10/17/2021
Adviser fined £116k by FCA for 'reckless and unsuitable' pension advice
The FCA found that Mr Hussein advised customers to switch their existing pensions when this was often unnecessary and not in their best interest.
Legal, Regulation & Compliance
10/17/2021
Financial Regulation : Daily Update
The changes affect financial counterparties and non-financial counterparties that are, or may become, subject to the DTO.
10/15/2021
Financial Service & Banking News
The market for cryptoassets is fast growing and consequently financial stability risks could grow further.
10/15/2021
European court rules companies cannot sue EU states over environmental laws
The case provides EU member states who wish to implement climate conscious policies a degree of security to continue those initiatives without the fear of arbitration from investors
10/15/2021
UK SFTR news
Read our news updates on the UK Securities Financing Transactions Regulation (UK SFTR).
10/15/2021
UK finalising scope of LIBOR legacy regime
The regulator confirmed the methodology it would require LIBOR’s administrator to use for these synthetic rates, which will no longer be representative of their underlying markets.
10/15/2021
Ashurst advises Generali
Global law firm Ashurst has advised Generali Investments Partners, the investment arm of Generali Group, in the establishment of its new Spanish branch.
10/15/2021
How share plans relate to European tech M&A and the digital skills shortage
The European Commission has said that 70% of businesses report a lack of staff with adequate digital skills as an obstacle to investment.
10/15/2021
UK Financial Conduct Authority Prohibits and fines Omar Hussein for pension Switching Failings
The FCA found that Mr Hussein advised customers to switch their existing pensions when this was often unnecessary and not in their best interest.
10/14/2021
Financial complaints data highlights need for firms to maintain robust controls
Complaints relating to affordability continue to feature heavily in the FOS’s caseload, together with a troubling, if not surprising, uptick in cases relating to fraud and scams.
10/14/2021
UK property developer tax: build to rent excluded
When the government consulted on the design of the tax in April, the consultation document said that the government was considering how to bring the development profits from BTR activity within the tax.
10/14/2021
Regulatory Squid Game? The stretched tentacles of UK merger control reform
The General Consultation proposes both jurisdictional and procedural amends that would apply to all firms across the economy.
10/14/2021
Macfarlanes Investment management update
Regulations that came into effect on 1 October 2021
10/14/2021
UK judge rules pension losses lawsuit should have happened in Gibraltar
The Castle Trust Group was formed over 20 years ago and has represented a range of clients including banks, quoted companies, wealthy individuals and pension funds.
10/14/2021
ICO response to DCMS consultation on reform of the UK's data protection regime
The ICO, unsurprisingly, emphasises maintaining current privacy standards and, on the issue of data transfers, underlines the importance of maintaining EU adequacy.
10/13/2021
Ogier in Guernsey advises Disruptive Capital
Disruptive is also the first SPAC on Euronext Amsterdam to be listed and traded in pounds sterling.
10/13/2021
FCA staff revolt over Rathi's transformation programme
Rathi’s attempt to communicate the benefits of the programme have reputedly failed to attract the support of staff, where formal communication events have attracted waves of criticism.
10/13/2021
Deutsche Bank faces €500m lawsuit in widening forex scandal
Spanish hotel group’s claim is tied to sale of exotic currency derivatives
10/13/2021
ESMA publishes Final Report on notification requirements for STS synthetic securitisations
The European Commission will now decide whether to endorse the draft technical standards
10/13/2021
Fraudulent European investment platform shut down
After it scammed victims out of at least €15m, which could ‘even amount to approximately €500m’