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Legal, Regulation & Compliance

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.

08/14/2023

Supervisory cooperation in the fight against financial crime is improving, the EBA finds

The Report highlights good practices that will be useful for competent authorities to further improve the effectiveness of AML/CFT colleges and of supervisory outcomes.

08/14/2023

Spain nominates Nadia Calviño to run European Investment Bank

Finance minister will face Margrethe Vestager in race for top job.

08/14/2023

Credit Suisse Shareholders File Suit in Zurich Court

More than 500 people are behind the lawsuit. Shareholders had suffered heavy losses when the bank was rescued by UBS in March.

08/14/2023

UK-based financial advice firm fails

Lifeboat scheme has received five claims related to pension transfers and Sipps

08/14/2023

L&G set to reveal profit hit as insurers tackle new accounting rules

New rules introduced from January this year are expected to hamper reported profits for insurance firms in the short term.

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