08/09/2019
Clients of collapsed wealth manager charged 20% in fees
In its DFM business it allegedly promoted high-risk bonds to retail investors, which the FCA said was not in their best interest.
Legal, Regulation & Compliance
08/08/2019
Commerzbank Decides to Lift Loan Provisions due to ‘worsening’ Economic Conditions
It is a problematic time for the German economy, and such a warning from one of the nation’s biggest banks must come as a warning for policymakers.
08/08/2019
Conman Mark Acklom pleads guilty to £300,000 fraud
Acklom had been due to stand trial this week for taking more than £750,000 from Ms Woods but changed his plea to guilty at the last minute after admitting to taking a smaller sum.
08/08/2019
Towards A Single European Market On Private Pensions – The Pan-European Personal Pension Product
This is not expected to be the case before the end of 2021, however, it is important for possible PEPP providers to start thinking about the way in which they can tailor and market PEPP products to suit their business models.
08/08/2019
The unintended consequences of RDR – Verona Kenny of 7IM reflects on the legislation
Deeply unpopular among advisers, the legislation was meant to provide some much-needed assurances and clarity to the public around just what they were paying for, and in making advisers more directly accountable to their clients.
08/08/2019
ABN Amro flags possible money laundering fines in latest blow to shares
AS was forced to pay a record $900 million fine in September for failing to spot criminal activities financed through its accounts.
08/08/2019
SFO Tells Corporations How to Cooperate in Ongoing Investigations
The office investigates high-level corruption, bribery and fraud in England, Wales and Northern Ireland.
08/08/2019
Italian tax authorities ask for information on UBS clients
The bank is facing two separate investigations in Italy and a court case in France over allegations it enabled cross-border tax cheats to hide assets in Switzerland.
08/08/2019
Hargreaves Lansdown shrugs off Woodford woes with full-year asset jump
Market gains added a further 400 million pounds.
08/08/2019
Carey Olsen advises Ulster Bank
Silver Stream is one of the largest independent providers of residential care for older people in Ireland
08/08/2019
ABN Amro flags possible money laundering fines in latest blow to shares
The results are a side issue here”, KBC Securities analyst Jason Kalamboussis said, highlighting potential money laundering fines and further fallout from the investigations.
08/08/2019
National Crime Agency launches new Unexplained Wealth Order
The court was told the woman had suspected links to alleged paramilitary criminals, linked to the smuggling trade, and was asked to explain how she purchased six properties worth GBP 3.2 million, in what is only the fourth order of its kind.
08/08/2019
Invesco hits back after accusation over bail out
The report alleges Mr Barnett "bailed out" Burford Capital after one of the firm's investments went wrong.
08/08/2019
Skandinaviska Enskilda Banken v Conway: unjust enrichment or an unjust outcome?
SEB’s argument was rejected at first instance and by the Court of the Appeal.
08/08/2019
The Charity Commission's Revitalising Trusts programme aims to redirect funds from inactive charities to community foundations
Charities can seek assistance from UKCF or the Commission to discuss these options.
08/08/2019
FCA and TPR campaign: Pension scams
FCA and TPR join forces to warn pension savers as part of latest ScamSmart campaign
08/08/2019
Kleinwort appears at Tribunal in unequal gender pay claim
Kleinwort Hambros has appeared at an employment tribunal facing a claim of gender discrimination over an employee's pay.
08/07/2019
Wealth manager in administration after FCA intervention
Following solvency advice the directors of SVS decided to place the company into special administration, the FCA said.
08/07/2019
NHS pensions for senior clinicians: new changes announced to improve care
The Department of Health and Social Care will open a new public consultation proposing full flexibility over the amount senior clinicians put into their pension pots.
08/07/2019
The AML Compliance Officer in a World of Heightened Risk
In a climate of heightened risk, alongside severe penalties and enforcement actions, the appointment of the Anti-Money Laundering Compliance Officer, with the right level of expertise and institutional support, is of pivotal importance.