11/24/2022
PFS creates Consumer Duty guide for advisers
To help IFAs understand the FCA’s expectations for the incoming regulation
Legal, Regulation & Compliance
11/24/2022
Pensions disputes: Ombudsman relies on telephone recordings to make determination
During the telephone calls between Mr A and the provider, the provider strongly recommended that Mr A seek financial advice to inform his decision.
11/24/2022
Government U-turns on regulation call in power
Statement from the Treasury
11/24/2022
Government under fresh pressure to keep EU rules
Retained EU Law Bill
11/23/2022
Non-EU businesses should prepare for new EU rules on sustainability reporting
As a result, more and more countries have started to introduce national legislation in respect of how companies should conduct business to comply with human rights and reduce their impact on the environment.
11/23/2022
Addleshaw Goddard: Financial Services & Banking News
Consistent with their respective objectives, the FCA, the Bank of England and other relevant financial regulators and government departments will sit as active observers to this group.
11/22/2022
The EU Digital Services Act and the Article 6 hosting exemption
Isaac Bedi and David Varney consider the relationship between the exemptions from liability for ISPs and the notification requirements under the new DSA
11/22/2022
How UK and EU strong customer authentication rules differ
In recent months clear differences have begun to emerge between the two as authorities in the UK and EU have begun to update their respective SCA requirements.
11/22/2022
European regulator drafts guidelines for ESG fund names
The regulator is particularly focused on whether it makes sense to have quantitative thresholds for the minimum proportion of investments needed to support a fund with ESG or sustainability in its name.
11/22/2022
Dentons advises UK government on energy prices measures
Dentons mobilised a team of lawyers from energy, public law, and various other disciplines from across our UK firm to undertake this significant project, which is ongoing.
11/22/2022
FCA unaware how many of its staff worked in financial services
The regulator also does not know how many of its staff members previously worked as financial adviser or for a financial advice firm.
11/21/2022
Addleshaw Goddard: Financial Services & Banking News
This review will inform the FSB’s assessment of the effectiveness of its 2017 policy recommendations to address structural vulnerabilities from liquidity mismatch in open ended funds.
11/21/2022
EU and UK propose stronger NIS incident reporting requirements
All medium-sized and large companies in selected sectors would fall under the legislation.
11/21/2022
Novia cuts platform charges
This charge will be £525 for those firms holding up to £10mn of AUA.
11/21/2022
Irish Central Bank to clarify KIDs reporting obligations for UCITS funds
The standardised documents make it easier for retail investors to compare products to each other and require firms to consider how their products will fare when distilled down to a uniform product description.
11/18/2022
UK government commits to ‘unsustainable’ pension triple lock
Calls for system to be assessed to find a ‘fairer way’ to raise the state pension
11/18/2022
Addleshaw Goddard: Financial Services & Banking News
The FOS will therefore continue to look at alternative options and will consult on those that it believes will result in a fairer charging mechanism at the appropriate time.
11/18/2022
FCA issues final notice to former Sonali Bank CEO for AML failings
The FCA initially decided to impose a financial penalty of £76,400 on Mr Prodhan in May 2018.
11/18/2022
FCA issues Final Notice to former CEO for anti-money laundering failings
As a result of these failings, SBUK’s staff did not appreciate the need to comply with AML requirements, and the MLRO function was ineffective in monitoring their compliance.
11/17/2022
Bank of England's Andrew Bailey believes mini-budget damaged UK’s reputation
Governor says the UK's name 'has taken a knock' after the mini-budget crisis