08/04/2023
Addleshaw Goddard: Financial Services & Banking News
The revised section pertains to managing the risk of impersonation fraud.
Legal, Regulation & Compliance
08/04/2023
Linklaters advises AXA on its acquisition of Laya
It operates as a Managing General Agent with a highly digitalized platform and a strong direct distribution network, which makes Laya the sole point of contact for its customers through their healthcare journey.
08/04/2023
Money.co.uk reveals Brits lost £593 million through fraud in Q2 2023
This takes the total fraudulently stolen cash to almost 3 and a half billion pounds in the past 12 months.
08/04/2023
Financial promotions quarterly data 2023 Q2
This data provides an overview of how we are working to improve standards across the market so that consumers are provided with clear and fair financial promotions which are not misleading.
08/04/2023
De-banking: UK Chancellor Jeremy Hunt warns bank fines could be “very large sums of money”
Hunt says the issue of debanking is under an urgent review with firms potentially liable for fines
08/03/2023
The EBA updates guidance on reporting of Financial Soundness Indicators to the International Monetary Fund
This update takes stock of the additional experience gathered by the EBA with available data after the publication of the latest IMF FSI Guide in 2019.
08/03/2023
Monetary Policy Report - August 2023
Our quarterly Monetary Policy Report sets out the economic analysis and inflation projections that the Monetary Policy Committee uses to make its interest rate decisions.
08/03/2023
Advice Guidance Boundary Review
The review aims to ensure that consumers get the help they want, at the time they need it, and at a cost that is affordable, to help them make informed financial decisions.
08/02/2023
Home Office publishes new Statement of Changes to the Immigration Rules, effective from 17 July 2023
Only students on courses at degree level or above will be able to apply before course completion to switch to sponsored work routes, as long as their employment start date is not before their course completion.
08/02/2023
PFI dispute resolution forum could help ‘ensure quality of decisions’
The report said the forum could hold a database of fully accredited ‘PFI mediators’ and publish anonymised versions of adjudicative decisions to create a body of ‘PFI common law’.
08/01/2023
PRA’s approach to supervision of the banking and insurance sectors
They are designed to help regulated firms and the market understand how we supervises these institutions, and to aid accountability to the public and Parliament.
08/01/2023
EBA publishes its final amending technical standards on supervisory reporting to introduce new reporting on interest rate risk in the banking book
In addition, they aim at providing quality data to supervisors to monitor institutions’ IRBB risk and the implementation of the policy package published by the EBA in October 2022.
08/01/2023
Consumer Duty sets higher standards for financial services customers
The new rules, known as the Consumer Duty, set a higher standard of consumer protection in financial services.
08/01/2023
Boodle Hatfield achieves best financial results in its 300 year history
Over the last six years the firm has averaged an annual increase of 6% in revenue and a 12% increase in profit.
08/01/2023
Leeds-based advice firm fails after FSCS claim upheld
The claims are mainly mortgage endowment advice related.
08/01/2023
Consumer Duty: ‘most significant change’ to UK financial services regulation in a decade comes into force
The duty requires financial firms to act in good faith, avoid foreseeable harm and enable and support their customers to achieve their financial objectives.
07/31/2023
FCA secures Confiscation Order against convicted money launderer
The FCA will now contact the identified victims of Richard Faithfull’s offending to provide further information.
07/31/2023
EBA stress test proves Commerzbank's high resilience
The stress test assumed a static balance sheet based on the 2022 financial year and therefore did not take account of any current or future business strategies and management initiatives.
07/31/2023
FCA sets out 14-point action plan on cash savings
There has also been significant variance between firms, with smaller firms offering higher interest rates on average than their larger competitors.
07/31/2023
Addleshaw Goddard: Financial Services & Banking News
The next FCA board meeting is scheduled for 28 September 2023.