06/11/2020
Lloyds Bank fined $81 million for overcharging mortgage customers
The hefty penalty comes at a sensitive time for Lloyds, which along with rival banks has millions of customers struggling to make ends meet in the coronavirus pandemic
Legal, Regulation & Compliance
06/11/2020
Calls for adviser protection as financials probed
Mr Bradley’s warning came as the regulator is to probe the impact of the coronavirus crisis on advice companies’ finances.
06/11/2020
Covid-19: FCA podcast on emergency regulation and future planning
Mr Woolard also discusses plans for the transformation of the FCA
06/11/2020
‘Significant shortfalls’ for investors of failed mini-bond firm
Company only had £906 in its bank account when it entered administration
06/11/2020
FCA fines Lloyds Bank, Bank of Scotland and The Mortgage Business £64,046,800 for failures in mortgage arrears handling
The banks did not dispute the FCA’s findings and exercised their right, under the FCA’s partly contested case process, to ask the FCA’s Regulatory Decisions Committee to assess the appropriate level of sanction.
06/10/2020
Ireland Update: Maintaining Standards - How to Fairly Dismiss an Employee in a Controlled Function
The AO’s decision was overturned on appeal to the Labour Court
06/10/2020
Changes to Guernsey's beneficial ownership regime
The States of Guernsey has approved proposals to amend the legal framework relating to beneficial ownership. These amendments provide much needed clarity in certain areas, and 'plug' any gaps, which have been identified in the current beneficial
06/10/2020
COVID-19: HM Treasury ~£38 million support package for debt advice providers
The FCA, as collection agent for levies that fund MaPS and other devolved authorities
06/10/2020
Capita Consulting partners with Finantix
The innovative and award winning Finantix Product Suite is a modular, API-driven suite of products that can be integrated with existing IT systems and deliver maximum flexibility, efficiency and scalability.
06/10/2020
Decline in funds business to be short-lived: Guernsey Funds Forum
Deals that will happen definitely will decline.
06/10/2020
More gloom for savers as Goldman Sachs closes Marcus account to new customers as £4bn influx since April threatens to breach banking rules
Marcus said it had over 500,000 customers who had deposited £21bn
06/09/2020
Guernsey financial advisors fined for making profit from elderly clients losses
The Commission has said that Mr Penney engaged in very deliberate improper conduct, profiting to the sum of over £100,000.
06/09/2020
Boosting payroll professionalism
As a new body launches for the payroll industry, Chiene + Tait’s Neil Cameron highlights the increasing importance of standards in a profession at the centre of implementing government policy during the Covid-19 crisis
06/09/2020
Finma adds 18 firms to warning list including WMs
This includes the latest companies to submit insufficient or falsified information to the regulator.
06/09/2020
FCA investigates Quilter Lighthouse over DB pension transfers
Lighthouse has had around 40 complaints filed against it, the FCA said.
06/09/2020
No fault divorce will ease lockdown marriage nightmares - comment from Royds Withy King
The introduction of no-fault divorce will ease tensions for couples to separate without having to point the finger of blame and the passions that can arise as a result.
06/09/2020
Openwork calls for 'value of advice' campaign
The survey of 115 advisers conducted in March found a notable demand for the industry to do more to promote the value of advice and educate potential clients, with more than half agreeing trade bodies should invest more in promoting its benefits.
06/09/2020
Barclays ‘misled’ the market over Qatar deal, court told
Amanda Staveley’s PCP Capital is suing bank for alleged deceit regarding 2008 fundraising
06/09/2020
Revealed: Nearly 400,000 British companies evade anti-money laundering checks
Most forms of British corporate entities have to name a “person of significant control” – a beneficiary with a stake of 25 per cent or more.
06/09/2020
Best Lawyers recognition for seven Carey Olsen partners
Among the seven Carey Olsen lawyers recognised, Jersey partner John Kelleher was named 'Lawyer of the Year for Litigation in Jersey' – an additional recognition for those with the highest overall peer feedback for a specific practice area