11/27/2023
EU Commission announces €4bn Innovation Fund call
The Innovation Fund can cover up to 60% of a project's relevant costs, with eligibility extended to projects in the EEA, including the maritime, road transport and buildings sectors.
Legal, Regulation & Compliance
11/27/2023
HSBC UK investigating as customers struggle to access banking services
The bank has apologised to customers and is working to restore its mobile and online banking service, including the authorising of online card purchases via the app.
11/27/2023
Addleshaw Goddard: Financial Services & Banking News
The report explores where AI is currently being deployed; where it shows promise for the future; and how to make the most of the opportunities on offer.
11/27/2023
FCA finds investment firm IFPR understanding still lacking
This is the final report from the FCA on the implementation of IFPR.
11/27/2023
Klarna gets full UK approval to offer credit and payments, but BNPL goes unregulated
The Stockholm-headquartered fintech established a new UK holding company called Klarna Financial Services UK to secure regulatory approval.
11/27/2023
FCA bans Nigel Lewis and Susan Jones for incompetent British Steel Pension Scheme advice
Mr Lewis has also been banned from holding any senior management functions in a regulated firm.
11/24/2023
Luxembourg Sets Pace for Private Credit in Europe
Private credit has been a key beneficiary of this mood and Luxembourg has been right at the centre of this activity as a primary jurisdiction for private credit in Europe.
11/24/2023
Unregulated Buy Now Pay Later (BNPL) firms becoming authorised
While BNPL products can provide a useful way to spread the cost of a purchase for some people, it's important that consumers are aware that many BNPL products remain unregulated.
11/24/2023
PIMFA welcomes reforms to ISAs including proposals to allow fractional share ownership
Of more interest is the Government’s stated intention to permit certain fractional share contracts within ISAs.
11/23/2023
Pension value for money
The FCA is responsible for the regulation of contract-based defined contribution schemes and is working alongside the DWP and TPR to ensure the new framework is consistent across all DC schemes.
11/23/2023
UK government launches consultation on use of agency workers during strikes
The proposed changes would allow agency workers to provide temporary cover in all sectors – as long as they are suitably qualified to uphold service standards.
11/23/2023
Baker McKenzie advised Luzerner Kantonalbank in connection with GarLa Group financing
Baker McKenzie advised the financing parties on all legal and tax aspects of the transaction.
11/23/2023
Triple lock lives to see another day: Industry reacts
The triple lock was introduced in 2010 by the Conservative-Liberal Democrat coalition government in recognition that the real value of the basic state pension had fallen over many years.
11/23/2023
Hundreds of investors call for probe into FCA's handling of Woodford saga - reports
Days before redress scheme vote ends
11/22/2023
Withers wins £3m refinancing dispute for wealth management client
We successfully obtained judgment against the companies during the disclosure stage of the proceedings.
11/22/2023
The EBA publishes final standards for Supervisors assessing new market risk internal models
These RTS are part of the phase 4 deliverables of the EBA roadmap on market risk and counterparty credit risk approaches.
11/22/2023
Financial stability outlook remains fragile as macro-financial conditions weaken, ECB finds
At the same time, investment funds and other non-bank financial institutions remain vulnerable to liquidity, credit and leverage risks.
11/22/2023
Autumn Statement 2023: UK minimum wage rises announced
The government said that, for a full-time worker aged 21, the NLW rate rise will mean an annual pay rise of almost £2,300.
11/22/2023
Chancellor reforms National Insurance contributions
Hunt said following the reform these earners will still be entitled to full access to state pension credits and other benefits.
11/21/2023
Morses Club Limited and Shelby Finance Ltd (trading as Dot Dot Loans) enter administration
The FCA is in regular contact with the firms and the joint administrators regarding the fair treatment of customers.