01/26/2024
Addleshaw Goddard: Financial Services & Banking News
The FSB will also prepare a further progress report on achieving consistent climate-related financial disclosures.
Legal, Regulation & Compliance
01/26/2024
Monetary policy decisions
The Governing Council is determined to ensure that inflation returns to its 2% medium-term target in a timely manner.
01/26/2024
Fos rules True Potential adviser persuaded pensioner to switch
The Financial Ombudsman Service has upheld a complaint against the company ruling it did not treat the pensioner in a “fair or reasonable” way.
01/25/2024
The problem of divergence in EU Foreign Investment review: will the proposed EU FDI Screening Regulation close the gaps?
This post details the key features of the reform to the Regulation, considers whether they address the issue of significant divergences between screening mechanisms, and highlights some of the main impacts that investors need to be aware of going forward.
01/25/2024
The EBA publishes its heatmap following scrutiny of the interest rate risk in the banking book
The heatmap discloses policy aspects that will be subject to further scrutiny, and corresponding actions in the short to medium and long term.
01/25/2024
The Real Time Gross Settlement service: an open platform to drive innovation - speech by Victoria Cleland
Victoria Cleland describes how the Bank of England is enhancing its core payments infrastructure and policies in the light of the opportunities arising from innovation and new technologies in the payment landscape.
01/24/2024
TLT completes acquisition for Aryza Group
Aryza is a global software and technology provider that specialises in delivering solutions for business across the credit and debt cycle.
01/23/2024
Adepa agrees to acquire Fidupar pending regulatory approval
The acquisition will open opportunities in new markets for Adepa, such as France and Belgium, noted the announcement.
01/23/2024
Individual charged with fraud over unauthorised investment scheme
He falsified documents in order to support some of his claims.
01/23/2024
CP2/24 – Solvent exit planning for insurers
Consultation paper 2/24
01/22/2024
Navigating tomorrow - Risk Management, Compliance and Financial Resilience
The top risks firms are most focussed on are ESG, regulatory change and market uncertainty.
01/22/2024
Dutch activists sue ING: "Climate crisis banker" funds firms "that endanger our future"
ING reported in 2022 that it is responsible for the emissions of more than 61 million metric tons of greenhouse gases.
01/22/2024
How EU’s latest AML laws impact HNWIs and property ownership
Renowned for their substantial wealth, these individuals now find themselves under intensified scrutiny.
01/22/2024
FCA manager loses legal battle to work from home
Elizabeth Wilson, a £140,000-a-year senior manager, loses her appeal to work from home on a full-time basis at a Croydon employment tribunal.
01/19/2024
Regulated firms failing to adopt open banking or verify source of funds manually
These concerning figures are from a 2023 SmartSearch survey of 501 compliance decision-makers across regulated firms in accountancy, property, finance and legal services.
01/19/2024
Addleshaw Goddard: Financial Services & Banking News
The Government has also published explanatory notes accompanying the Bill.
01/19/2024
Chancellor in Davos to champion British excellence in tech
Jeremy Hunt champions British science and tech in first visit to the World Economic Forum’s Annual Meeting in Davos, Switzerland from a UK Chancellor since 2019
01/18/2024
BSPS payments hit £73mn as another advice firm defaults
The FSCS has so far paid £73mn in compensation to BSPS clients, against total losses of more than £106mn.
01/16/2024
Bank of England may crack down on funded reinsurance
Higher interest rates in Britain have made it cheaper for corporate pension schemes to buy insurance, enabling companies to move pension risk off their balance sheets.
01/16/2024
Enforcement Factsheet: A Compilation of Regulatory Actions – 2021/2022
Case studies are also included, providing subject persons with practical examples which should help in their day to day operations in combatting ML/FT.