04/21/2021
Harassment Claims at EU’s Investment Bank Spark Call for Probe
Parliamentary committee to discuss allegations later this week
Legal, Regulation & Compliance
04/21/2021
Private Investment Fund Rules and Guidance 2021
The changes provide for two new categories of PIF, neither of which require a licensed manager.
04/21/2021
Financial Regulation: Daily Update
The FCA has also updated its webpages on BI insurance and on the BI insurance test case accordingly.
04/20/2021
Financial Regulation Alerter: Straying into regulated territory – more guidance on investment advice and arranging activities
It is clear that the Financial Conduct Authority (the "FCA") is determined actively to police the regulatory perimeter – it was after all a party to proceedings in both of the cases discussed below.
04/20/2021
FCA sets out broad approach to assessing LCF Complaints
Today we are confirming our broad approach to assessing complaints made specifically to the FCA in relation to LCF
04/20/2021
Second consultation on new prudential regime for UK investment firms
The IFPR introduces a new prudential regime for MiFID investment firms regulated by the FCA. It will create a single, proportionate regime that reflects firms’ size and business.
04/20/2021
FCA sets out approach to assessing Connaught complaints
At that time complainants were informed of their right, if they were dissatisfied with our decision, to refer their complaint to the Office of the Complaints Commissioner.
04/20/2021
Terms of Central Bank Digital Currency Taskforce: Terms of Reference
This document sets out the Terms of Reference for the Central Bank Digital Currency (CBDC) Taskforce.
04/20/2021
SMCR and COVID: Regulatory expectations and a "reverse holiday" rule? Just a thought.
Post the financial crisis in 2008 you will remember that the FSA effectively brought in a "two week holiday rule".
04/20/2021
Schroders PW zero commission will not solve protection gap
‘No fee means no business, surely?’
04/20/2021
New Garda powers under review to tackle white-collar crime
Next-generation search warrants could gain access to suspects' device data
04/20/2021
FNZ Told For A Secod Time To Undo GBST Acquisition
Its other offerings serve wealth managers, retail brokers, custodians, and margin lenders, officials say.
04/20/2021
Financial Regulation: Daily Update
The FCA has published a statement confirming that it will publish its Business Plan in July 2021, rather than April.
04/19/2021
Financial Regulation: Daily Update
The FCA has stopped the firm conducting any regulated activities in the UK and has required it to close all trading positions and return the money to customers.
04/19/2021
Three in four Britons don't trust online banking as threat from scams escalates
76% said they 'lack trust towards using their banking services online'
04/19/2021
Former employee of Starling files discrimination claim against fast-growing bank
Raja has lodged a ‘complaint of victimisation’, while Starling’s defence is that Raja was going to be dismissed because her performance ‘was not good enough’, according to the preliminary hearing.
04/19/2021
ABN Amro to settle money laundering probe for $574 million
ABN AMRO will continue to make every effort to fulfil its role as gatekeeper.
04/19/2021
Unexplained Wealth Orders (UWOs) – under-used and under-valued?
A UWO requires an individual to explain how they acquired a particular asset.
04/19/2021
Privacy most important factor for digital euro, ECB survey finds
However, the majority stopped short of total anonymity, with only 1 in 10 highlighting anonymous transactions as an important feature of a digital currency.
04/19/2021
How psychometric testing works in risk profiling
That, in turn, deepens the relationship between the adviser and the client and facilitates fruitful conversations.