07/04/2022
A new trading rule to prevent another 2008 crisis is almost here – and it could blindside 800 firms
Phase six of the uncleared margin rule, or UMR, for derivatives kicks in on 1 September
Legal, Regulation & Compliance
07/01/2022
Addleshaw Goddard: Financial Services & Banking News
The blog states that if the FOS believes a business has treated a customer unfairly or made a mistake, then it will ask the business to put things right, usually by putting the customer back to the position they would have been in if the problem had not o
07/01/2022
Bankhall and PMS add adviser panel for protection referrals
The panel’s formation follows Sesame Bankhall Group’s ‘Protection Pledge’ adviser campaign, which attempts to commit advisers to talk about the need for protection with every client.
07/01/2022
Watchdog lets Sberbank Swiss unit pay creditors, points to sale
FINMA on Friday said the bank had since stabilised its financial situation
07/01/2022
New regulations solve cross-border hybrid hearing issues
As a result, fully remote hearings could be live streamed with the permission of the court. However, these provisions did not apply to hybrid hearings.
07/01/2022
Whose ‘best interests’ are really at heart in the UK Court of Protection?
With this approach there is far more room for discourse and nuance.
07/01/2022
FCA resolves High Court proceedings in relation to unauthorised deposit taking
The FCA sought orders to stop the activities continuing, to freeze up to £1.3m in assets, declarations of breaches and the return of money to victims.
07/01/2022
Finding opportunity in a world of uncertainty
This new Consumer Duty expects firms to not just prevent harm, but to show that they are actively trying to meet their customers’ needs – in product design, in how products are described and sold and in post-sale customer service.
07/01/2022
EU – New Zealand Trade Agreement: Unlocking sustainable economic growth
Bilateral trade is expected to grow by up to 30% thanks to this deal, with EU annual exports potentially growing by up to €4.5 billion.
06/30/2022
Charities warned to expect extra scrutiny from the public during the UK cost-of-living crisis
As a result, the financial management of charities is likely to be the subject of intensified public and media attention as society faces “one of the toughest economic climates in a generation”.
06/30/2022
Ministers unveil reforms to UK’s anti-money laundering regulations
Pencheva said: “This requirement is a quasi-‘change in control’ process for cryptoasset firms."
06/30/2022
EBRD offers new funds to Kazakhstan’s Bank CenterCredit
The loan will be supported by grant funds from the EU Investment Facility for Central Asia under the Regional Small Business Programme for Central Asia.
06/30/2022
FCA warns adviser ties with lifetime lenders leads to ‘conflict of interest’
Lenders relying on intermediaries should have “clear policies” and be able to evidence the due diligence carried out at the outset of any relationship, the FCA said.
06/30/2022
Gloucestershire firm appoint six new invested directors
The new team will be bringing over 80 combined years of legal and marketing experience to the table as well as fresh, new ideas on the direction of WSP Solicitors work in the county.
06/30/2022
12 French banks taken to court for not reimbursing fraud victims
Consumer group accuses banks of too often placing the blame on clients over frauds when they are not at fault
06/29/2022
BoE is being a reckless parent
At a time of rising consumer indebtedness, removing any affordability criteria is not a move to be applauded.
06/29/2022
Simplification of UKCA product marking process ‘cautiously welcomed’
The new mark covers most goods which previously required the ‘CE’ marking and reverse epsilon markings that are applied to products in the European Union.
06/29/2022
UK Building Safety Act’s impact on defective premises claim limitation periods
The reform, one of the most controversial aspects of the BSA, will require businesses in the construction industry to review their positions under the new regime.
06/29/2022
FSCS chief: 78% of claims linked to advice as compensation rises
Rainbird explained that a key priority for FSCS is reducing instances of consumer harm, arguing that it is impossible to ignore the part that financial advice plays in it.
06/29/2022
FCA sees 'clear rationale' for regulatory oversight of ESG data providers
Mixed feedback on UK green bond standard