11/16/2018
FCA issues scam warning over wealth management firm
This firm is not authorised by us and is targeting people in the UK.
Legal, Regulation & Compliance
11/16/2018
Romania to set up sovereign wealth funds for investment
The legal form of organizing these sovereign funds is that of Romanian joint-stock companies under terms to be established separately under government decisions.
11/16/2018
Aviva apologises for breaching FCA transparency rules
Aviva has sent an email to affected customers apologising
11/16/2018
Regulation round-up November 2018
Regulation round-up is our monthly email to all regulated firms, updating you on the latest news that affects your sector.
11/16/2018
ESMA Reports on NCAS' Use of Sanctions and Administrative Measures Under MAR
MAR foresees administrative sanctions for infringing the Regulation, which depending on the gravity of the infringement, can amount up to 5,000,000 Euros.
11/16/2018
Sexual harassment: is it fit and proper? - Withers
The FCA appears not to have thought about how it will approach its analysis of these types of allegations.
11/16/2018
Police end investigation into head of international pensions firm STM
Last month STM, which provides international tax planning, acquired the troubled UK Sipp provider Carey Pensions in a deal worth up to £400,000.
11/16/2018
EE and Virgin Media slapped with £13.3m fine
These fines send a clear message to all phone and broadband firms that they must play by the rules, in the interests of their customers.”
11/16/2018
UBS whistleblower awarded token damages by Paris court
UBS is facing a tax fraud trial in France that could see the bank fined up to €3.7 billion if found guilty of helping French citizens dodge their tax obligations.
11/15/2018
UK leverage ratio
This includes Basel III and the European Capital Requirement Regulation (known as CRR2) currently under negotiation.
11/15/2018
Adoboli Deported to Ghana
Adoboli had been arrested on Monday in Glasgow and sent to a detention center in London pending extradition.
11/15/2018
Denmark to consider curbs on convicted investors after tax fraud
As inquiries into so-called dividend stripping gather pace around Europe, Danish authorities have already subpoenaed more than 420 companies and people they suspect of involvement, freezing hundreds of millions of euros of assets around the globe.
11/15/2018
FCA to change way it calculates fees
The CP applies to all FCA fee-payers and SFGB levy-payers
11/15/2018
Islands respond to Brexit developments
In addition, Jersey’s Minister for External Relations has welcomed the UK Prime Minister’s statement on the Withdrawal Agreement.
11/15/2018
CivilisedBank Ready To Reapply For Banking License
As part of its plan, the company has resubmitted its banking license to regulators, according to CEO Mark Stephens.
11/14/2018
ESMA publishes MIFID II supervisory briefing on suitability
The purpose of this supervisory briefing is to promote common supervisory approaches and practices in the application of the MiFID II suitability rules.
11/14/2018
Beaufort Securities clients get their cash back
Last week a further 350 Beaufort clients, who are mostly in Wales, were also reunited with their money through AFH Private Wealth after it bought the client book of Beaufort's Colwyn Bay office.
11/14/2018
Financial Reporting Advisory Board terms of reference
This document details the terms of reference for the Financial Reporting Advisory Board
11/14/2018
FCA bans debt management director over £7m consumer loss
The Financial Conduct Authority (FCA) has today banned Darren Lee Newton from working in the financial services sector. The FCA discovered Mr Newton used customers’ money for the purchase of the debt management firm, First Step Finance Limited. This
11/14/2018
Danske Scandal Could Involve US Banks
Danske Bank, Denmark’s largest bank, is being investigated over what has been termed “massive money laundering flows” from Russia and several former Soviet states.