10/16/2023
Conister makes history by gaining UK deposit taking licence
These deposits, and Isle of Man sourced deposits, will reportedly drive the company’s lending expansion here and in the UK.
Legal, Regulation & Compliance
10/13/2023
FCA decides to fine and ban James Staley
The FCA considers that, in failing to correct the misleading statements in the letter, Mr Staley recklessly misled the FCA and acted with a lack of integrity.
10/13/2023
GAM Holding AG: Newgame SA withdraws its appeal against the Swiss Takeover Board’s ruling of 31 August 2023
Newgame SA withdrew its appeal on 27 September 2023, as a result of which FINMA’s Takeover and State Liability Committee wrote off the appeal proceedings as having become redundant.
10/13/2023
British Steel associated firm on FSCS default list
Customers who are owed money by these firms may be entitled to compensation from the FSCS.
10/13/2023
Financial watchdog fines Equifax Ltd £11 million for role in one of the largest cyber-security breaches in history
The UK consumer data accessed by the hackers ranged from names, dates of birth, phone numbers, Equifax membership login details, partially exposed credit card details, and residential addresses.
10/13/2023
Ireland introduces central beneficial ownership register for some investment funds
The new Regulations also provide clarification on who constitutes a 'beneficial owner' of a unit trust
10/13/2023
Dutch ruling highlights wider EU legacy issues following telecoms regulatory reform
In reaching its decision, the Dutch court considered a particular delegated EU regulation introduced in December 2020 that sets a single maximum EU-wide mobile voice termination rate
10/12/2023
Bernie Ecclestone is in trouble over money from Julius Baer
The soon-to-be 93-year-old former Formula 1 boss Bernie Ecclestone has pleaded guilty to tax fraud.
10/12/2023
Charles Russell Speechlys launches private office
Charles Russell Speechlys has officially launched the Charles Russell Speechlys Private Office.
10/12/2023
Businesses complain at lack of funding to reduce their own emissions
And despite the challenges, the report found that the majority of UK business leaders were making aggressive plans to eliminate carbon emissions.
10/11/2023
FCA issues 146 alerts in first 24 hours of new crypto marketing regime
The list will help consumers understand where firms' promotions may be breaking the law and to consider the promotion with the full information available.
10/11/2023
FSB: There were alternatives to the CS takeover
There would have been alternatives, according to the top financial stability watchdogs - that sounds very much like justification.
10/11/2023
FCA censures London Capital & Finance plc
Financial promotions were used by LCF to market minibonds to retail investors.
10/10/2023
Mark Carney endorses Labour's Rachel Reeves as next UK chancellor
Current shadow chancellor
10/10/2023
UK transition plan disclosures framework finalised
The framework is initially voluntary for businesses to adopt, but it is expected to form the basis of legal and regulatory requirements in the UK in due course.
10/10/2023
FCA welcomes the launch of the Transition Plan Taskforce Disclosure Framework
Climate transition plan disclosures deliver this information.
10/10/2023
Financial Services & Banking News
Under contract with Ofcom, the ASA remains the day-to-day regulator for all finance-related broadcast advertising in Ofcom-regulated TV and radio services
10/09/2023
FCA places restrictions on London Court Ltd
It can however provide bond administration and ISA management services to existing clients and investments they already hold.
10/09/2023
CMA Investigates UK Cloud Services Market After Ofcom Reveal Concerns About Providers
Ofcom’s report also outlines concerns it has heard about the software licensing practices of some cloud providers, in particular Microsoft.
10/09/2023
Swiss Finance Minister Faces Committee Questioning Over Credit Suisse
It marks the beginning of the political investigation into the forced takeover of the bank on March 19.