06/21/2022
CP6/22 – Model risk management principles for banks
The response will be assessed to inform our work as a regulator and central bank, both in the public interest and in the exercise of our official authority.
Legal, Regulation & Compliance
06/21/2022
The Bank of London invests in Belfast and creates over 200 new jobs
To build the future of finance, we need to be where the future is,” says Anthony Watson, founder and group CEO of The Bank of London.
06/21/2022
Whistleblowing moving up govt agenda despite FCA shortcomings
A reporting individual has a dedicated case manager, is able to meet with the FCA to discuss any concerns and can receive optional regular updates throughout the investigation.
06/21/2022
Bank policymaker calls for faster rate rises to prevent weak pound fuelling inflation
Catherine Mann says Bank of England’s MPC is in danger of falling behind rival central banks
06/21/2022
Government to make it simpler for businesses to apply new product safety markings
Changes will make it simpler for businesses to apply new product conformity markings for most products placed on the market in England, Scotland and Wales.
06/20/2022
Carey Olsen named as a finalist in the 2022 eprivateclient Excellence Awards
Carey Olsen has previously enjoyed success at the awards, having won the Offshore Law Firm (multi-jurisdiction) category at the inaugural eprivateclient Excellence Awards in 2021.
06/20/2022
Ofgem to announce measures aimed at protecting money of energy customers
Regulator says shake-up is designed to cut risk of suppliers going bust and will change rules on credit balances in event of collapses
06/20/2022
UK government needs long-term plan for higher wages, not a fight with workers
While Boris Johnson plays politics, Britain’s public sector is fraying at the seams
06/20/2022
Another HSBC Manager Pulled into Cum-Ex Vortex
Von Schmettow headed the Duesseldorf-based bank, which formerly traded as HSBC Trinkaus & Burkhardt, from 2015 to 2021.
06/20/2022
Addleshaw Goddard: Financial Services & Banking News
The new rules coming into force in July will require all funeral plan providers to adhere to FCA rules including a ban on cold calling and commission paid to intermediaries.
06/20/2022
Regulators must be more transparent with data use, says FCA boss
Rathi explained that the policy challenge for the future will be about complexity and breadth, both in the AI and data space.
06/20/2022
How grandparents are facing more restrictions than oligarchs
This is designed, ministers explained, to require anonymous foreign owners of UK property to reveal their real identity to ensure criminals cannot hold houses in secretive chains of shell companies.
06/17/2022
Major Win for Gowling Wlg at the Managing IP EMEA 2022 Awards
MIP selects the winners of each category for their outstanding IP achievements and developments over the last year.
06/17/2022
Financial Services and Banking News
The BCBS states that the purpose of the principles is to promote a principles-based approach to improving risk management and supervisory practices related to climate-related financial risks.
06/17/2022
FCA tells lenders to support consumers struggling with the cost of living
The FCA is also concerned that some customers in vulnerable circumstances are not getting the support they need.
06/17/2022
Addleshaw Goddard: Financial Services & Banking News
ESMA notes that the approval process for the aforementioned Delegated Act may take some time and that the extension provided for by the Delegated Act will, most probably, not have entered into force by the end of the current temporary exemption.
06/17/2022
Bank of England fails to keep up with Fed
After today’s 0.25% increase, there is a risk interest rates rise more than anticipated given “second round” inflation pressures
06/17/2022
Ashman receives UK banking licence
The SME commercial lending market remains underserved with 50%[2] of SMEs surveyed saying they are unable to access finance and 84%[3] being frustrated by slow decision-making and inflexible credit offerings.
06/16/2022
Summary of the Main Proposals included in HM Treasury’s Responses to the ‘Review of the UK Funds Regime: A Call for Input’
The asset management industry is important as it plays a critical role in economic growth by providing funds to businesses throughout various stages of the lifecycle.
06/16/2022
German court rules on admissibility of claims bundling for foreign law claims
The case related to a German claims management company which had claims for damages from car owners in Switzerland assigned to it in the Diesel context in order to bundle these claims and jointly enforce them in the German courts.