01/09/2023
Sunak’s growth strategy ‘missing’, says former Bank economist
Mr Sunak desperately needs to grow the economy to reduce the economic slump that is worsening the situation with soaring prices and striking workers.
Legal, Regulation & Compliance
01/09/2023
Quilter told to compensate client over legacy pension advice
The Fos said therefore Quilter is responsible for the advice being complained about.
01/06/2023
FCA finds number of issues still remain with CMCs
The regulator also said it was concerned about CMCs failing to investigate the veracity of claims properly and firms using their FCA authorisation to legitimise their non-regulated services.
01/06/2023
Data protection enforcement power struggles highlighted in Meta case
It used its powers to do so under a regulatory cooperation mechanism that operates under the EU’s General Data Protection Regulation (GDPR).
01/06/2023
EU ruling loosens pharma companies’ control over brands
Trade mark holders in the EU have the exclusive right to control when and where their goods are first placed on the EU market.
01/06/2023
PRA statement on the recalculation of the Transitional Measure on Technical Provisions
This statement highlights the PRA's recent invitation to insurance firms to recalculate the Transitional Measure on Technical Provisions.
01/06/2023
Addleshaw Goddard: Financial Services & Banking News
The letter follows the FCA's previous portfolio letter in October 2020 which details the regulator's two-year strategy and work plan for setting expectations of firms to mitigate the primary risks identified within the market.
01/06/2023
£1.1m Ponzi scheme fraudster jailed for three years
He told victims that the investment was ‘virtually risk free’
01/05/2023
K&L Gates Expands Global Footprint, Financial Services Client Offerings with Establishment of Dublin Office
K&L Gates’ Asset Management and Investment Funds practice has more than 50 years of experience in the financial services industry and comprises more than 150 lawyers throughout Asia, Australia, Europe, the Middle East, and North America.
01/05/2023
UK Pensions Dashboard Pursues Data Sharing Inspired by Open Banking
The Pensions Dashboard Regulations, which came into force in December, were designed to create the legal and technical framework for unified dashboards that enable retirees to view and manage their pensions from multiple providers.
01/05/2023
FSCS says Rowanmoor intel gathered ‘is helpful’ in ongoing probe
Rowanmoor Personal Pensions Limited, which managed £1.4bn of people’s pensions, collapsed in August last year following a Financial Ombudsman Service case upheld against it which opened the floodgates to many similar claims.
01/05/2023
Fines issued by the FCA more than doubled in 2022
The number of FCA fines levied against individuals also rose, from only three in 2021 to 10 in 2022.
01/05/2023
UK Regulatory Horizon Scanning Update: Q4 2022
The FCA are seeking views on their proposed rules to introduce a new financial resilience regulatory return for solo-regulated firms.
01/05/2023
PFS board advisers say governance failure claims lack evidence
“As member directors and co-opted advisers, we want formally to express our severe disappointment with the announcements made by the CII just before Christmas,” the statement read.
01/04/2023
French watchdog fines H2O Asset Management, executives over Tennor investments
The AMF in its decision said the financial penalties would be accompanied by disciplinary sanctions, citing several failings related to the acquisition and management of the Tennor assets
01/04/2023
Pensions Ombudsman orders rogue trustees to repay £12.6mn
The case was brought by Dalriada Trustees, which was appointed by the Pensions Regulator as independent trustee of the Optimum Retirement Benefit Plan in 2018, and an individual complaint by a scheme member.
01/04/2023
Marketplace operators face increased liability risks when advertising counterfeit goods
Louboutin had sued Amazon in Belgium and Luxembourg, claiming that because Amazon regularly advertises red-soled shoes offered by third party sellers, it has infringed that trade mark.
01/04/2023
Legislative Clarification on the Luxembourg Reverse Hybrid Entity Tax Rule with Retroactive Effect
The rule now requires that the double non-taxation outcome resulting from the reverse entity must only be due to the mismatch classification of such entity.
01/04/2023
H2O AM hit with record fine over Windhorst-linked investments
€100m in total
01/04/2023
The real impact of RDR is empowerment, not professionalism
For others, the increased levels of professionalisation – added to the net effect of driving poor actors out of the market – have only strengthened their own businesses.