02/07/2023
NFTs ruling shows courts ahead of legislators on question of crypto property law
The NFTs are said to confer benefits on the holder, including access to exclusive virtual events, and are said to be worth between £3,000 and £5,000.
Legal, Regulation & Compliance
02/07/2023
PIMFA calls for Financial Conduct Authority to have greater role in protecting public from fraud
It is vital that the public is protected from online fraud, and the devastating impact it can have on people’s lives.
02/07/2023
GIC slashes investments with H2O Asset Management after regulatory sanctions
The French fund manager managed $4.19bn of assets on behalf of sovereign wealth funds, according to the company’s last year US regulatory filing.
02/06/2023
Mayer Brown advises Crédit Agricole wealth management arm, Indosuez, on acquisition of majority stake in Wealth Dynamix
The operation supports Indosuez’s innovation focus as well as strengthening Azqore's position in the outsourced banking services' sector.
02/06/2023
Financial watchdog blocks thousands of misleading ads
The FCA has made significant improvements to the digital tools it uses to find problem firms and misleading adverts.
02/06/2023
FCA supports firms through the transition to implementing the Consumer Duty
Putting good outcomes for customers at the heart of firms’ strategies and business objectives will build trust and modernise how we regulate financial services.
02/06/2023
Swiss authorities open criminal probe into bank data breaches
Authorities launch investigation into last year’s leak of the details of 18,000 accounts at Credit Suisse
02/06/2023
Proposed amendments to SRA standards and regulations
The amendment specifies that bills and notifications of costs must be for costs that have already been incurred.
02/03/2023
Financial watchdog proposes to ban debt packager referral fees to protect consumers
Following analysis of the feedback the FCA received to that consultation, it decided to gather some additional evidence from the debt packager market to supplement its existing evidence base.
02/03/2023
Financial Services & Banking News
The FCA consultation also sets out new perimeter guidance to clarify when the regulated activity of debt counselling could be being carried out by unauthorised lead generators.
02/03/2023
FCA clamps down on financial promotions
The Financial Conduct Authority (FCA) required authorised firms to amend or remove 8,582 promotions during 2022. That is 14 times more than 2021, a report published today (3 February) shows. In 2021, the regulator required authorised firms to amend or r
02/03/2023
Nexus flagged by Nucleus and 7IM over ad hoc fees
On Companies House, chief executive Kerry Nelson is listed as the only active director at Nexus Independent Financial Advisers Limited.
02/03/2023
FCA cracks down on fraudulent promotions
The UK regulator aims to instate harsher limitations for financial promotions to deter unauthorised ‘fin-fluencers’ that are taking advantage of consumers.
02/02/2023
UK government proposes statutory dismissal and re-engagement code
The code recognises that dismissal and re-engagement is a lawful strategy for changing employee terms and conditions where there is a real business need to do so.
02/02/2023
ESMA publishes data for the systematic internaliser calculations
Investment firms are required to perform the SI test by 15 February 2023.
02/01/2023
Restrictions placed on Nexus Independent Financial Advisers and Nexus Investment Managers
Nexus Independent Financial Advisers and Nexus Investment Managers have the right to make written or oral representations to us on the First Supervisory Notice.
02/01/2023
ECB to stress test 99 banks
The results will shed light on the impact of adverse shocks on banks’ resilience under challenging macroeconomic conditions.
02/01/2023
FCA warning on pre-paid probate plans could signal increased regulation
The FCA warned that pre-paid probate plans are not protected by the Financial Services Compensation Scheme (FSCS) and there is no requirement for money to be held in trust or backed by insurance.
02/01/2023
Financial Services & Banking News
These themes are based on over 350 findings from intelligence-led penetration tests conducted on 14 firms during this cycle of testing
01/31/2023
UK turns to industry to solve £26bn lost pensions problem
‘It is time for the DWP to get off the fence and take action’