08/23/2022
Banks of UK To Collect Fees for Frozen Russian Accounts
The license corresponds with the package of sanctions imposed against the Russian Federation.
Legal, Regulation & Compliance
08/22/2022
FCA responds to complaints into its regulation of Premier FX
The FCA investigated the circumstances that led to Premier FX's insolvency.
08/22/2022
FCA fines Citigroup’s international broker-dealer £12.6m for failures relating to the detection of market abuse
Citigroup Global Markets’ flawed implementation resulted in significant gaps in its arrangements, systems, and procedures for additional trade surveillance.
08/22/2022
FCA warns Buy Now Pay Later firms about misleading adverts
Unauthorised firms might be committing a criminal offence if they don’t have an FCA-authorised firm approve their financial promotions.
08/22/2022
Change to procedure in English court could help victims of crypto fraud
Cryptocurrency fraud claims have increased in volume significantly over the last 12 to 18 months
08/22/2022
GB Bank receives full banking licence, set to lend £3bn over five years
The Teesside Pension Fund (TPF) has agreed to invest up to £48 million to support the bank’s growth plans.
08/22/2022
EBRD promotes innovative financing for Polish SMEs
The loan of €5 million is the first transaction in Poland under the Bank’s Digital Approach
08/22/2022
CV fraud case highlights need for due diligence in recruitment
The High Court initially granted the confiscation order against Andrewes.
08/22/2022
FCA fines Citi £12.5m for trading oversight failings
These rules mandated that firms monitored all trading activity across a wide range of markets and instruments.
08/19/2022
Liz Truss eyes merger of regulators
It has around 4,000 staff overseeing firms from financial advisers and pension providers to asset managers and large high street banks.
08/19/2022
Graham Bentley: Ready for sustainability preferences under MiFID II?
MIFID II changes will apply to investment managers operating on a cross-border basis, and European advisers, but not to UK advisers or asset managers.
08/19/2022
Bank of London to create 230 jobs in Northern Ireland
Chief risk and compliance officer (UK) Stephen Bell has been appointed as the country head for Northern Ireland.
08/19/2022
Directors of Scunthorpe headstone company banned
Husband and wife directors disqualified after taking customers’ payments while knowing the business was insolvent.
08/19/2022
Regulator removes trustees and charity is wound up after trustee attempted to avoid business rates
The Commission has removed Achiezer from the register of charities, and removed two of the charity’s trustees.
08/19/2022
US SEC’s decision to let MiFID II no-action letter expire could cause problems for both European asset managers and US brokers
The MiFID II regulations that came into effect in Europe in January 2018 unbundled trading and research and pushed almost all European asset managers into paying for investment research in cash.
08/18/2022
UK Government proposes a new approach to regulating artificial intelligence (AI)
Businesses should also consider who is responsible for AI governance and risk management strategy within their organisation and prepare to align their internal AI strategy with the proposed principles.
08/18/2022
Are pay rises the only option for employers wanting to support employees with the cost of living crisis?
The rising energy costs, ongoing supply chain disruption and labour shortages mean that many employers are simply not in a position to permanently raise wages enough to counter the impact of the cost of living crisis on their employees.
08/18/2022
Latest developments in the banking & financial services sector - Addleshaw Goddard LLP.
The residual risk add-on (RRAO) is one of the elements that firms using the alternative standardised approach (ASA) to market risk, are required to calculate under the CRR.
08/18/2022
Negotiating with government to do business is hard, especially when the rule of law is unclear
Negotiating with government, for example, to obtain visas, improve market access through trade agreements, or amend regulations is a cost for business and has unwelcome effects.
08/18/2022
Changes to HMRC’s Trust Registration Service – do the new rules apply to you?
The deadline for affected trustees to register their trusts on the TRS is 1 September 2022.