02/28/2024
FCA to improve pace and transparency around enforcement cases
The FCA will also close those cases where no outcome is achievable, more quickly.
Legal, Regulation & Compliance
02/27/2024
How to avoid FCA's crackdown on wealth management non-compliance
In a wealth management data survey, the FCA asks a number of questions
02/27/2024
CMA launches "painful" investigation into UK housebuilders
The original study was also looking into the industry’s use of landbanks, with early suggestions being whether builders were stockpiling land and artificially slowing delivery.
02/27/2024
ZEDRA and Knowa announce pioneering sole trustee governance collaboration
This collaboration introduces significant advancements in governance practices
02/26/2024
Commission invests over €233 million in Strategic Environment and Climate Projects across Europe
Six other projects have also been selected to boost nature and biodiversity.
02/26/2024
Unions go to war with FCA management (again) over performance-related pay
Employee union Unite said its members had rejected the FCA’s 2024 pay offer, citing lacklustre sub-inflation pay increases, though only a minority of FCA staff belong to the union.
02/23/2024
Cembra wants to cut dozens of jobs
The return on equity was 12.5 percent and the common equity ratio (Tier-1) was 17.2 percent.
02/23/2024
The EBA consults on the new framework for the business indicator for operational risk as part of the implementation of the EU Banking Package
The draft RTS on BI adjustments require institutions to use the actual three-year historical data or a limited number of alternative methodologies following an operation.
02/23/2024
ESMA seeks clarity on crypto-asset regulation: reverse solicitation and classification of crypto-asset as financial instruments
ESMA acknowledges the challenge of classifying crypto-assets when they combine multiple characteristics and purposes
02/23/2024
OECD Pillar One: Report issued on Amount B, simplification of transfer pricing rules
All businesses, regardless of size, are potentially in the scope of Amount B if they carry out suitable distribution activities.
02/23/2024
Abrdn: ‘Advisers will be fearful of any new regime’
Advisers will need to see it is clearly different from if the customer had taken holistic advice.
02/23/2024
TPR changes approach to workplace pensions with new functions
From April 2024 the functions will aim to protect, enhance and innovate in savers’ interests.
02/22/2024
The Future of Banking in Malta
The primary challenge for the sector is to run its core functions in a way that achieves its own objectives while meeting the needs and expectations of a plethora of stakeholders in parallel.
02/22/2024
Serious Fraud Office raids three properties and makes four arrests in new £140m property fraud investigation
This is the fourth new investigation launched since Director Nick Ephgrave QPM joined the UK’s specialist anti-fraud agency in September.
02/22/2024
ESG ratings agreement marks a “crucial” step, but “gaps” exist: Efama
ESG rating providers will also not be allowed to provide credit rating, auditing or consultancy services to avoid conflict of interest, it pointed out.
02/21/2024
The Bahamas Removed From The European Union’s List Of Non-Cooperative Jurisdictions For Tax Purposes
The removal of The Bahamas from the EU’s list clearly underscores the significant progress made over the past year
02/21/2024
Preparing for AIFMD II
Implications and actions for firms
02/21/2024
FCA’s Sheldon Mills issues fresh Consumer Duty warning
The deadline for closed products to come into line is July 31 this year.
02/21/2024
FSCS appeals policy changes will ‘create inequality’
The implementation will create an inequality in the distribution of compensation as consumers who have had access to higher levels of education will have a “significant advantage” over those without the same, she also stated.
02/21/2024
Statistical Notice 2024/05
Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder