06/28/2018
Aviva accused of shortchanging over platform compensation
The platform was unavailable for six days beginning on the evening of 17 January and just one day after it came back online advisers and their clients found themselves locked out.
Legal, Regulation & Compliance
06/28/2018
FCA wants pension provider charges to meet Mifid standards
As a result the regulator has asked for views on whether it should make pension providers disclose the 'actual charges' clients are paying as well the assumed charges.
06/28/2018
New double tax agreement between Cyprus and Andorra
Like many of Cyprus's recent double tax agreements, the agreement with Andorra includes comprehensive provisions regulating the taxation of offshore hydrocarbon exploration and exploitation activities.
06/28/2018
Cyprus Securities and Exchange Commission regulatory priorities for the second half of 2018
CySEC’s principal objective for 2018 is to establish, monitor and sustain a healthy and stable environment for the securities industry. It has identified the following priority areas for the second half of the year:
06/27/2018
Insurtech Coya receives licence from German regulator
As one of the first German digital insurance companies, Coya wants to create a service without paperwork or middlemen and claims to be cheaper, faster, more flexible and more digital than previous insurances.
06/27/2018
Leading UK law firm Ashurst announces 11 per cent partner profit jump
Ashurst has turned its fortunes around in the last two years after going through a rocky period characterised by falling revenue and profits and partner defections to rival firms.
06/27/2018
Bill of law transposing ATAD I submitted to Luxembourg Parliament
ATAD I is the answer of the EU to the recommendations formulated under the base erosion profit shifting (BEPS) initiative
06/27/2018
Best Lawyers in Germany 2019 ranks ten Ashurst partners
Best Lawyers is compiled by the peer-review company and ranks the nation's top legal talent based on peer evaluations within the legal industry.
06/26/2018
UK's first ISA millionaire urges MPs to close 'nonsense' legal loophole
Most investors only became aware of the rule earlier this year when Beaufort Securities collapsed and a row erupted between the broker’s clients and administrators PwC.
06/26/2018
FCA probe to explore Mifid II impact on research
UK regulator to examine regulatory impact as current research pricing viewed as unsustainable by investors.
06/26/2018
French regulator won't restrict UK fund managers
Legg Mason said uncertainty on delegation rules was a factor in its decision to open a Dublin office
06/26/2018
Fidelity wins EU court challenge to Danish withholding tax on dividends paid to foreign funds
The withholding tax repayment was denied as, under the Danish legislation, to be exempt from withholding tax, a UCITS must be resident in Denmark and have Article 16 C fund status.
06/26/2018
FCA proposes changes to complaint handling rules to help victims of authorised push payment fraud
The FCA shares concerns with the Payment Systems Regulator and the industry that APP fraud is a growing problem. This consultation published today builds on the work of the FCA and PSR to better protect consumers from APP fraud.
06/26/2018
New draft template aims to help distributors meet their MiFID II responsibilities
The template has been subject to a number of preliminary trials by a sample of distributors to ensure it is ready to proceed to the testing stage
06/26/2018
Charities, defined benefit pension schemes, and the Pensions Regulator - Withers
By the Regulator's own admission, it is now clearer on what it expects from pension trustees, is quicker to act, and is tougher on those who fail to act in the interests of members.
06/26/2018
The Fundraising Regulation's updated guidance on handling complaints - Withers
Charities should consider implementing internal Complaints Policies to guide staff in responding to complaints quickly and helpfully.
06/25/2018
Lessons from Pugachev – trust considerations
The Protector also had positive powers such as to add beneficiaries and to remove trustees with or without cause.
06/25/2018
Industry reacts to surge in problem development lending cases
“Development is not just about value, feasibility is just as important.”
06/25/2018
Iceland: From crisis to hotspot, 10 years on from the financial crisis
The fodder crop was a staple in the Icelandic diet centuries ago and has made a comeback in trendy restaurants in recent years, but these plants aren’t for eating.
06/25/2018
Yorkshire Bank deal for Virgin Money ‘could spark flurry of banking mergers’
He said technology and compliance costs will be high on banks’ radar.