06/09/2023
FCA investigating Odey Asset Management as Crispin Odey faces sexual assault allegations - reports
Two brokers reported to be reviewing ties
Legal, Regulation & Compliance
06/09/2023
Privilege case helps clarify limit of legal confidentiality in Scots law
The university had already handed over a later version of the report that had been edited by its legal team.
06/09/2023
PIMFA warns of ‘halo effect’ from FCA marketing rules for crypto-assets
Crypto-assets are not regulated, are highly volatile and therefore high risk and should only be invested in by sophisticated investors that understand the risk they are taking, not mass market investors.
06/09/2023
Addleshaw Goddard: Financial Services & Banking News
All cryptoasset firms marketing to UK consumers, including firms based overseas, will need to comply with the UK financial promotions regime from 8 October 2023.
06/08/2023
FCA seeks to expand firms’ obligations to borrowers in financial difficulty
The FCA has been alive to this.
06/08/2023
UK export control law breaches attracting million pound civil penalties
Keen said: “The recent stats show that compound penalties around the million pound mark for breaching the UK’s export control laws are no longer uncommon.”
06/08/2023
Commerzbank files lawsuit with Frankfurt District Court for vacation of Gallileo building
Under the contractual agreement, Commerzbank is obliged to hand over a vacated building.
06/08/2023
FCA introduces tough new rules for marketing cryptoassets
The new rules come into effect as research from the FCA shows that the estimated crypto ownership has more than doubled from 2021 to 2022
06/08/2023
New Date Set in UBS French Money Laundering Case
The appeals court fell well short of the 2019 first-instance ruling, which had ordered UBS to pay 4.5 billion euros.
06/07/2023
Scottish Building Society selects Iress’s MSO as it enters new growth phase
Scottish Building Society selected MSO to enable it to optimise efficiencies, adapt to changing market conditions and deliver intelligent and engaging customer experiences.
06/07/2023
UBS Gets Breathing Room for Higher Capital Requirements
Globally systemically important banks have more stringent capital requirements than their smaller counterparts, and the additional time gives UBS more leeway to manage the complicated transaction.
06/07/2023
European advisers are ‘confused’ over Mifid II suitability compliance
Some firms have reportedly been asking clients to sign off their own risk level
06/06/2023
We force a further three firms to reverse effects of misleading British Steel Pension Scheme offers
All 3 firms will now be required to ensure that consumers who accepted these unsolicited offers are treated in the same way as customers who did not.
06/06/2023
Three IFA firms forced to withdraw offers to former BSPS members
FCA is ‘seriously concerned’ that they ‘were not calculated’ in line with its guidance
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
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.