11/21/2021
Advance drafts of legislative package from MiFID II/MiFIR review: What are the key points?
The amendments to MiFIR and MiFID II are the output of the MiFID II review.
Legal, Regulation & Compliance
11/21/2021
HSF Financial Regulation Update
The FCA has 40 working days in which to examine the applications for registration.
11/21/2021
Standard Chartered facing court case
Standard was hit by a further £900million fine in April 2019 for breaching the sanctions after a US investigation found it had been dealing with Iranian, Cuban and Sudanese individuals and entities.
11/21/2021
FCA confirms recognition of the revised FX Global Code and the Global Precious Metals Code
The FCA expects firms and individuals to consider both the spirit and letter of code provisions to make sure they fully meet ‘proper standards of market conduct’.
11/19/2021
Liechtenstein Confirms Probe into Lebanon’s Central Bank Governor
Salame has repeatedly denied any wrongdoing and said he had demonstrated that his wealth had been acquired before he took up his central bank post in 1993.
11/19/2021
Financial Regulation: Daily Update
Both consultations aim to ensure consistent supervisory practices with regard to the review and evaluation of investment firms under the Investment Firms Directive (IFD).
11/19/2021
CII offers guidance on safely using social media
The guide also flags it isn’t just what you write or photos you post that could cause you problems with insurance and personal finance professionals being encouraged to fact and source check any content they wish to share.
11/19/2021
Mandatory reimbursements for bank transfer scam victims under new plans
Large banks could also be required to publish their performance data in relation to bank transfer scams.
11/18/2021
Financial Regulation: Daily Update
The FCA expects that any new rules resulting from CP21/30 would could come into force in April 2022.
11/18/2021
FCA proposes ban on debt packager referral fees to protect consumers
The FCA has seen evidence of debt packagers appearing to have manipulated customers’ details so that they meet the criteria for IVAs/PTDs, and used persuasive language to promote products without explaining the risks involved.
11/18/2021
FCA: Debt packagers: proposals for new rules
If consumers do not receive advice which meets our standards, they may end up on unsuitable debt solutions.
11/18/2021
Financial Services and Banking News
The consultative document includes 18 high-level principles. Principles 1 through 12 provide banks with guidance on effective management of climate-related financial risks, while principles 13 through 18 provide guidance for prudential supervisors.
11/18/2021
UK government publishes guidance on security rules for tech takeovers
National Security and Investment Act 2021 give ministers power to halt M&As
11/18/2021
Frenkel Topping enters sixth joint venture
Ralli managing director Martin Coyne, lead partner Adrian Anderson and partner Stephen Fox, will act as directors of Ralli Financial Services alongside Frenkel Topping's group chief executive officer Richard Fraser
11/17/2021
IQ-EQ acquires U.S. outsourced compliance provider
Global Investor Services Group IQ-EQ deepens its U.S. foothold with strategic acquisition
11/17/2021
FCA confirms rules for legacy use of synthetic LIBOR rates and no new use of US dollar LIBOR
The FCA has confirmed it will allow the temporary use of ‘synthetic’ sterling and yen LIBOR rates in all legacy LIBOR contracts, other than cleared derivatives, that have not been changed at or ahead of end-31 December 2021.
11/17/2021
Financial Services & Banking News
The proposed changes are aimed at ensuring that the framework still addresses the key systemic risk intended by the FPC
11/17/2021
Linklaters - Launching new resources on financial crime risks in the art market
Regulators in Europe have already taken notice
11/17/2021
A Guide to Anti-Money Laundering for Digital Banks
Increased time spent living and working at home during the pandemic spurred many late adopters to embrace digital banking practically overnight.
11/17/2021
Calls for greater regulation of AI in the workplace
A final report produced by the All-Party Parliamentary Group on the Future of Work November 2021