12/08/2022
IQ-EQ's UK Regulatory Compliance business expands with acquisition of Laven Compliance Ltd
The acquisition does not involve any other part of the Laven Group.
Legal, Regulation & Compliance
12/07/2022
FCA outlines stronger rules to protect consumers from rogue financial promotions
Under current legislation, any FCA authorised firm is allowed to approve financial promotions on behalf of other firms who are not authorised by the regulator.
12/07/2022
Companies face fines and prison if they do not comply with the Economic Crime Act 2022
The ECTEA received Royal Assent in March 2022 and is part of the UK Government’s strategy to combat crime and make the ownership of assets more transparent.
12/07/2022
Deutsche bank, Rabobank hit with EU antitrust charge over bond cartel
It said some of their traders communicated mainly through emails and online chatrooms.
12/07/2022
FCA publishes Decision Notices against three bond traders for market manipulation
The FCA considers that the individuals repeated this pattern of deliberate and intentional market manipulation on a number of occasions and were dishonest.
12/07/2022
German tax fraud ‘mastermind’ risks nine years in jail
Prosecutors have told the district court in Bonn that Berger was a key figure in the complex scheme, initiating “cum-ex” deals and teaching others how to game the system.
12/07/2022
How adviser M&A deals have changed in 10 years of RDR
These signal movements in the M&A market were not part of the FSA’s RDR planning
12/07/2022
ECB publishes documentation on digital euro prototyping exercise
The material published provides the information needed by any market participant to develop front-end prototypes compatible with the Eurosystem’s back-end infrastructure
12/07/2022
Rowanmoor finds buyer for Ssas and personal pension business
The deal is expected to complete at the end of January.
12/07/2022
Financial Services and Banking News
The proposals set out in the consultation paper will affect authorised persons who approve, or intend to approve, financial promotions for unauthorised persons
12/06/2022
European Court of Justice Decision on Public Beneficial Ownership Registers
The means utilized to achieve these aims often interfere with and/or provide exceptions to the enforcement of individuals’ rights to privacy and confidentiality, as are recognized in democracies across the globe.
12/06/2022
Director banned over £8m care home investment scheme
He has been handed a 10-year disqualification order
12/06/2022
IT issues delay Unified Patent Court start to June 2023
The UPC is being set up to provide a dedicated judicial system for litigating new unitary patents.
12/06/2022
Rulings on Irish directors’ obligations should give directors ‘pause for thought’
Keenan said both cases demonstrated the importance of the obligation on directors to act in good faith in what they believe to be the best interests of the company.
12/06/2022
Court backs cryptocurrency exchange bid to trace alleged fraudsters
The six cryptocurrency exchanges have also been ordered to explain
12/06/2022
OFAC Releases Price Cap Determination and Guidance on the Implementation of Price Cap Policy on Crude Oil Originating in the Russian Federation
This guidance is intended for the transport of crude oil products, and OFAC plans to release guidance on the price cap policy for petroleum products at some point in the future.
12/06/2022
Banks Keep European CLO Market Alive by Buying Their Own Product
Major global banks have historically been the biggest customers for CLOs, but the ones that put the deals together didn’t use to be significant investors in their own vehicles.
12/06/2022
Deutsche Bank Hit With Bonds Cartel Complaint From EU
EU suspects traders illegally swapped pricing and trading info
12/05/2022
Bank accounts and FX services via EDB
Are your bank accounts compliant with regulation and from an EU authorised credit institution?
12/05/2022
Barclays slapped with £8.4 million interchange fee fine
During this time, Barclays processed a third of all card payment transactions in the UK.