11/10/2023
ESMA to put cyber risk as a new Union Strategic Supervisory Priority
In addition, ESMA and NCAs will continue their work on the second priority – ESG disclosures.
Legal, Regulation & Compliance
11/09/2023
Union Investment reshapes management of €20bn multi-asset range
The German fund house has reworked senior roles and prioritised risk metrics over asset allocation calls.
11/09/2023
FCA issues stern warning to high-cost and underdelivering wealth managers
‘We have seen many wealth managers and stockbrokers failing to meet their obligations to provide a service that delivers good consumer outcomes’
11/09/2023
Finma recognizes new risk – after the crisis is already over
The supervisory authority now attaches greater importance to the risks associated with liquidity and refinancing as well as the outsourcing of business activities.
11/09/2023
German regulator finds ‘serious deficits’ in Leonteq’s due diligence
German regulator finds ‘serious deficits’ in Leonteq’s due diligence
11/08/2023
SEBA Hong Kong Awarded Licence by the SFC to Conduct Regulated Activities in Traditional Securities and Crypto-Related Services
Institutional and professional investors, including corporate treasuries, funds, family offices and high-net-worth individuals, can begin availing of SEBA Hong Kong’s licensed services from today.
11/07/2023
IP rights holders urged to ensure UK address ahead of year-end deadline
This is because businesses are treated as not contesting proceedings raised in respect of their rights if they do not reply to the UKIPO’s correspondence within one month
11/07/2023
Firms should strengthen anti-fraud systems and must treat victims of fraud better, review finds
Firms should also consider the findings from our recent publication Proceeds of fraud – Detecting and preventing money mules, which reviewed payment account providers’ systems and controls against money mules accounts.
11/07/2023
Barclays faces investor lawsuit over undisclosed Epstein ties
The lawsuit emphasizes the enduring repercussions of the Epstein scandal on the financial sector.
11/07/2023
Addleshaw Goddard: Financial Services & Banking News
The paper focuses on sterling-denominated stablecoins, as it considers these are the most likely digital settlement assets to be used widely for payments.
11/06/2023
Euro area households reluctant on spending €1trn in excess pandemic savings: ECB
This shift has had a direct impact on euro area inflation and is consequently of significant interest to ECB policymakers.
11/06/2023
European Opportunities proposes additional tender offer ahead of continuation vote
For up to 25% of issued share capital
11/03/2023
Withers' charity and philanthropy team wins recognition in major legal directories
The Withers’ charities and philanthropy team has been recognised as a top tier practice by leading directories Legal 500 and Chambers and Partners for 2023/2024.
11/03/2023
UK enters 'new phase of suspended animation' after Bank of England holds rates
Second consecutive hold
11/03/2023
Financial Services & Banking News
The guidance relates to firms existing regulatory obligations
11/03/2023
FCA bans adviser in regard to DB pensions transfers
He had advised 422 customers, 183 were BSPS members
11/02/2023
Succession Planning for Family Businesses
The transfer of wealth from such businesses can be planned and orderly, or forced by external circumstances—and thus much harder to manage.
11/02/2023
EU regulator bans Meta's use of personal data for behavioural advertising
European Data Protection Board took the decision following a request from Norway's data regulator
11/02/2023
ESMA publishes data for quarterly bond liquidity assessment and the systematic internaliser calculations
ESMA’s liquidity assessment for bonds is based on a quarterly assessment of quantitative liquidity criteria, which includes the daily average trading activity (trades and notional amount) and the percentage of days traded per quarter.
11/02/2023
Addleshaw Goddard Financial Services And Banking News
The FCA has also published a press release, confirming that it has secured further changes to potentially unfair and unclear contract terms for unregulated BNPL firms.