09/19/2023
FCA finds no evidence of de-banking based on political views
FCA review sparked by Nigel Farage’s claims concludes that banks are not closing accounts primarily based on customers’ political views.
Legal, Regulation & Compliance
09/19/2023
Withers' UK media and reputation team wins pro bono freedom of expression victory for clients
The successful outcome for our clients is one which also emphasises the ongoing significance of academic freedom as a right protected under Article 10 of the European Convention on Human Rights.
09/19/2023
UK and Ireland strengthen energy cooperation with new agreements
Under the terms of both MOUs, the UK and Ireland will hold bi-annual meetings, with their respective ministers periodically convening to assess progress and discuss challenges.
09/18/2023
FCA orders WealthTek Limited Liability Partnership to cease operations as High Court appoints Joint Special Administrators and arrest made
WealthTek is an FCA authorised and regulated wealth management firm which provided discretionary, advisory and execution only services to their retail clients and intermediaries.
09/18/2023
Bank of England readies what may be its final rate hike
Financial markets are less certain than economists – with rate futures last Friday showing a 25 per cent chance of a pause – but both are coming to the view that the streak of rises in borrowing costs since December 2021 is in its last days.
09/18/2023
Customers of collapsed WealthTek set for payout
The Financial Conduct Authority ordered the Newcastle-based wealth manager to cease all regulated activities in April following the discovery of regulatory and operational issues.
09/15/2023
Review of later-life mortgages finds poor advice and misleading promotions
The FCA has required those firms which fell short to improve the quality of their advice.
09/15/2023
SER opens investigation against Banque Cantonale du Valais (Walliser Cantonal Bank)
The alleged violation concerns regulations on ad hoc publicity and is related to the disclosure of price-relevant facts.
09/15/2023
Bank of England/Ipsos Inflation Attitudes Survey - August 2023
This quarterly survey, conducted by Ipsos on our behalf, assesses public attitudes to inflation, opinions about the Bank and awareness of our work.
09/15/2023
Why the FCA could be restricting Raymond James
Dodgy tech systems, concerns over suitability, scrutiny over client cash controls, and anxiety over Raymond James’s ‘flexible’ model may have fed into the FCA’s restrictions.
09/15/2023
Three UK financial advice firms fail
FSCS has received seven claims so far against the companies
09/15/2023
Scottish advice firm Crosbie Carr Morris declared failed
The Financial Services Compensation Scheme issued notice yesterday
09/15/2023
Lehman bankruptcy 15 years on
What have we learned?
09/14/2023
FCA bans Keith Dickinson and Andrew Allen for British Steel Pension Scheme advice failings, with £155k to be paid in compensation
The FSCS has so far paid out almost £3 million in compensation to Mansion Park customers for the unsuitable advice they received, including over £2 million for advice provided by Mr Dickinson.
09/14/2023
FCA 'disappointed' by poor advice given by lifetime mortgage advisers
The review focused on the complex equity release market, catered to older homeowners who want to free up money tied up in their homes to help meet later life needs.
09/13/2023
New screening checks required to approve financial adverts
Previously, any firm authorised by the FCA could approve promotions on behalf of firms unregulated by the FCA.
09/13/2023
Nic Cicutti: It’s time the FCA stopped failing whistleblowers
This is more than a wasted opportunity — consumers are left short and their confidence is damaged, which harms the market
09/13/2023
Bank of England poised to hike rates again despite UK economic woes
0.5% decline in GDP in July
09/13/2023
Retained EU law in the UK after Brexit
Thousands of amendments to that retained EU law also entered into force at the same time, so that the UK statute book was still operational in an independent legal system divorced from the EU.
09/13/2023
German ministry begins 5G network component security review
The review will consider the use of components from ‘high risk’ suppliers, as classified by the European Commission in June 2023.