02/20/2022
Financial Regulation Daily Update
The FCA also reminds firms that it is a criminal offence to proceed with transactions before it has made a decision or before the statutory assessment period has expired.
Legal, Regulation & Compliance
02/18/2022
Financial Regulation: Daily Update
The report also highlights considerations for the regulatory framework and how it can support the adoption of AI.
02/18/2022
Firms still need certainty and time to implement FCA’s Consumer Duty
More broadly, PIMFA argues the proposed implementation period of nine months is insufficient and does not reflect the importance the FCA has itself placed on the Duty’s wider impact on financial services.
02/18/2022
FSCS pays out £31.6mn on failed wealth manager
Compensation to date has come to £31.6mn, with a large part of this relating to return of funds as part of a transfer to a new broker.
02/18/2022
UK closes Tier 1 Investor visa route: what are the alternatives?
The Investor visa was a popular option for high net worth individuals looking to settle in the UK, but there are other options available, including a new ‘Scale Up’ visa due to be introduced shortly.
02/18/2022
Green Deal: EU invests over €110 million in LIFE projects for environment and climate in 11 EU countries
The projects contribute to a green recovery from the COVID-19 pandemic and support the European Green Deal's objectives of making the EU climate neutral and zero-pollution by 2050.
02/18/2022
Financial Services & Banking Cross Sector
Such rules include banning cold calling and all commission payments to intermediaries to make sure products offer fair value.
02/18/2022
City bankers face rerun of crisis-era criticism over bonuses
Bailey’s tin-eared comment on workers’ wage restraint makes timing of bumper payouts tricky
02/18/2022
UK ruling referred to CJEU in post-Brexit first
According to state aid and trade law specialist Dr. Totis Kotsonis of Pinsent Masons,this case raises a number of interesting points.
02/18/2022
Providers take aim at FCA’s personal pension cash ‘warning’
Aegon does not think these should be called 'warnings' at all
02/17/2022
Legacy Systems in Banking: Using Automation to Minimise Risk
Banks that continue to conduct reconciliation using outdated legacy systems will ultimately lack the data quality, visibility and transparency required by modern regulators.
02/17/2022
Addleshaw Goddard: Financial Services & Banking News
The aim of this report is to present a comprehensive and practical approach to the EU Taxonomy
02/17/2022
UK to scrap golden visa scheme for foreign investors
Holders of these visas can then apply for permanent residency in the UK, at a speed depending on how much they invest.
02/17/2022
Assessment of Risks to Financial Stability from Crypto-asset
Direct connections between crypto-assets and systemically important financial institutions and core financial markets, while growing rapidly, are limited at the present time.
02/17/2022
Derivatives trading: Commission plans to expand EU-based clearing capacity
A CCP is an intermediary in derivatives trading that buys derivatives from one party and resells them to the other.
02/17/2022
FCA launches consultation on pension provider dashboard rules
It follows a similar consultation published at the end of last month by the Department for Work and Pensions
02/16/2022
FCA stops AJH Financial Services disposing of assets without permission
The Financial Conduct Authority (FCA) has stopped AJH Financial Services Limited, a firm that advised on transfers from the British Steel Pension Scheme (BSPS), disposing of assets without FCA permission.
02/16/2022
HMRC’s NFT seizure ‘unlikely to be the last’
“The fact that money laundering now turns to investments in digital assets itself brings us to the next level of online crime,” said Nils Rauer, expert for digital transformation at Pinsent Masons.
02/16/2022
UK Digital Right to Work Checks
The UK Home Office categorises employees into ‘Settled’ and ‘Pre-Settled’ status.
02/16/2022
Financial Regulation: Daily Update
Firm’s responsible for value measures reporting must submit their first report (for the 6-month period covering 1 July 2021 to 31 December 2021) by 28 February 2022.