08/18/2021
General insurance pricing practices - amendments
Our rules ensure that renewing home and motor insurance consumers are quoted prices that are no more than they would be quoted as a new customer through the same channel.
Legal, Regulation & Compliance
08/17/2021
FCA publishes welcome guidance on ESG and sustainable funds
The FCA gives specific examples of the numerous poor applications it has received for the authorisation of ESG funds and sets out its expectation of "material improvements in future applications".
08/17/2021
Highest EU court will decide on GDPR damages
The plaintiff was affected by a data privacy scandal at the Austrian postal service, which revealed that the postal service processed and sold information on the political affiliation of the entire Austrian population.
08/17/2021
Hogan Lovells advises KBR on its c.$400m acquisition of Frazer-Nash Consultancy from Babcock
With expertise in areas such as systems engineering, data science, cyber, and clean energy, Frazer-Nash is highly complementary with KBR’s global priorities but has minimal overlap because of its geographic footprint.
08/17/2021
Financial Regulation: Daily Update
The Report reflects on the effects of moving to a virtual format in response to the pandemic, and notes that the enforced change was broadly successful and reflected well on contingency planning measures.
08/16/2021
€500,000 FIAU fine for money transfer firm Sendvalu
The FIAU says Sendvalu failed to undertake appropriate enhanced due diligence measures in instances clearly posing a high money laundering risk
08/16/2021
Financial Regulation: Daily Update
ASIC cancels or suspends 24 Australian credit licences for failing to join AFCA
08/16/2021
New hit for Monzo over money-laundering inquiry
OakNorth withdraws saving products
08/16/2021
TISE makes Listing Rule changes to target SPACs
TISE initially introduced rules for listing SPACs in 2015 and it has recently revised them to align with developing market trends in both the US and Europe and notably, where there may be an institutional investor base.
08/16/2021
Prince Andrew's banker friend is named in 'plot to financially ruin oil-rich Qatar'
Qatar has accused Mr Rowland, 76, of launching a cover-up over his alleged role
08/16/2021
Legal implications of remote work arrangements: perspectives from the U.S., UK, and France
Failure to comply with the employer’s requirements may expose the employees to sanctions.
08/16/2021
Judge rules Credit Suisse banker was unfairly sacked over rogue trade
The tribunal also concluded that Volkova acted “dishonestly and without integrity, deliberately misleading her colleagues and disobeying reasonable instructions.”
08/16/2021
Financial Regulation: Daily Update
The RTS set out a list of mandatory components that must be present in the contractual recognition terms of a relevant financial contract.
08/15/2021
Dealing with GDPR: The retail sector’s Covid-19 by-product
This article only looks at privacy which is the legal obligation for businesses to manage customer data – the GDPR sets out the principles. Under the GDPR, retailers are accountable to their consumers and to the UK’s regulator the Information
08/13/2021
Changing formation - UEFA re-writes the Rulebook for the Club Financial Control Body
In the 2021 version of the Procedural Rules governing the CFCB (2021 Rules), UEFA has sought to address these issues.
08/13/2021
German Supreme Court 'strengthens business model of claims management companies'
Instead, the collection service provider would receive 35% of the net proceeds from the claims in the event of success.
08/13/2021
In the land where cash is king, new restrictions will bite hard
Are you planning on selling your boat? If it is priced at €10,000 or more you’d better be aware that it is illegal to receive payment in cash
08/13/2021
Ireland Update: Remote and Flexible Working is Here to Stay
The Health & Safety Authority ("HSA") previously published guidance on remote working, however this was primarily focused on the practicalities of short term homeworking necessitated by the Government restrictions imposed due to COVID-19.
08/13/2021
FCA receives 2,754 whistleblower allegations of misconduct
The report revealed there were 184 individuals and firms under investigation for carrying out unauthorised business, and £189.8m in financial penalties had been handed out over the same period, alongside a number of prosecutions alleging insider dea
08/13/2021
EX-Allianz employee who fled halfway across the world gets fraud sentence
He was arrested by the City of London Police's Insurance Fraud Enforcement Department (IFED), after his employer noticed issues with the claims he was handling.