05/31/2024
CMA launches probe into Nationwide-Virgin Money deal
The CMA said it is investigating whether the deal could result in a “substantial lessening of competition” in the UK.
Legal, Regulation & Compliance
05/31/2024
Flagstone gets status change approval from JFSC
The approval from the JFSC recognises Flagstone International as an independent trust company able to provide services under Jersey’s regulatory framework.
05/30/2024
Report reveals how asset managers can implement SDR
The report also urges firms to step up engagement with distributors at the earliest opportunity to ensure they are comfortable with the core sustainability features of each product.
05/30/2024
White & Case advises EIF on synthetic securitisation of Deutsche Bank-originated German consumer loan portfolio
The EIF guarantee on the €150 million mezzanine tranche covers a large reference portfolio of consumer loans.
05/29/2024
FCA 'working to modernise' regulation for asset managers
Alder said responses to the regulator's consultation on replacing asset management regulation, currently contained in retained EU law, indicated a desire to remain broadly aligned with EU rules.
05/29/2024
Woodford should forfeit his CBE, says TTF
They said the Woodford scandal has caused terrible harm to its victims.
05/29/2024
EBAday 2024: 100 banks registered and ready to fuel the payments technology conversation
Connecting with the 100 banks attending EBAday has also never been easier.
05/29/2024
Intelligent Money Ltd enters administration
The joint administrators are qualified insolvency practitioners.
05/29/2024
Global regulatory update Q1 2024
The EBA also issued guidance to crypto-asset service providers on managing their exposure to AML/CFT risks
05/28/2024
Banking fraudster jailed over fake applications for loans and pensions
He uploaded ‘selfie’ pics which, in conjunction with stolen customer personal data seized, enabled him to bypass online verification
05/28/2024
Labour has opportunity to drastically improve British ISA if it comes to power
The ISA is a simple idea, a tax efficient place to grow your wealth, however, with various additions over the years it has now become a confusing area of personal finance.
05/24/2024
Financial services sector reacts as PM Rishi Sunak calls general election
Sunak’s announcement coincides with the news that inflation has fallen to 2.3%, moving closer to the Bank of England’s target of 2%.
05/24/2024
FCA fines HSBC £6.2 million over treatment of customers in financial difficulty
The failings were caused by deficiencies in HSBC’s policies and procedures and the training of their staff, as well as inadequate measures to identify and address instances of unfair customer treatment.
05/24/2024
FCA publishes Decision Notices against two individuals for acting without integrity in relation to pensions business
The portfolios were created and managed by Mr Goodchild at Westbury, with 39% of overall holdings linked to a single offshore property developer.
05/24/2024
Firms to recommence GAP insurance sales following FCA action
Firms that have resumed sales of GAP insurance have done so with materially lower levels of commission being paid out to those selling GAP, improving value for customers.
05/24/2024
Navigating NPPR Processes in the EU: Insights from Luxembourg, the Netherlands, and Ireland
In this article, we provide an overview of the NPPR processes in Luxembourg, the Netherlands, and Ireland.
05/23/2024
The PRA’s approach to the authorisation and supervision of insurance branches
Policy statement 8/24
05/22/2024
Banking giant Citi fined £62m by UK watchdogs
Meanwhile, the Financial Conduct Authority handed out a £27.8m penalty
05/21/2024
Isle of Man considers change of policy on family offices
The call for input will lead to further research on the available options, which will form the content of a further consultation paper or discussion paper in due course.
05/21/2024
'Faked Satoshi ' Craig Wright Lied About Inventing Bitcoin: Judge Rules
A group of crypto firms brought the civil trial, the Crypto Open Patent Alliance (COPA), that sought to prevent Wright from claiming he invented Bitcoin.