03/22/2024
Financial Services & Banking News
ECON also announced the adoption of its draft report on the proposed Regulation making amendments to the Regulation on key information documents
Legal, Regulation & Compliance
03/21/2024
FCA publishes proposed guidance on new anti-greenwashing rule
The guidance acts as an aid to the implementation of the current anti-greenwashing rule, and provides four key principles that any sustainability claim must consider.
03/21/2024
Financial Services & Banking News
The ECB, the EBA and EIOPA have established the framework, referred to as the DPM Alliance, to collaborate on the upgrading and maintenance of the DPM standard.
03/20/2024
The impact of the new EU mass actions directive across Europe
The growth of mass actions presents increased challenges and risks for businesses, particularly those which provide services or goods to consumers.
03/20/2024
FINMA annual media conference: For a stable financial sector
FINMA made a decisive contribution to stabilizing the financial markets in March 2023, when Credit Suisse was threatened with imminent insolvency.
03/20/2024
FCA’s warnings on poor financial crime controls
The firms we assess are informed of our findings and supervisory action is taken with those firms based on those findings”.
03/20/2024
FCA asks Financial Advisers to review their processes in retirement income support
Some firms had clearly detailed processes, specific training on decumulation and used a range of tools to help illustrate complex information for customers.
03/19/2024
ECB and EBA step up efforts to make banking industry data reporting more efficient
The ECB, the EBA, the European Commission and the SRB will all be part of the JBRC
03/19/2024
FCA sets out plan for the year ahead
The introduction of the Consumer Duty marked a major shift by setting higher and clearer standards of consumer protection
03/18/2024
Convicted money launderer meets confiscation order after imprisonment for failure to pay
This scheme ultimately defrauded consumers of over £4.25 million; on occasions Mr Walker even received monies from investors into his solicitor’s client account.
03/18/2024
CS Shareholder Lawsuits: Liechtenstein Law Firm has Surprising Argument
The major bank refutes the lawsuit.
03/18/2024
FCA joins other regulators to warn firms on debt collection
This is especially important as many consumers continue to feel the strain from cost of living pressures and risk falling into arrears.
03/18/2024
FCA decides on £5.95m fine and industry ban for Nailesh Teraiya in latest cum-ex case
In reality, this was not a repayment of tax as the claim related to shares that did not exist, no dividends had been paid and no tax had been deducted.
03/15/2024
Morgan Stanley Wins €1.4 Million French Bonus Spat With Banker Who Quit
The Paris court of appeals ruled against Bernard Mourad, saying the bank’s cash and shares incentive programs “sought to ensure his loyalty in the long term.”
03/14/2024
Financial Promotion: U-turn on UK high net worth individual and sophisticated investor exemptions
The changes in the 2024 Order reverse certain amendments made by recent regulations
03/14/2024
British government extends deadline for banks to combat rising fraud
By affording banks additional leeway to contact victims and law enforcement, the Government aims to disrupt the complex webs of deception by fraudsters.
03/14/2024
Investing in outcomes: a regulatory approach to deliver for consumers, markets and competitiveness
Speech by Nikhil Rathi, FCA Chief Executive delivered at the Morgan Stanley European Financials Conference.
03/13/2024
Market resilience, non-bank financial institutions and the central bank toolkit – practical next steps− speech by Nick Butt
Given at ISDA virtual conference on Procyclicality and Margin Practices
03/13/2024
Beyond banks: four ways regulators are tackling perceived NBFI risks
The approaches are complementary and mutually reinforcing – as far as many policymakers are concerned, progress is needed on all four to deal comprehensively with NBFI risks.
03/13/2024
DWP's frozen state pension policy called into question
There are currently more than 450,000 British pensioners living outside of the UK who do not receive annual upratings because of the frozen pensions policy.