01/19/2021
HSBC to shut 82 bank branches as customers shift online
The bank said the COVID-19 pandemic had emphasised the need for the changes - but had not "pushed it in a different direction".
Legal, Regulation & Compliance
01/19/2021
2021: What lies ahead in the world of data protection?
The best advice in this regard is to adopt a transparent and consistent approach, yet also being prudent and careful in light of issues that can arise with over-disclosure.
01/19/2021
Mandatory Disclosure Rules update in the Crown Dependencies
Following the UK repeal of DAC6.
01/19/2021
European bank dealmaking raises hopes for cross-border M&A
Average size of tie-ups between continent’s lenders hits highest level since 2008
01/18/2021
BT faces £600m lawsuit over 'historic overcharging'
BT is facing a class action lawsuit over claims it failed to compensate elderly customers who were overcharged for landlines for eight years.
01/18/2021
Carey Olsen advises Patron Capital on its latest European real estate fund
Carey Olsen partner Chris Griffin led the team, assisted by senior associate Sarah Townsend.
01/18/2021
Supreme Court Rejects Appeal to Overturn UK's First Unexplained Wealth Order
In 2018, Hajiyeva became the first person to receive a UWO under the new anti-money-laundering legislation introduced by the Criminal Finances Act 2017.
01/18/2021
Carey Olsen advises on merger of KPMG Channel Islands and KPMG Isle of Man
Carey Olsen has advised on the cross-border merger of KPMG Channel Islands and KPMG Isle of Man to form a single practice operating across the Crown Dependencies.
01/18/2021
Regulator prevents 12 advice firms from phoenixing in 2020
“In two other cases where we suspected phoenixing, conditions were placed on the approval of the firms to ensure that the new firm could not be used to facilitate the avoidance of liabilities.”
01/18/2021
Duff & Phelps opens Gibraltar office
Stoneman's experience includes handling complex, multi-jurisdictional restructuring and insolvency cases in the insurance, fintech and gaming sectors, as well as considerable experience working in compliance and capital raising engagements.
01/18/2021
FCA reminds firms to regularly review regulatory permissions
If you have a Part 4A permission, but have not carried on any regulated activities for 12 months or more and have no current plans to do so, please apply for cancellation using Connect.
01/18/2021
FCA clamps down on consumer investment harm
The proportion of pension scheme members who are recommended to transfer following advice has fallen from an average of 69% in October 2018 to 57% in March 2020.
01/18/2021
Former BNP Paribas Fortis executive sues the bank
Dierckx said he decided to file the lawsuit against his former employer because his reputation was wrongfully sullied
01/16/2021
Supreme Court judgment in FCA’s business interruption insurance test case
This test case involved complex legal issues.
01/16/2021
Financial Regulation Update
The FCA has also published an accompanying instruction guide and has updated its webpage on defined benefit pension transfers accordingly.
01/15/2021
TPR issues update on funding proposals
The draft Code will contain firm proposals, with TPR saying "we will certainly take account of COVID-19 when...we develop Fast Track guidelines".
01/15/2021
EU Exit: FCA lists MoUs with European authorities
The Guidance currently contains some references - listed in the note - which are no longer appropriate and will be amended in due course.
01/15/2021
HSBC introduces monthly €5 fee for banking services
Low earners, pensioners could be impacted, Consumers' Association warns
01/15/2021
FCA performance scorecard - comparison metrics for personal current accounts 2021
The survey results are published twice a year
01/15/2021
Call for experts to join Network on Pension Tracking Systems
The expertise gathered from the Network should benefit current work of EIOPA to identify best practices for the set-up of a National Pension Tracking System tool following the call for advice from the European Commission.