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
Legal, Regulation & Compliance
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.
05/30/2023
Ex-director alleges Scottish Mortgage misled investors in FCA complaint
Amar Bhidé has written to the Financial Conduct Authority complaining that the company failed to properly address his concerns about how it selected new members of its board.
05/30/2023
B&G investor to finally receive full compensation after FOS decision
These mini-bonds were mis-sold to retail customers in a scandal that is felt to this day.
05/26/2023
RSH publishes regulatory judgement for East End Homes Limited
East End Homes Limited is non-compliant with the governance element of the economic standards and has been downgraded to G3 status.
05/26/2023
Lenders to pay out up to £47m in redress to borrowers in difficulty
The FCA has so far secured up to £47m of redress from 17 of these firms for over 195,000 customers.
05/26/2023
Company for the 'ultra-rich' had rights breached by €373,000 FIAU fine
Court says law did not assure Insignia Cards Ltd right to a fair hearing
05/26/2023
Carey Olsen named Offshore Law Firm of the Year by Chambers Europe
Winners across the 26 categories were selected based on extensive research and client interviews conducted by a team of more than 200 research analysts.
05/26/2023
Joint statement from FCA, PRA and Bank of England on the government’s proposed amendments to the CCP run-off regime
The regulators recognise and fully support the intention to facilitate the continuity of these clearing services to UK firms consistent with the original amendment
05/25/2023
ESMA reports points out improvements needed in supervision of asset valuation
The CSA was launched in January 2022, with the aim of assessing, fostering and enforcing the compliance of supervised entities with the organisational requirements with respect to asset valuation.
05/25/2023
FCA finds young investors are more likely to have long-term goals in mind when dating than when investing
New research from the FCA has found that young investors think longer-term and are less influenced by social media when dating compared to their investing behaviours.