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Legal, Regulation & Compliance

08/23/2023

Simon Collins: FCA has something to prove with Consumer Duty

It has not gone unnoticed that the supervisory interventions by the FCA across all sectors over the last 12 months have referenced its expectations on firms’ future proofing their operations to be Consumer Duty ready.

08/23/2023

Ex-NatWest boss Alison Rose set for £2.4m payout after resigning over Farage row

Ms Rose is currently seeing out her 12-month notice period with the banking group.

08/23/2023

Big tech to face full force of new EU law

The landmark law is part of the EU's legal arsenal deployed to bring tech companies to heel

08/22/2023

Half of advisers think commission-based advice could be beneficial

In addition, a further 25 per cent said it would be “somewhat” beneficial, while 38 per cent said it would of not benefit at all.

08/21/2023

Financial Services & Markets Act 2023 gives FCA new powers to protect access to cash

Over the past few years, we have been carefully monitoring access to cash.

08/21/2023

Italy to propose ex-minister Franco for ECB board, source says

Franco, 70, is one of Italy's most experienced economists having served as both deputy governor at the Bank of Italy and state auditor, a key role in the management of public finances.

08/21/2023

Addleshaw Goddard: Financial Services & Banking News

It states responses to its consultation were generally supportive of its approach.

08/21/2023

National Trust resists pressure to ditch Barclays over environmental concerns

Attempt to cut ties with bank, which directly invests in new fossil fuel projects, fails at AGM

08/18/2023

PDG unveils insurers best practice list amid claims delay

The charter encourages better outcomes for claimants by improving basic levels of Best Practice undertaken by insurers.

08/18/2023

FCA fines Commerzbank London £37,805,400 over anti-money laundering failures

Despite these clear warnings, the failures continued.

08/18/2023

Rishi Sunak commits to retention of state pension triple-lock

As earnings growth exceeded 8% in June

08/18/2023

FCA Consultation Paper on UK Securitisation Rules

This "repeal and replace" process is intended to provide a more agile regulatory framework by giving responsibility for most of the rules to the FCA and the PRA.

08/17/2023

FINMA, CONSOB and Banca d’Italia sign cooperation agreement

This agreement establishes a formalised framework for cooperation and exchange of information between the three authorities

08/16/2023

Addleshaw Goddard: Financial Services & Banking News

The FCA is currently reviewing how financial services firms have applied the PEPs regime and whether changes to our guidance are required.

08/16/2023

CreditNature secures major investment from Scottish Government, NatureScot and CivTech

This agreement follows successful completion of the accelerator stage to build out and test the CreditNature platform.

08/15/2023

UBS to pay $1.4bn to settle fraud claims from 2008 crisis

The bank had previously sought to have the case dismissed, saying prosecutors had not presented evidence of any intentional fraud.

08/15/2023

FCA analysis reveals there are fewer than 1 million interest-only mortgages outstanding

This means borrowers without a repayment plan still have time to act and reduce at least some of their outstanding capital by the end of their mortgage.

08/15/2023

UK – Court of Appeal overrules first instance judge on Bitcoin File Format question

Since some of the defendants were based outside of the jurisdiction, Dr Wright required permission of the court to serve his claim form.

08/14/2023

Q2 2023 Global Regulatory Update

The second quarter saw a multitude of regulatory updates across many key jurisdictions.

08/14/2023

ESA’s Joint Board of Appeal dismisses appeal by Euroins Insurance Group AD against the European Insurance and Occupational Pensions Authority

The appeal was brought in relation to an EIOPA Report assessing the valuation of Euroins’ technical provisions.

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