02/26/2025
Court sets date for £64 million WealthTek fraud and money laundering trial
Mr Dance was charged in December 2024 with alleged misappropriation of £64 million of customer funds between 2014 and 2023.
Legal, Regulation & Compliance
02/25/2025
Travers Smith advises Brooks Macdonald Group plc on the sale of international subsidiary
The deal completed last week following necessary regulatory approvals.
02/24/2025
Payment fraud on the rise: Regulator pushing various initiatives to support clients and industry
With the rise of social media and advanced scamming techniques, banks are increasingly confronted with a type of fraud called Authorized Push Payments (APP).
02/24/2025
FCA finds vast majority of ongoing suitability reviews delivered
The review focused on delivery of suitability reviews as firms generally included these as part of their ongoing advice service.
02/21/2025
Blacktower Gibraltar settles long running disagreement with Gibraltar regulator
The GFSC imposed a reduced fine of £294,350 with ‘full cooperation’ from Blacktower
02/21/2025
Innovation in UK Financial Markets - shortening the settlement cycle – speech by Sasha Mills
Given at the UK T+1 Accelerated Settlement Market event, hosted by KPMG
02/21/2025
Number of counterfeit euro banknotes continues to be low in 2024
The likelihood of receiving a counterfeit is low, as the number of counterfeits is very small in proportion to genuine euro banknotes in circulation.
02/21/2025
CMA reaches settlement with banks in competition case
Banks agree to pay fines for past exchanges of sensitive information about UK government bonds.
02/20/2025
FCA welcomes the final report of the Accelerated Settlement Taskforce and supports the UK market’s move to T+1 settlement
On 6 February 2025, the Accelerated Settlement Taskforce published its final report recommending a detailed implementation plan for the UK to move to a T+1 standard for settling securities trades.
02/20/2025
The Prudential Regulation Authority’s approach to policy
The approach we consulted on in the CP was informed by the responses we received to the DP.
02/19/2025
UK money markets transitioning to a new monetary policy regime
Since the turn of the monetary policy cycle in 2023, money market funds have seen significant inflows, but we think the peak has been reached.
02/19/2025
Top European central bankers push for simpler banking rules
A ‘comprehensive analysis’ of the regulatory requirements could help ensure a ‘level playing field with other major jurisdictions’ the bankers said
02/19/2025
Striking the right balance: the ECB’s balance sheet and its implications for monetary policy
During this tightening phase, we used policy rates as the primary tool for setting our monetary policy stance, while normalising our balance sheet in a measured and predictable way.
02/19/2025
Substance, Tax Treaties and the UK Supreme Court in Royal Bank of Canada
The uncertainty that this can open up is considerable.
02/18/2025
FCA fines Mako for failings relating to cum-ex trading
Mako also failed to adequately apply the policies and procedures it did have in place.
02/17/2025
Nvayo Limited enters special administration
Nvayo is authorised by the FCA to issue electronic money (e-money) and provide payment services.
02/17/2025
Compliance costs Luxembourg banks over €500m annually: ABBL chair
The growth of Luxembourg’s private banking sector has been impressive, with assets under management rising to €628bn.
02/14/2025
Mishcon de Reya's Private Client lawyers ranked in ALM Private Client Directory 2025
The directory features the top 250 individuals chosen by their own peers within the private wealth industry.
02/14/2025
Joint EU-UK Financial Regulatory Forum
Both sides also noted the importance of continued cooperation in other areas, such as anti-money laundering and sanctions.
02/14/2025
FCA charges Hampshire-based independent financial adviser with multiple fraud offences
The firm provided financial advice on investments, insurance, and pensions, but was not authorised to hold or control client money.