09/01/2022
EY talks on multi-billion-dollar split drag on amid snags: ‘It’s a very lengthy process’
EY’s management had hoped to make a call on whether to split the firm by the end of August, but roadblocks remain
Legal, Regulation & Compliance
09/01/2022
Rowanmoor Personal Pensions enters administration
This is because the pension scheme assets (including cash) are held in trust by Rowanmoor Trustees Limited (RTL), which has not entered administration.
09/01/2022
FSMA Warns against Fraudulent Offers by Five Wealth Management Firms
False promises made by wealth management firms.
09/01/2022
Maltese advice firm and directors charged over $75m fraud
The company and one of the executives were also named in the Paradise Papers leak
08/31/2022
Energy price cap: smart meters could ‘offer some relief’
The price cap, which is set every three months, limits the maximum amount energy companies can charge households for each unit of energy they use.
08/31/2022
The EIB backs Tapojarvi with EUR 18 million to reduce the environmental footprint of the steel industry
The project will also cover the initial testing and ramp-up phases to transform the slag into valuable by-products and reduce landfilling.
08/31/2022
Co-operative Bank ordered to refund mortgage ERC
Porting a mortgage is the process of taking an existing mortgage deal on the current property and transferring it to another home.
08/31/2022
Fast-track planning route to speed up major infrastructure projects
Major infrastructure projects such road improvements and offshore wind farms will be delivered more quickly through a new fast-track planning route.
08/30/2022
BSPS redress scheme likely to be challenged at court by campaigners
The group submitted evidence to the now concluded Public Accounts Committee’s inquiry into BSPS.
08/30/2022
Completion of BNP Paribas Jersey Trust Corporation Limited
This latest deal will bring additional scale and local expertise to ZEDRA’s already fast growing Jersey office.
08/29/2022
PRA and FCA conclude investigations into senior managers in relation to the 2008 failure of HBOS plc
The Authorities’ joint investigations considered the performance of certain former senior managers at HBOS in the years before its failure.
08/29/2022
Euro zone bond yields shoot up to two-months highs on hawkish ECB, Fed
Comments from Federal Reserve Jerome Powell, speaking at the Jackson Hole central banking conference in Wyoming, added to the unease in bond markets over rapidly rising rates to contain inflation.
08/29/2022
Andy Bell: Common sense failure risks good work on pension transfers
Pension scam protection is vital but some trustees are determined to only consider the ‘letter of the law’ and not to apply common sense
08/29/2022
Scots court issues ‘timely reminder’ on interpretation of terms in contracts
McLure remains a 40% shareholder in the company, which provides support services to the oil and gas industry.
08/26/2022
Insurance woman wins discrimination lawsuit against Swiss Re
Sommer says she was passed over for two managerial positions while she was on maternity leave, despite having more experience than those hired later.
08/26/2022
UK Online Safety Bill updated to require content to be assessed in context
In a separate factsheet, the government highlighted other new clauses it has added to the Bill, which are designed to enhance protections for journalism.
08/25/2022
Addleshaw Goddard: Financial Services & Banking News
The FCA are now seeking expressions of interest from external experts to join the Committee
08/25/2022
Germany plans new financial crime authority in bid to tackle money laundering
With the new authority, the finance ministry hopes to make it easier to tackle complex international money laundering cases, which have long been a weak spot for the country.
08/25/2022
FCA board approves final appointed rep rules
The final minor changes include reducing the pre-notification period from 60 to 30 days.
08/25/2022
FCA plans to broaden retail access to LTAFs ‘may not go far enough’
LTAFs are intended to help better manage the liquidity risk of long-term illiquid assets