04/09/2020
FCA bans 'playboy' adviser jailed over £4.5m fraud
The money was used to fund his lifestyle of travel, hotels and gambling, with the FCA warning his victims had "little prospect" of recovering any money as a result.
Legal, Regulation & Compliance
04/09/2020
A Stable Framework for a Changing World
The implementation of the Register of Beneficial Owners (RBO), was yet another critical step-change which has “greatly enhanced the transparency” alongside other various Directives.
04/08/2020
UK watchdog proposes 1.6% rise in adviser regulatory fees
But, due to coronavirus, 71% of firms that pay minimum levies will see no change
04/08/2020
FCA Business Plan 2020/21
The FCA will also transform its operations, using data and advanced analytics to improve responsiveness and reduce the regulatory burden.
04/08/2020
Weekly Tax Brief - 7 April 2020
While it is too early to predict what the UK tax system will look like after the virus has passed, one thing is clear: much more tax will be paid by fewer companies and individuals.
04/08/2020
Grant Thornton sees audit profits slashed by 90%
The mid-tier firm made a profit of £1 million from audits in the 18 months to January, down from £13 million in the previous 12 months.
04/08/2020
Germany’s 100pc guarantees highlights shortcomings of UK loan scheme
Germany is standing behind 100pc of loans to previously profitable businesses, while the UK is only offering 80pc guarantees
04/08/2020
IPEV releases special valuation guidance
The Guidelines were last updated in 2018 and are the prevailing framework for fair value information in the PE/VC industry.
04/07/2020
Insurer WPA provides online GP to staff and clients
The service provides 24/7 access to a GP helpline including unlimited phone or video consultations; a private prescription service and specialist referrals if required.
04/07/2020
Brussels delays MiFID II consultation due to covid-19
The consultation aimed to collate the input of stakeholder on "areas that would merit targeted adjustments" to the directive and how they should be prioritised by rule makers.
04/07/2020
Lindsell Train funds breach UCITS concentration rules - reports
Individual holdings breach limits
04/07/2020
FCA sets out priorities for 2020/21
Looking ahead to the medium term the Business Plan sets out four priority areas where the FCA will address continuing harm.
04/07/2020
Coinhouse Wins First Crypto License From French Regulator
The firm is now raising equity and integrating risk warnings, investment disclaimers and other legal documents to make a bid for the French crypto license.
04/07/2020
COVID-19 crisis spurs triple-digit growth for refurbishing startup Back Market
Also being considered is additional grant funding via InnovateUK, a government body providing support to innovative businesses, and an expansion of R&D tax credits.
04/07/2020
Adviser FCA fees to increase to £81m
The watchdog’s funding requirement, which includes £15m in EU withdrawal costs and £10m to support its own transformation programme, has increased 5.2 per cent to £587.6m.
04/07/2020
“Bank of England purchases – why so fast?” - Kames Capital
“Better to be early to the party than not attend at all.”
04/07/2020
TBC Bank and Citi sign a $67 million trade finance facility
Proceeds of this facility will support import and export transactions for customers of TBC Bank
04/07/2020
Implementation of the 5th AML Directive into Luxembourg law
The 2020 Law, which is significant in the context of the FATF’s scheduled on-site visit in Luxembourg, impacts the national AML/CTF framework in a number of key areas.
04/07/2020
HSBC board to avoid angry investors at AGM behind closed doors
The usual format of the AGM will be condensed and will only include the formal business of the AGM.
04/07/2020
Uncleared margin rules delayed for one year
Asset managers receive respite from authorities in implementing the final phase of the uncleared margin rules as coronavirus continues to impact regulation.