11/07/2022
FCA ramps up intervention on rogue financial promotions
The FCA highlighted that it had seen several cases involving unauthorised firms and individuals seeking to take advantage of the rising cost of living.
Legal, Regulation & Compliance
11/07/2022
European Commission issues revised informal guidance notice suitable for "Green Deal" and other innovative projects
This Revised Notice follows recent statements made by the Commission that emphasise an ever-increasing focus on Green Deal principles in relation to clean energy, agriculture, transport and sustainable innovation.
11/07/2022
PRA publishes letter
Letter from David Bailey and Melanie Beaman ‘Asset finance sector – key themes and control weaknesses identified post-administration, in relation to the Arena Holdings Group of companies’
11/07/2022
A Leaf Through Key Considerations Relating to Green Lease
The alterations clause may also provide that the tenant may not make any alterations which may adversely affect the Building Energy Rating ("BER") or environmental performance of the premises.
11/07/2022
Deutsche Bank to issue Additional Tier 1 capital instruments
Issuance of these securities is covered by the authorization granted by the Annual General Meeting in 2022.
11/04/2022
Financial Ombudsman Service publishes its latest quarterly complaints data
The Financial Ombudsman Service continued to uphold 34% of complaints in the consumers’ favour.
11/04/2022
Bank of England raises interest rates to 3%
Both dissenters wanted to raise rates at a lower rate, with one voting to raise the rate by 0.5 percentage points, and the other voting for 0.25 percentage points.
11/04/2022
£12 million compensation to be paid to thousands of struggling borrowers
The FCA expects lenders to learn the lessons from good and poor practice during the coronavirus (Covid-19) pandemic to help borrowers during the cost-of-living squeeze.
11/04/2022
Withers tech advises as SI2 Fund leads a £550k investment into We Are Digital
SI2 Fund invests in social enterprises that offer breakthrough solutions to the societal challenges of our time.
11/04/2022
2023 finance bill would implement EU solidarity contribution for fossil fuel sector
In line with the EU regulation, if the average taxable result for the previous four years is a loss, the average would be deemed to be zero, and the solidarity contribution would be due on the first euro of taxable result for FY22.
11/04/2022
Addleshaw Goddard: Financial Services & Banking News
The individual criteria for the application of the ISF were mostly assessed as acceptable and easy to verify by these banks.
11/03/2022
Decision of the Court of Appeal - R (Sutton) v Financial Conduct Authority
An application to judicially review the FCA’s decision was brought by the UK subjects to overturn the decision to seek evidence from them.
11/03/2022
Building trust in macroprudential policy − speech by Colette Bowe
Given at the Annual Maxwell Fry lecture, Birmingham University Business School
11/03/2022
FCA's key priorities for the financial advice industry
Birmingham has been on a roll this year, and not just in sport with the Commonwealth Games, but being an important and substantial financial and professional services hub.
11/03/2022
FINMA publishes partially revised FINMA Anti-Money Laundering Ordinance
FINMA also recognised the regulations issued by the SRO-SIA, which have been adjusted to reflect the revised regulatory principles, as a minimum standard.
11/03/2022
Withers tech advises as climate fund ETF Partners leads on £10 million Series A investment
Withers tech is the technology, life sciences and venture capital focused team at international law firm Withers.
11/03/2022
Disclosure requirements and product labels among FCA ‘greenwashing’ proposals
The labels reflect different sustainability objectives – rather than being a hierarchy with one label regarded as better than another.
11/02/2022
FCA prosecutes five individuals for role in 'all-or-nothing’ investment scheme
It is alleged that that money was used to fund their lifestyles, rather than the binary options investments that were advertised.
11/02/2022
Addleshaw Goddard: Financial Services & Banking News
The methodology is aimed at National Competent Authorities and outlines a common European approach on how to identify unit-linked products which may offer poor or no value for money and require a close monitoring by the NCAs.
11/02/2022
European Commission publishes study on options for a unified SPC system
While the EU SPC Regulation provides for harmonised framework for granting SPCs, SPCs are national rights which must be registered in individual EU member states for them to have effect there.