08/16/2022
Proposed DWP regulations on DB scheme funding will accelerate pension liability buy-outs and the demise of DB schemes
Mercer questions whether the accelerated demand could be met by current market participants
Legal, Regulation & Compliance
08/15/2022
Advice firms with over 50 IFAs rose 17%
Firms providing restricted advice accounted for 37%.
08/15/2022
Paul Hastings Represents Arrangers and Funds in £2 Billion Acquisition of Ultra plc
The debt financing comprised a package of senior secured TLB and RCF, privately placed senior unsecured notes and privately placed floating rate PIK toggle notes.
08/15/2022
Screening of third country transactions in Ireland to become the norm
Parties must also notify the minister if such a transaction involves the use of critical technologies such as artificial intelligence, cybersecurity, and defence, as well as the supply of energy, raw materials or food.
08/15/2022
PwC scraps 2:1 entry requirement for graduates as City war for talent heats up
EY has already scrapped the threshold.
08/15/2022
Supreme Court decision highlights complexity of the UK’s tax system
This could be because the computation of the corporate tax base in the UK is complicated and requires a nuanced understanding of different factors – a point highlighted by the Supreme Court earlier this year.
08/15/2022
4C Labs granted medical cannabis licences by UK’s regulatory authority
The licences also enable 4C labs UK to distribute cannabis based medicines to registered UK and Channel Island Pharmacies.
08/12/2022
Marlin Capital Partners expands Apex Group partnership
This extends Apex Group’s existing partnership with Marlin, having been appointed in 2021 to provide outsourced Management Company, Middle Office and Fund Administration services to the Marlin Money Market Fund.
08/12/2022
Addleshaw Goddard: Financial Services & Banking News
The letter raises concerns about the PRA's proposals for the strong and simple prudential framework for non-systemic domestic banks and building societies.
08/12/2022
'Utterly dishonest' Axiom fraudster gets 14-year sentence
All the money vanished when the firm went bust. Schools received £19.5mn from the Cayman Islands-registered fund, using some of the money to buy an estate in Cumbria.
08/12/2022
SJP to compensate wife of partner over 'unsuitable' pension advice
It would not be unreasonable for SJP to assume that its appointed representatives could make informed decisions for themselves.
08/12/2022
FCA publishes policy statement on improvements to the Appointed Representative regime
The FCA has introduced a transitional period for the self-assessment document, allowing principals up to a year after the rules come into force
08/12/2022
Compare The Market ruling ‘not green light’ for price restriction clauses
It remains to be seen whether the CMA will appeal the CAT ruling to the Court of Appeal in London.
08/12/2022
Restricted cover is greatest threat to trust
One in five said automation of processes could prove to be the biggest threat to public trust in the insurance profession.
08/12/2022
Esma warns new foreign clearing house rules could backfire
Löber says euro swaps trading may move away from CCPs that face toughest EU scrutiny
08/11/2022
Government 95% mortgage guarantee scheme suffers disappointing take up
The latest data shows 15% of all mortgages completed using the government scheme were not first-time buyers, showing the scheme is proving relatively popular among other borrowers.
08/11/2022
EDF sues French government for £7bn after being forced to sell energy at a loss
Company has to sell power at prices below market rates as ministers try to tackle cost of living crisis and support households
08/11/2022
Fears mount on ‘race to the bottom’ as UK’s post-Brexit trading rules take shape
Caps to limit trading in dark pools are set to be scrapped by both jurisdictions, sparking worry for Susquehanna International
08/11/2022
EU Cohesion Policy: €76 million for a just climate transition in Austria
The green economy is our future and the Just Transition Fund is here to support a smooth and fair green transition in Austria's regions that face the steepest path to climate neutrality.
08/11/2022
CISI warns managers of workplace 'banter'
The research surveyed almost 750 individuals, 43 per cent female and 55 per cent male.