08/09/2022
PwC fined £2.5m over BT fraud audit failures
One of the firm’s former audit partners was fined £60,000
Legal, Regulation & Compliance
08/08/2022
JetBlue Airline boss over-hiring to beat staff exodus
Airlines have cut summer schedules and made last-minute cancellations.
08/08/2022
City workers get double-digit wage rises while lowest-paid see 1% increase
Report finds ‘tale of two labour markets’ as workers in London’s financial district enjoy inflation-busting increases
08/08/2022
PS7/22 | CP3/22- Responses to Occasional Consultation Paper – March 2022
The implementation date for the policy changes set out in chapters 2, 3, 4, 5, 7, and 8 of this PS is Thursday 1 September 2022.
08/05/2022
Bank of England shows new focus on inflation
Central bank accelerates rate hikes with 0.5% increase, but dire forecasts signal rates may not go as high as previously feared.
08/05/2022
Outsourcer Serco to hand out total of £9m in one-off payments to staff
The payments will be made to staff outside management grades
08/05/2022
Explanatory Note: Managing the operational implications of APF
During the course of 2022, the Monetary Policy Committee began reducing the stock of assets held in the Asset Purchase Facility to meet its monetary policy objective.
08/05/2022
Bank of England increases interest rates by 0.5 percentage points – how to make more of your savings
The Bank of England has raised interest rates by 0.5 percentage points to 1.75%. Here’s what it means for savers and how they can make more of their savings.
08/04/2022
FCA confirms new rules to improve oversight of Appointed Representatives
Principal firms are responsible for ensuring their ARs comply with our rules.
08/04/2022
Addleshaw Goddard: Financial Services & Banking News
The FCA has confirmed that although at this stage it will not intervene it will continue to monitor the market and may intervene in future if it sees evidence of practices similar to that previously seen in the General Insurance market.
08/03/2022
FCA proposes DB transfer redress be paid into a DC scheme
Some schemes may also no longer exist, having wound up and there is no legislation which compels trustees to accept former members who transferred out.
08/03/2022
We consult on changes to redress calculations for unsuitable pension transfer advice
Redress aims to put consumers back in the position they would have been in had they remained in their DB scheme.
08/03/2022
FCA issues an update on switching in the mortgage market
Given the rising cost of living, it’s important that borrowers consider their options and switch if they can where it meets their needs and circumstances and saves them money.
08/03/2022
FCA to open Leeds office in September with 100 new jobs
The FCA’s Digital Delivery Centre will be based in Leeds alongside other key FCA business teams.
08/03/2022
Addleshaw Goddard: Financial Services & Banking News
The FCA consulted on these rules, which are a key part of its Consumer Investments Strategy to deliver a consumer investment market that works well for people who want to invest with confidence, in January 2022.
08/03/2022
Germany’s BaFin clarifies rules for fund distribution and pre-marketing
In Germany, this means that almost every exchange between the fund manager and a potential professional or semi-professional investor about a yet-to-be-set-up investment fund now falls under the term ‘pre-marketing’ and thus under the newly cr
08/02/2022
BoE figures show cooling of 'frenetic' property market
But borrowing remains above the pre-pandemic average of £4.3bn in the 12 months up to February 2020.
08/02/2022
FCA to impose marketing restrictions for high-risk investments
Under the new rules, companies will need to use clearer and more prominent risk warnings.
08/02/2022
Ex-financial adviser jailed for three years
She was previously sent to prison in 2009 for stealing from her clients
08/02/2022
FCA clamps down on marketing of high-risk investments to consumers
As part of its Consumer Investments Strategy, the FCA want to reduce the number of people who are investing in high-risk products that do not reflect their risk appetite.