11/18/2021
Financial Regulation: Daily Update
The FCA expects that any new rules resulting from CP21/30 would could come into force in April 2022.
Legal, Regulation & Compliance
11/18/2021
FCA proposes ban on debt packager referral fees to protect consumers
The FCA has seen evidence of debt packagers appearing to have manipulated customers’ details so that they meet the criteria for IVAs/PTDs, and used persuasive language to promote products without explaining the risks involved.
11/18/2021
FCA: Debt packagers: proposals for new rules
If consumers do not receive advice which meets our standards, they may end up on unsuitable debt solutions.
11/18/2021
Financial Services and Banking News
The consultative document includes 18 high-level principles. Principles 1 through 12 provide banks with guidance on effective management of climate-related financial risks, while principles 13 through 18 provide guidance for prudential supervisors.
11/18/2021
UK government publishes guidance on security rules for tech takeovers
National Security and Investment Act 2021 give ministers power to halt M&As
11/18/2021
Frenkel Topping enters sixth joint venture
Ralli managing director Martin Coyne, lead partner Adrian Anderson and partner Stephen Fox, will act as directors of Ralli Financial Services alongside Frenkel Topping's group chief executive officer Richard Fraser
11/17/2021
IQ-EQ acquires U.S. outsourced compliance provider
Global Investor Services Group IQ-EQ deepens its U.S. foothold with strategic acquisition
11/17/2021
FCA confirms rules for legacy use of synthetic LIBOR rates and no new use of US dollar LIBOR
The FCA has confirmed it will allow the temporary use of ‘synthetic’ sterling and yen LIBOR rates in all legacy LIBOR contracts, other than cleared derivatives, that have not been changed at or ahead of end-31 December 2021.
11/17/2021
Financial Services & Banking News
The proposed changes are aimed at ensuring that the framework still addresses the key systemic risk intended by the FPC
11/17/2021
Linklaters - Launching new resources on financial crime risks in the art market
Regulators in Europe have already taken notice
11/17/2021
A Guide to Anti-Money Laundering for Digital Banks
Increased time spent living and working at home during the pandemic spurred many late adopters to embrace digital banking practically overnight.
11/17/2021
Calls for greater regulation of AI in the workplace
A final report produced by the All-Party Parliamentary Group on the Future of Work November 2021
11/16/2021
Rabobank faces punishment over customer anti-money-laundering checks
Both banks were warned by the DNB about their weak enforcement of anti-money-laundering practices ahead of the settlements.
11/16/2021
Financial Regulation: Daily Update
It also sets out the FCA's disclosure expectations and supervisory strategy, and includes a consultation on a new technical note on environmental, social and governance and sustainability.
11/16/2021
High court Rectifies pension increase provisions in Mitchells & Butlers Pension Plan
In another aspect of the case, Mr Justice Trower declared that the amendments by which the pension increase provisions were introduced should be set aside.
11/16/2021
Daily Legal Update
This draft heat network delivery plan sets out how the provisions of the Heat Networks (Scotland) Act 2021, and related policies, will contribute to increased heat networks across Scotland.
11/16/2021
‘Right to rest’: inside Portugal’s bold bid to regulate remote working
Newly passed leglisation bans bosses from contacting employees outside work hours
11/16/2021
Ground-breaking FRC report sets out what it expects from audit firms to deliver high quality audit
To support the delivery of high-quality audit, the report provides a range of examples of good practice identified by the FRC over recent audit quality inspections and supervision work.
11/16/2021
London wealth boutique brought down by AR's pension transfers
Meyado Private Wealth Management London was prevented from taking on new clients in March this year.
11/15/2021
FCA Launches The Long Term Asset Fund To Encourage Investment In Illiuid Assets
Until now, some investors have been unable, or unwilling, to invest in long term illiquid assets even though these assets could meet their investment goals.