11/09/2020
Latvian regulator fines Regional Investment Bank for “irregularities”
It is not the first time the bank has been fined by the regulator.
Legal, Regulation & Compliance
11/09/2020
In the matter of the Arpettaz Settlement [2020] JRC 161
The introduction of so-called firewall provisions has, if anything, only reinforced that general position.
11/09/2020
Scottish Widows pulls half a billion from firms in ESG move
If the size and type of investment means Scottish Widows can influence positive change in their business models, the insurer may choose to stay invested and steer future direction instead.
11/09/2020
LV launches drawdown pathways
It will become mandatory for investment pathways to be offered to non-advised drawdown customers from February 2021.
11/08/2020
Covid-19: FCA issues tailored financial resilience survey for TPR and SRO firms
Completion is not mandatory for these firms, but the FCA encourages them to complete the survey.
11/06/2020
EBA launches consultation on revised guidelines on sound remuneration policies
The proposed amendments do not represent a substantive re-write, and instead merely reflect the changes that have been made to the remuneration provisions of the Capital Requirements Directive (CRD5).
11/06/2020
Former BHS owner jailed for six years for tax evasion
In sentencing, the judge said Chappell had engaged in a "long and consistent course of conduct designed to cheat the revenue".
11/06/2020
EU ‘blacklisting’ takes shine off Mauritius – report
European Commission says the island has ‘strategic deficiencies’ in its anti-money laundering and counter-terrorism financing regimes.
11/06/2020
Investment Firms Prudential Regime (“IFPR”) UK implementation – will you be ready ?
Firms should consider how prudential consolidation will apply and the way in which to meet any new requirements.
11/06/2020
Treasury confirms FSCS levy talks as MPs raise concerns
The letters, part of Financial Adviser's Keep Fees Fair campaign, highlight the problems arising due to escalating professional indemnity insurance premiums and a contraction in the market, in addition to eye-watering annual increases in the levy adv
11/06/2020
Danske Bank Fined US$1.4M for Misleading Customers
Vogelzang emphasized that all affected customers have been contacted, and that the bank has compensated more than 99 percent of them.
11/06/2020
Pensions risk transfer market resilient against Covid-19
Many pension schemes which had already substantially de-risked their investment strategy before Covid-19 hit have been able to continue to de-risk through bulk annuities and longevity insurance transactions.
11/06/2020
A new blueprint for financial regulation
HMT is proposing a new institutional framework for developing regulation in the UK.
11/05/2020
IFA jailed for £1.2m Ponzi scheme
Money was used to fund his ‘lifestyle and businesses’ and a ‘substantial’ gambling habit
11/05/2020
EU's Barnier says 'very serious' gaps still in Brexit trade talks
His UK counterpart, David Frost, agreed that “wide divergences remain on some core issues”.
11/05/2020
Worker and Social Cooperatives Reinforce Social Europe through Democratic Quality Work and Social Inclusion
CECOP reacts to a European Commission consultation on the European Pillar of Social Rights Action Plan, highlighting the crucial role worker and social cooperatives take to ensure the protection of social rights of their members by providing quality work
11/05/2020
FCA bans adviser trio jailed for sex offences
Russell David Jameson was an adviser at an authorised firm and approved by the regulator to hold influential and customer facing functions.
11/05/2020
EU ministers agree to set up EU anti money laundering body
The Commission is to present legal proposals to turn that agreement into reality in the first quarter of next year.
11/05/2020
Senior wealth management and financial advice figures gather for PIMFA’s virtual leadership summit
Among the subjects discussed were the Government’s view of the future of financial services regulation after the UK leaves the EU Single Market
11/05/2020
CMA blocks investment technology merger
The CMA has ordered FNZ to sell GBST after finding their completed merger could lead to a reduction in the quality of service and higher prices.