, depending on the circumstances.
01/26/2022
Carey Olsen tops legal adviser rankings in record year for Guernsey funds
The considerable dominance of Carey Olsen is a credit to our team's expertise and experience and reflects the significant commitment from our clients to domicile their funds in Guernsey.
01/26/2022
FCA’s approach to compromises for regulated firms
The proposed guidance is aimed at firms solely regulated by the FCA including those that are part of a dual regulated group, and firms that are dual regulated by the FCA and PRA from the perspective of conduct regulation.
01/26/2022
FCA publishes guidance consultation for firms who seek to limit their liabilities
The guidance we are consulting on should help firms understand our expectations and ultimately help firms to avoid proposing compromises that are unacceptable to us because they fail to provide the best possible outcome for consumers.'
01/26/2022
Financial Regulation: Daily Update
The FCA notes that it is seeing an increase in the number of compromises to deal with significant liabilities to consumers, in particular redress liabilities.
01/26/2022
Financial Services & Banking News
The technical standards aim to ensure that stakeholders are well-informed about institutions’ ESG exposures, risks, and strategies and can make informed decisions and exercise market discipline.
01/26/2022
UK banks push back over fraud worries in Covid loans
Executives fear being scapegoated after Lord Agnew criticised government officials’ ‘schoolboy errors’ in the scheme
01/26/2022
Financial regulatory family strengthen Wider Implications Framework
It builds on existing collaboration already in place and will give greater transparency for wider stakeholders.
01/26/2022
Changes To Luxembourg Reporting Requirements
The report must be submitted to the CSSF annually through the online e-Desk platform within six months of the financial year-end of the supervised entity.
01/25/2022
FCA: Pricing categories for application fees
This change was part of our consultation. We'll still be introducing that fee and will update you on our plans in due course.
01/25/2022
Financial Regulation Daily Update
In case the draft CDA criteria are adopted, the Platform has formulated specific recommendations on the disclosure obligations for corporations and financial products.
01/25/2022
New notification requirements for FCA regulated investment firms in groups
The notification needs to be made “immediately” on the relevant investment firm becoming aware of the notifiable change.
01/25/2022
How Can Financial Institutions Achieve Efficient Regulatory Reporting?
When the accountholders provide their information to a financial institution, they expect that the institution will use their information to comply with the law.
01/25/2022
Cyprus Beneficial Owners regime- Factsheet
To the extent that they are registered with the Department of Companies and Intellectual Property