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.
Legal, Regulation & Compliance
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.
04/19/2023
EBA consults on approach to the resubmission of historical data under the EBA reporting framework
The consultation runs until 31 July 2023.
04/19/2023
Law firms must transform to retain clients and staff
Without transforming operations in their current form, the firm asserts that the legal sector will struggle to keep its gain or retain both clients and staff.
04/19/2023
Bank Reyl Fined Once Again in France
In addition, partner and general manager François Reyl was also convicted in the case involving practices at the bank from 2009 to 2013 and fined half a million euros.
04/19/2023
Russian central bank official sees 2023 growth close to 1%
Russia's economy shrank 2.1% in 2022 under the pressure of Western sanctions and fallout from its military campaign in Ukraine.
04/19/2023
Bank of England finds new use cases for DLT in synchronised setttlement
In this instance, transactions settle using central bank money in an RTGS system.