08/06/2018
Investment company shut down over misleading claims
Customers were subjected to highly pressurised sales tactics and were misled about the amount of returns made on investments.
Legal, Regulation & Compliance
08/06/2018
Accountant charged over misleading the regulator
Mr Shah is due to appear at Brighton Magistrates Court on 15 August 2018.
08/06/2018
Canaccord clients seek redress over film scheme
The wealth management firm will “vigorously defend itself” if claims are advanced
08/06/2018
Denmark Takes Up Investigation of Its Biggest Bank for Money Laundering
It's too soon to know if criminal charges will result, said the prosecutor. "We are very concerned that every stone in this case is turned over."
08/06/2018
UniCredit files €90m claim against Caius Capital
Dispute between Italian bank and hedge fund over complex debt instrument deepens
08/03/2018
MiFID II: ESMA publishes data for SI calculations
The publication of the data for the SI calculations for derivatives and other instruments will start on 1 February 2019 as set out in the plan announced by ESMA on 12 July 2018.
08/03/2018
French request for UBS banking data stopped by Swiss court
"The judgment is a big success for UBS, and it took a lot of effort. In a first hearing, UBS struggled to be named a party in the case and to access the French files," Jacquemart said.
08/03/2018
If it ain’t broke,don’t regulate it
The five firms described the credit opinions they gave clients as “shadow ratings”. They contained credit opinions on different borrowers and instruments, as well as rating scales.
08/03/2018
Trustee Survival Guide: Beneficiary Rights to Information - Navigating the Evolving Landscape
Personal data"’ means any data that relates to an individual who can be identified from that data
08/03/2018
Common Reporting Standard: anti-avoidance measures
Compliance with the CRS is not a choice; it’s an obligation. And the penalties for non-compliance are severe.
08/03/2018
Adviser fleeced £300,000 from his friends
He then pleaded guilty on the day of trial to one count of theft from the cricket club.
08/02/2018
Bloomberg streamlines research management for MiFID II investment firms
Firms have also expressed a need for solutions to value the research, budget for it, and report back to their clients.
08/02/2018
Tribunal upholds FCA ban on Harlequin adviser
The Tribunal found TailorMade's customers were given bad advice to transfer into a Sipp which was to be invested in either a single, or a very small number of, inherently risky overseas property investments - notably Harlequin.
08/02/2018
FCA statement on selling high-risk speculative investments to retail clients following ESMA’s action on CFD products
We fully support ESMA’s measures, which are designed to protect retail investors.
08/02/2018
Upper Tribunal upholds FCA decision to fine and ban Chief Executive
The Tribunal also directed the FCA to impose a fine on Mr Burns of £60,000 on the basis that he had breached the FCA’s Statement of Principle 7 by failing to ensure that TMI complied with its obligations under the regulatory regime.
08/02/2018
IOSCO report: Mechanisms Used By Trading Venues
The report also identifies the more recent development and use of price constraint mechanisms that, rather than simply halting trading, reject or constrain certain ordersto allow trading and price formation to continue.
08/01/2018
No FCA action against RBS after mistreatment of small businesses
City watchdog says its inability to discipline bank in no way means it condones behaviour
08/01/2018
ICO reveals fivefold increase in personal data breach reports
The GDPR places new obligations on employers to self-report qualifying personal data breaches to the ICO within 72 hours of a breach becoming known.
08/01/2018
Ogier advises Generali on €409 million Generali Worldwide Insurance Company Limited sale
Generali will receive approximately €409 million in base consideration
08/01/2018
An evaluation of our guaranteed asset protection insurance intervention
Our intervention has had a positive impact.