12/27/2021
Bird & Bird advises Liberum
The placing was completed and the new shares admitted to trading on AIM earlier today.
Legal, Regulation & Compliance
12/27/2021
Beware of Investment Fraud - How to identify a potential fraud
Giambrone & Partners banking and financial fraud teams are witness to the same strategies that are employed time and time again to deceive novice investors into risking their money.
12/26/2021
Pension schemes granted judicial review of govt's RPI swap
In February, the schemes were granted an extension to the period in which they can consider filing for judicial review, following a request from the government to have more time to prepare its defence.
12/24/2021
Insolvency Service gains powers to investigate directors of dissolved companies
The legislation also rules out Covid-19 related changes as grounds for material change of circumstances business rate appeals.
12/23/2021
Craig Whyte appears at court for failing to provide key passwords for seized devices
The arrest is in relation to non-disclosure of key passwords for various laptops and phones, which were seized from him by a warrant issued under s176 Financial Services & Markets Act 2000 on the 18 April 2018.
12/23/2021
FCA publishes Decision Notice against hedge fund
This resulted in a sub-standard investment management service being provided to the external fund and its investors.
12/23/2021
Viola Money (Europe) enters administration
The application for the special administration was made by the FCA and follows requirements imposed on Viola on 14 December 2021, which required it to cease all regulated electronic money and payment services.
12/23/2021
Financial Services and Banking News
The proposed revisions would insert a new paragraph, 17.29A, dealing with completion of customer due diligence (CDD) by lenders.
12/23/2021
Reforms to insolvency regulation in Britain proposed
Currently, there is no firm-wide regulation of insolvency practice in Britain.
12/23/2021
Germany to explore digital justice tools for citizens
It delivers a prototype that has already been adapted to the needs of future users through user feedback.
12/23/2021
Swiss court confirms extradition of German ‘cum-ex’ fraud suspect
A Swiss court has allowed the extradition to Germany of Hanno Berger, a German banker accused of playing a key role in a years-long tax fraud.
12/23/2021
UK passes LIBOR transition legislation
The UK government hopes the rules will minimise disruption for contracts referencing one, three and six-month sterling and yen LIBOR for which the counterparties have not managed to agree to move to a replacement reference rate before LIBOR ceases at the
12/22/2021
5 Key Things to Know About FCA Authorisation Before 2022
As regulatory compliance experts, we’ve been in the business a very long time.
12/22/2021
10% depreciation notifications: further extension of temporary measures for firms
Since March 2020 we have adopted temporary measures on the requirement for firms to issue 10% depreciation notifications to investors
12/22/2021
FCA publishes final IFPR remuneration disclosure rules
The FCA has confirmed that disclosures made in 2022 which relate to the 2021 performance year
12/22/2021
Overhaul of UK financial promotions exemption regime proposed
The government said these changes included the development of the online retail investment market, price inflation, and pensions freedoms, which have eroded the value of the HNWI exemption thresholds.
12/22/2021
General insurance pricing practices - amendments
The rules, published in PS21/5 and updated in PS21/11, aim to improve the way insurance markets function.
12/22/2021
Daily Legal Update
Some proposals are to: revise the comparable compliance framework; expand ESMA's supervisory and crisis management toolbox; consider appropriate incentives for reducing the size of EU exposures to Tier 2 CCPs; and enhance cooperation with UK authorit
12/22/2021
PRA fines Metro Bank £5,376,000 for failing in its regulatory reporting governance and controls
The PRA has imposed a financial penalty on Metro Bank plc of £5,376,000 for failing to act with due skill, care and diligence in relation to the regulatory reporting of its capital position and for failings in its regulatory reporting governance, co
12/22/2021
Cash to crypto - asset class outlook for 2022
The stock market looks like the best game in town when it comes to delivering long term returns in excess of inflation.