07/27/2022
Firms given extra three months to implement FCA's consumer duty
Mills said it will still be challenging for the industry, and the regulator recognises that, so it will “do its best” to support firms.
Legal, Regulation & Compliance
07/26/2022
Banks Start Using Information-Sharing Tools to Detect Financial Crime
Technology can help banks team up to find money launderers, but the legal basis for information-sharing is murky in many countries
07/26/2022
Addleshaw Goddard: Financial Services & Banking News
The changes are designed to reduce the cost of the annual O-SII identification process, both for the PRA and for firms, while continuing to achieve the intended outcome of identifying firms whose distress or failure would have a systemic impact on the UK
07/26/2022
New guidance brings clarity on employment status for workers and businesses
New government guidance will act as one-stop-shop for individuals and businesses to understand which employment rights apply to them.
07/26/2022
Advisers must not approach vulnerability half-heartedly
The new guidance made clear that identifying and supporting vulnerable customers needs to be as systematic as it is consistent, and it needs to be done quickly, too.
07/26/2022
Quilter calls on government to extend the Scheme Pays and Abatement deadline to avoid perfect storm for the NHS
The continuation of the extension of the end of abatement rules, brought in during the pandemic to help allow recently retired NHS staff to return to work and tackle the pandemic without suffering a financial penalty on their pension.
07/26/2022
Central bankers in seven league boots
The currency watchdogs have watched inflation for too long, and this impression is becoming more and more entrenched.
07/26/2022
Investments and lending still account for most FCA action on promotions
Some of the most common breaches involved credit brokers, mortgage intermediaries and investment platforms.
07/26/2022
OneWeb merger with Eutelsat
Government statement on the planned merger of OneWeb and Eutelsat.
07/26/2022
Grant Thornton corporate finance team completes duo of deals
The sale of Asset Plus marks another deal completed in an active built environment sector for Grant Thornton’s corporate finance team.
07/26/2022
EBRD extends RSD 1.2 billion to 3Bank in Serbia
3Bank is a market leader in financing small businesses, farmers and entrepreneurs in Serbia.
07/25/2022
FSCS declares two firms facing BSPS claims in default
These are the latest firms to be declared in default following the BSPS transfer scandal, which saw hundreds of British Steel workers fall victim to unscrupulous financial advisers and lose thousands from misadvised pension transfers.
07/25/2022
Regulators must be more accountable — and not just to government
Regulators should have their decisions scrutinised, given the increase in their powers following Brexit
07/25/2022
Insolvency Service puts Greensill bosses on notice over probe
Officials have written to Lex Greensill and other former directors of the company which bore his name as they explore whether to bring disqualification proceedings against them, Sky News learns.
07/25/2022
Frenkel Topping forms Joint Venture with CFG Law
The joint venture sees CFG Law, part of the Client First Group, provide services jointly with Frenkel Topping’s independent financial advice division, under the trading name CFG Financial Services Limited.
07/25/2022
UK money laundering landscape needs less talk and more action
The result was the drafting of an economic crime bill to counter fraud and money laundering in the UK.
07/25/2022
Pilatus Bank official allowed to leave Malta despite arrest warrant, Repubblika charge
Repubblika file court action against Attorney General and Police over refusal to arrest Pilatus Bank operations supervisor after magistrate signed arrest warrants
07/25/2022
Ogier named Offshore Law Firm of the Year for the second time this month at Chambers HNW Awards
This industry recognition caps a milestone year for Ogier and its Trusts Advisory Group, which provides seamless contentious and non-contentious private client and trusts services to a global client base.
07/22/2022
European Central Bank raises interest rates for first time in 11 years
Bank surprises markets with 0.5 percentage point rise as inflation reaches 8.6% in eurozone
07/22/2022
Former Harlequin boss Ames 'lured' investors in, court hears
A company boss accused of cheating thousands of property investors out of millions of pounds ‘lured’ investors into the scam with deliberate lies, a court heard.