08/11/2019
FCA bans former adviser over film scheme tax cheat
The film schemes were presented to investors as an opportunity to get tax rebates.
Legal, Regulation & Compliance
08/09/2019
BDB Pitmans suspends its COO
“BDB Pitmans, like all firms, may from time to time conduct internal investigations in relation to staff members", Smith told RollOnFriday, implying breezily that there was nothing to see here.
08/09/2019
Nationwide refunds £6m to customers following CMA action
Nationwide has committed to refund £6m to affected current account customers after it broke a legal order from the CMA.
08/09/2019
Germany eyes fiscal U-turn with new debt to finance climate plan
Coalition parties want to agree the next steps at the climate cabinet's next meeting on Sept. 20
08/09/2019
EBA opinion on the implementation of the DGSD
The EBA opinion responds to a mandate under the DGSD and covers the eligibility of deposits, coverage level and cooperation between deposit guarantee schemes.
08/09/2019
Central banks need better crypto asset data to contain risk – ECB research
The increase in linkages between the regulated financial sector and crypto assets over time may overwhelm current regulatory and financial frameworks, the research finds.
08/09/2019
Danske's Bid to Stop U.S. Class Action Lawsuit Hits Obstacle
New York judge denies Danske’s motion to dismiss as moot
08/09/2019
Divorcee of oligarch awarded £15m a year as Burford Capital attempts to seize her ex-husband's £250m mega-yacht
She was awarded a 41.5 per cent share of his wealth in the 2016 ruling by Justice Haddon-Cave.
08/09/2019
Draft EU Exit SIs for investment funds and their managers
To be laid under the European Union
08/09/2019
The government’s guarantee for EU-funded programmes if there’s no Brexit deal
It is part of the government’s ongoing programme of planning for all possible outcomes.
08/09/2019
Clients of collapsed wealth manager charged 20% in fees
In its DFM business it allegedly promoted high-risk bonds to retail investors, which the FCA said was not in their best interest.
08/08/2019
Commerzbank Decides to Lift Loan Provisions due to ‘worsening’ Economic Conditions
It is a problematic time for the German economy, and such a warning from one of the nation’s biggest banks must come as a warning for policymakers.
08/08/2019
Conman Mark Acklom pleads guilty to £300,000 fraud
Acklom had been due to stand trial this week for taking more than £750,000 from Ms Woods but changed his plea to guilty at the last minute after admitting to taking a smaller sum.
08/08/2019
Towards A Single European Market On Private Pensions – The Pan-European Personal Pension Product
This is not expected to be the case before the end of 2021, however, it is important for possible PEPP providers to start thinking about the way in which they can tailor and market PEPP products to suit their business models.
08/08/2019
The unintended consequences of RDR – Verona Kenny of 7IM reflects on the legislation
Deeply unpopular among advisers, the legislation was meant to provide some much-needed assurances and clarity to the public around just what they were paying for, and in making advisers more directly accountable to their clients.
08/08/2019
ABN Amro flags possible money laundering fines in latest blow to shares
AS was forced to pay a record $900 million fine in September for failing to spot criminal activities financed through its accounts.
08/08/2019
SFO Tells Corporations How to Cooperate in Ongoing Investigations
The office investigates high-level corruption, bribery and fraud in England, Wales and Northern Ireland.
08/08/2019
Italian tax authorities ask for information on UBS clients
The bank is facing two separate investigations in Italy and a court case in France over allegations it enabled cross-border tax cheats to hide assets in Switzerland.
08/08/2019
Hargreaves Lansdown shrugs off Woodford woes with full-year asset jump
Market gains added a further 400 million pounds.
08/08/2019
Carey Olsen advises Ulster Bank
Silver Stream is one of the largest independent providers of residential care for older people in Ireland