06/23/2022
FCA fines insurance broker JLT Specialty Limited £7.8m for financial crime control failings
JLTSL placed business in the London reinsurance market for JLT Re Colombia, another company in the JLT group.
Legal, Regulation & Compliance
06/23/2022
UK Pensions – Enhanced climate change reporting requirements from 1 October
Trustees now need to get up to speed quickly with these new requirements, as well as watching this space for further developments in this rapidly evolving area.
06/23/2022
Irish Central Bank: insurance platforms must ensure suitability of senior staff
Ireland continues to be among one of the most attractive locations within the EU to establish an insurance or reinsurance intermediary (together, ‘intermediary’) platform.
06/23/2022
Confederation arranges for implementation of OECD minimum tax rate in Switzerland
The supplementary tax is limited to large corporate groups with worldwide turnover of at least EUR 750 million
06/23/2022
Changes to FCA Firm Reference Numbers (FRNs) and Product Reference Numbers (PRNs)
The Financial Conduct Authority (FCA) published a statement on the plan to move to a seven-digit FRNs and PRNs for newly registered firms and funds.
06/23/2022
Rockwood Strategic says corporate dispute led to 'significant costs'
£1.1m for corporate actions
06/22/2022
German central bank believes retirement age must be linked to life expectancy
Since 1871, the life expectancy in Germany more than doubled to currently 78.6 years for men and 83.4 years for women, according to the Federal Statistical Office (Destatis).
06/22/2022
British Lawmakers Urge Wimbledon to Drop HSBC Sponsorship
This is not the first time that sporting event organizers were criticized for partnerships with banks in Hong Kong that backed the security law.
06/22/2022
Addleshaw Goddard: Financial Services & Banking News
The Recommendations were introduced to guard against a loosening in mortgage underwriting standards and a material increase in household indebtedness.
06/22/2022
Publication of 2021 FIAU Annual Report
These changes present challenges on all levels of operations, be it intelligence, supervision and enforcement.
06/22/2022
A tale of two markets: Regulatory divergence between the EU and UK securitisation frameworks
It will be interesting to see how these approaches shape the (two) market(s) as divergence increases.
06/22/2022
Obtaining imaging orders from the English courts
The goal of these orders is to preserve evidence at risk of being wiped or destroyed by the responding party.
06/22/2022
UK prepares for modernisation of Consumer Credit Act
HM Treasury announced it would publish a consultation on the planned reforms to the Consumer Credit Act (CCA) by the end of 2022.
06/22/2022
Advice firm unveils portfolio management service
It will feature a mix of active and passive funds
06/21/2022
Investment firm charged over selling high-risk bonds to retirees
Products were ‘only suitable for customers with substantial financial resources’
06/21/2022
Withdrawal of mortgage affordability rules baffling amid interest rate and inflation rises
With interest rates starting to creep up to meet the damaging impact of inflation and soaring energy and food prices you would think that people's ability to afford their mortgage should really be under the spotlight now.
06/21/2022
UK monetary policy in the context of global spillovers – speech by Catherine L. Mann
Given at a Market News International Connect event
06/21/2022
220,000 businesses urged to move onto new single customs platform
Businesses are being urged to move onto HMRC's new single customs platform before 30 September 2022.
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.
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.