12/08/2022
FSCS confirms 10 regulated firms in default
A default usually means the firms have gone out of business and are unable to meet any claim themselves.
Legal, Regulation & Compliance
12/08/2022
Financial services industry delving into data: the new consumer duty across insurance, asset and wealth management
Much has been written about the Consumer Duty, but an important aspect to hone in on is the role data and analytics can play in the successful implementation of the duty.
12/08/2022
FCA proposes new regime for mainstream UK investment financial advice
The proposals have been made following the regulatory body’s recent Financial Lives survey, which found around 4.2 million people in the UK hold more than £10,000 in investable assets mostly or entirely cash and are open to investing some of i
12/08/2022
Preferred, professional, pragmatic
The depth of the knowledge, expertise and experience of service providers here is world renowned.
12/08/2022
Mourant acquires Luxembourg legal and governance services business
The acquisition will enable Mourant to provide clients with legal, corporate and entity management services from Luxembourg, one of the world's leading international finance centres and the second largest global funds centre.
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.
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