06/06/2023
UBS Expects to Ink Government Loss Guarantee Tomorrow
That agreement, which is one of the final pieces of the puzzle that needs to be completed for the takeover, is expected to be finalized tomorrow
Legal, Regulation & Compliance
06/05/2023
Financial watchdog bans referral fees for debt packagers to help struggling consumers
It will put a stop to the business model which incentivises debt packagers to recommend certain options that make them more money rather than what is in the customer’s best interest.
06/05/2023
How the FCA’s new Consumer Duty impacts UK pension scheme buy-outs
This will further strengthen the regulatory regime that applies to insurers and the protection it offers to bought out members.
06/05/2023
FCA fines ED&F Man Capital Markets Ltd £17.2m for serious failings which enabled millions in illegitimate tax reclaims
It is established that £20m of the WHT reclaims made by MCM’s clients to the Danish tax authority (SKAT) were illegitimate.
06/02/2023
ESAs put forward common understanding of greenwashing and warn on risks
The ESAs also highlight that sustainability-related misleading claims can occur and spread either intentionally
06/02/2023
FCA approves prospectus of Rathbones’ merger with Investec W&I
The regulator has given the go-ahead to prospectus and shareholder circular of the deal between Rathbones and Investec W&I to create a £100bn wealth giant.
06/02/2023
Charity tax: HMRC launches consultation on tackling abuse
The consultation identifies four areas of tax compliance in which the rules are currently “not working as intended”
06/02/2023
FCA bans referral fees for debt packagers to help struggling consumers
Firms representing two thirds of the market in customer numbers have either left or suspended their activities, since the FCA first raised concerns in July 2021.
06/01/2023
Changes to credit union legislation in Great Britain
This page explains the changes assuming they go ahead as currently drafted.
06/01/2023
Addleshaw Goddard: Financial Services & Banking News
The FCA expects to publish a notice under Article 23C(2) of the Benchmarks Regulation on 1 July 2023
06/01/2023
EU regulators present common understanding of greenwashing and warn on related risks
The ESAs also highlight that sustainability-related misleading claims can occur and spread either intentionally or unintentionally and in relation to entities and products that are either under or outside the remit of the EU regulatory framework.
06/01/2023
Administrators find £81m potential shortfall in WealthTek client money as director's assets frozen
The Financial Conduct Authority says it is investigating the firm and its founder John Dance over potential regulatory breaches relating to client money and custody assets, and criminal offences of fraud and money laundering.
05/31/2023
Withers tech represents Molten Ventures in £10 million Series A round for digital workflow business Zaptic
Zaptic's no-code platform helps manufacturers to digitise operations, applying AI to maximise productivity in workflow processes.
05/31/2023
Withers tech represents Molten Ventures in £15 million Series B funding of quantum computing firm Riverlane
Riverlane is developing solutions to quantum computing technology, including error correction that makes data processing more reliable.
05/31/2023
Impact of ‘headline-grabbing’ English rent reform Bill ‘remains to be seen’
The Bill would abolish assured shorthold tenancies, creating a single system of periodic fixed-term assured tenancies.
05/31/2023
FCA removes permissions of advice business
Company had ‘not been open and co-operative’ with the regulator
05/31/2023
Home REIT internal probe fails to reassure shareholders as board faces resignation calls
Board oversight concerns
05/30/2023
Charity land disposals: new law is coming into force
Third Sector magazine has reported research that the number of fundraising jobs advertised as offering hybrid working has grown by 900 per cent since before the pandemic.
05/30/2023
Apex Group sets out Ireland expansion plans with the creation of new jobs at Limerick office
This announcement follows continued organic and acquisitive growth for Apex Group in Ireland, including the recent client win of Boston Partners for Management Company Services and planned acquisition of the Irish depositary business of Bank of America.
05/30/2023
Clifford Chance advises the lenders in relation to BDR Thermea Group's €650 million Revolving Credit Facility
The Facility is envisaged to become Sustainability-Linked in the course of 2023.