07/21/2021
Increase in UK regulation of cryptoassets anticipated
As we improve our technology and capabilities, we will be able to identify and make better, faster judgements about harm.
Legal, Regulation & Compliance
07/21/2021
Financial Regulation: Daily Update
The work programme includes a data review and analysis which will take place over July to October
07/21/2021
The FCA and the Bank of England encourage market participants in a switch to RFRs in the LIBOR cross-currency swaps market from 21 September
This is to facilitate a further shift in market liquidity toward RFRs, bringing benefits for a wide range of users as they move away from LIBOR.
07/21/2021
FCA: Financial promotions quarterly data 2021 Q2
This data includes statistics about how we review and act on certain non-compliant financial promotions.
07/20/2021
UK FCA tackles ‘greenwashing’ fund mis-selling risks
Its findings will be helpful to firms challenging themselves to assess where regulatory systemic problems may exist within their operations.
07/20/2021
UK Financial Conduct Authority takes action against debt packager firms
Debt packager firms advise consumers on how to deal with their debts, often referring them to an Insolvency Practitioner or debt management firm, for which they receive referral fees.
07/20/2021
Vatican criminal trial to shed light on failed Carige bank takeover
Vatican prosecutors allege that Mincione bought a stake in Carige with embezzled money including funds raised from faithful Catholics and intended for the needy.
07/20/2021
ESMA Finds NCAs Imposed Sanctions of €8.4 Million for MiFID II breaches in 2020
Some differences persist in the way sanctions and measures are distinguished and identified for the purpose of reporting to ESMA.
07/20/2021
Danish pension firms censured for failure to ID money-laundering risks
The watchdog said that although the sector was generally considered at a low risk of being used for money laundering, not all pension products carried the same attached risks.
07/20/2021
UK 'batman' investor faces extradition to Germany in €125m tax fraud battle
German prosecutors last year reissued an arrest warrant for Virdee after he was apprehended in 2017 at Heathrow Airport and later released.
07/20/2021
FCA secures conditional resolution of proceedings against Park First and its senior management
The FCA brought proceedings against chief executive, Toby Scott Whittaker, director John Slater and a number of companies involved or connected to the Park First Scheme.
07/20/2021
Ireland Update – Central Bank of Ireland updates AML/CFT Guidelines for Financial Sector
The Updated Guidelines list a number of steps that the Board should take in order to meet the necessary standard of governance and oversight.
07/20/2021
Financial Regulation: Daily Update
The FCA may consult on proposals later this year to address the significant potential for harm through poor advice that the debt packager business model poses.
07/20/2021
FCA consults on post-Brexit divergence for PRIIPS regulation
This has led HM Treasury to confirm that the UK will diverge from EU PRIIPs regulation to better protect its consumers.
07/20/2021
Bill Kambas and David Stein featured in Business Insider list
Business Insider highlights their extensive experience advising wealthy families and business owners.
07/19/2021
Monitor Deloitte's UK leader lays down law on staffing
The diversity of work and steep learning curve of strategy and management consulting mean that it remains one of the most popular careers among graduates.
07/19/2021
The UK’s great bank account shutdown
They want banks to be more robust in monitoring transactions, large money transfers and payments to cryptocurrency sites, and have talked to them about how suspicious activity should be reported.
07/19/2021
Workstreams updates
This allows us to focus on other priority work, including defined benefit pension transfers work and the issues raised in the 2020 consumer investments Call for Input.
07/19/2021
New ESMA Guidelines For Fund Marketing Communications
The Guidelines have been issued in the context of the new EU regime on the cross-border distribution of investment funds
07/19/2021
The Law Commission Consultation paper: rethinking the identification principle?
The Law Commission previously reviewed the law in this area in 2010 and found that there was "no pressing need for reform of the identification doctrine"