08/22/2022
CV fraud case highlights need for due diligence in recruitment
The High Court initially granted the confiscation order against Andrewes.
Legal, Regulation & Compliance
08/22/2022
FCA fines Citi £12.5m for trading oversight failings
These rules mandated that firms monitored all trading activity across a wide range of markets and instruments.
08/19/2022
Liz Truss eyes merger of regulators
It has around 4,000 staff overseeing firms from financial advisers and pension providers to asset managers and large high street banks.
08/19/2022
Graham Bentley: Ready for sustainability preferences under MiFID II?
MIFID II changes will apply to investment managers operating on a cross-border basis, and European advisers, but not to UK advisers or asset managers.
08/19/2022
Bank of London to create 230 jobs in Northern Ireland
Chief risk and compliance officer (UK) Stephen Bell has been appointed as the country head for Northern Ireland.
08/19/2022
Directors of Scunthorpe headstone company banned
Husband and wife directors disqualified after taking customers’ payments while knowing the business was insolvent.
08/19/2022
Regulator removes trustees and charity is wound up after trustee attempted to avoid business rates
The Commission has removed Achiezer from the register of charities, and removed two of the charity’s trustees.
08/19/2022
US SEC’s decision to let MiFID II no-action letter expire could cause problems for both European asset managers and US brokers
The MiFID II regulations that came into effect in Europe in January 2018 unbundled trading and research and pushed almost all European asset managers into paying for investment research in cash.
08/18/2022
UK Government proposes a new approach to regulating artificial intelligence (AI)
Businesses should also consider who is responsible for AI governance and risk management strategy within their organisation and prepare to align their internal AI strategy with the proposed principles.
08/18/2022
Are pay rises the only option for employers wanting to support employees with the cost of living crisis?
The rising energy costs, ongoing supply chain disruption and labour shortages mean that many employers are simply not in a position to permanently raise wages enough to counter the impact of the cost of living crisis on their employees.
08/18/2022
Latest developments in the banking & financial services sector - Addleshaw Goddard LLP.
The residual risk add-on (RRAO) is one of the elements that firms using the alternative standardised approach (ASA) to market risk, are required to calculate under the CRR.
08/18/2022
Negotiating with government to do business is hard, especially when the rule of law is unclear
Negotiating with government, for example, to obtain visas, improve market access through trade agreements, or amend regulations is a cost for business and has unwelcome effects.
08/18/2022
Changes to HMRC’s Trust Registration Service – do the new rules apply to you?
The deadline for affected trustees to register their trusts on the TRS is 1 September 2022.
08/18/2022
Just two weeks left to register a trust with HMRC or risk a penalty
It is the responsibility of the trustees to ensure the trust is registered online by the deadline
08/18/2022
Chambers Global Practice Guides - Private Wealth 2022
The guide provides information on 34 jurisdictions
08/17/2022
FCA encourages market participants to continue transition of LIBOR-linked bonds
Publication of synthetic LIBOR settings will be for a temporary period only
08/16/2022
Addleshaw Goddard: Financial Services & Banking News
As a result, the FCA will expect that firm to voluntarily apply to cancel its temporary permission and either enter supervised run-off to run-off its UK business (if eligible) or leave the UK perimeter.
08/16/2022
Barclays’ ‘broken’ mortgage live chat service feeds misinformation
Legally, both have to be paid off at the same time. But I was wondering if we could stagger completion of the two charges.
08/16/2022
A new regime for critical third party providers to UK financial services firms is on the horizon
Publication of DP22/3 marks an early step on the road to the introduction of a new designation regime for third party providers in respect of the material services they provide to the UK financial services sector.
08/16/2022
FCA redress proposals ignore clients' best interests
So in that role of protecting consumers they must be considerate of clients' best interests, and what that means when unsuitable advice is given.