04/25/2023
Losing data adequacy not a ‘complete disaster’, says Whittingdale
The UK government has previously described the proposed new Bill as a “common-sense-led UK version of the EU’s GDPR”
Legal, Regulation & Compliance
04/25/2023
Comentis launches vulnerability support framework
The FCA estimates that, at any one time, over 50 per cent of the adult population is experiencing circumstances that could result in a vulnerability.
04/25/2023
FCA warns investors about mismanagement of trust schemes
UK watchdog says it has seen cases of trustees making ‘unsuitable investments’
04/24/2023
The Companies Registration Office Wants to Know you Better
Part of the actions to combat these suspected fraudulent entities was to bring in a requirement for all directors to provide Personal Public Service (‘PPS’) numbers on appointment and on their Annual Return filings.
04/24/2023
ESMA finds data quality significantly improves under new monitoring approach
The new framework, adopted in 2022, takes a more data-driven and outcome-focused approach to data monitoring and to collaborating with the NCAs on data quality issues under EMIR and SFTR.
04/24/2023
FCA restricts wealth management firm over client money concerns
It also noted that the firm failed to obtain appropriate acknowledgment letters for client bank accounts where client money is held.
04/24/2023
Two LGPS pools call on Glencore for greater climate transparency
Other investors in the coalition include Scottish Widows, Man Group, EFG Asset Management, Swiss Federal Pension Fund PUBLICA, Pensionskasse SBB, Downing Fund Managers and Fulcrum Asset Management.
04/24/2023
FCA sets out recommendations for LDI managers
The FCA has also been engaging directly with firms involved in the management of LDI portfolios to develop and maintain increased resilience to deal with possible future volatility.
04/24/2023
Financial watchdog puts banks on alert in fight against money laundering via the Post Office
Post Offices are an important part of protecting access to cash for people and small businesses.
04/24/2023
BSPS firm placed under investigation by FSCS
During 2017, BSPS members were asked to make decisions about their pensions as part of a restructure of the scheme.
04/21/2023
Subprime Debacle Catches up With Credit Suisse in Court
The suit was brought by Loreley Financing, a subsidiary of German bank IKB, which alleges Credit Suisse misled it with false statements in a $100 million investment in 2007.
04/21/2023
New iPhone app for HNWs caught up in fraud and tax raids
HNWs and businesses facing dawn raids by the SFO and HMRC can now get rapid-fire advice when the authorities turn up unannounced
04/21/2023
Addleshaw Goddard: Financial Services & Banking News
The purpose of the framework is to ultimately achieve better outcomes for consumers, firms and the industry as a whole, through building on the existing collaborative work that takes place.
04/21/2023
Oliver Wyman beats MBB to UBS-Credit Suisse integration
Credit Suisse is a global investment bank and financial services firm founded and based in Switzerland.
04/21/2023
FCA restricts London wealth manager
The regulator has imposed a number of restrictions on the firm including a ban on disposing of firm assets.
04/21/2023
H2O AM fined €20,000 per day until it coughs up key documents
Under-fire asset manager facing recurring penalty for failing to provide information to gauge impact of side-pocketed assets.
04/21/2023
Short-Term lets targeted in latest government proposals
Legal requirements around short term lets are already in place across Wales and in certain areas across England, including in London where planning permission is required for any property used for short term lettings for a total of more than 90 nights in
04/20/2023
Millions of customers together save nearly £1 billion due to overdraft rule changes
The FCA estimates that the 30% of consumers living in the most deprived areas in the UK saved £153 million in 2021.
04/20/2023
FCA announces plan to deliver significant redress to Woodford investors
The contribution of the Link Group is dependent on the approval of the Scheme by the WEIF investors entitled to redress and other WEIF related creditors of LFS (if any) covered by the Scheme.
04/20/2023
Harneys advises the National Bank of Greece on the financing of Tethys Securitization Sàrl
The National Bank of Greece is a global banking and financial services company with its headquarters in Athens, Greece.