07/24/2018
BoE completes POC for RTGS Renewal Programme
The Bank has completed a Proof of Concept to understand how a renewed RTGS service could be capable of supporting settlement in systems operating on innovative payment technologies.
Legal, Regulation & Compliance
07/24/2018
SJP claims FCA deemed pension transfers suitable
The probe into SJP pension transfer cases was made in the context of this review.
07/24/2018
Guernsey Receives Top Marks For Transparency From OECD's Global Forum
Confirmation from the OECD that Guernsey is Compliant matches the ratings of the other Crown Dependencies.
07/24/2018
Under pressure UK taxman facing more High Court challenges
Taxpayers are fighting back against the more aggressive and dogmatic approach being taken by HM Revenue & Customs, according to law firm RPC.
07/23/2018
Anti-money laundering crackdown should be more focused on most suspicious activity – Law Commission
Money laundering is estimated to cost every household in the UK £255 a year and allows criminals to profit from their crimes.
07/23/2018
Guernsey submits 'hard Brexit' paper to UK
The GDPR maintains the need for robust protections to be in place when personal data is transferred outside the EU a
07/22/2018
Bank of England, FCA, PRA and PSR conduct review of Memorandum of Understanding in relation to payment systems in the UK
The Authorities are also making minor changes to the MoU this year to reflect recent legislative changes or other structural changes, or in relation to those changes.
07/22/2018
Second cold-call ban consultation released
The government created the power to make secondary legislation to ban pensions cold calling through section 21 of the Financial Guidance and Claims Act 2018, which gained Royal Assent on 10 May 2018.
07/22/2018
UK regulatory autonomy, recognition, and a productive economy
The United Kingdom has a unique opportunity to use withdrawal from the EU to grow its economy and become considerably more productive.
07/22/2018
Police to get Bitcoin training amid money-laundering worries
Other authorities in the Square Mile are also scrambling to catch up with the cryptocurrency boom.
07/22/2018
Italian banker dodges queries on Africa deals
Sources in Washington say Intesa Sanpaolo has expressed interest in entering a co-financing deal with OPIC on the two mega African M&A deals.
07/22/2018
Mourant advises on IPO on AIM
Mourant Ozannes has significant IPO experience on AIM and main market listings
07/20/2018
FCA publishes Annual Report and Accounts 2017/18
This Annual Report shows that keeping pace with the depth and breadth of developments in financial services can be a challenging balancing act.
07/20/2018
EBA publishes final Guidelines on fraud reporting under PSD2
These Guidelines require payment service providers across the 28 EU Member States to collect and report data on payment transactions and fraudulent payment transactions
07/20/2018
EBA publishes final guidance to strengthen the Pillar 2 framework
The comprehensive EU SREP framework, which was introduced by the EBA in 2014, is now well established and in use by supervisors across the EU.
07/20/2018
Ex-GP hired hitman to kill Brown Shipley adviser, court hears
David Crichton had vendetta against adviser over £300,000 pension loss, court hears
07/20/2018
FCA writes to 152 firms over high-risk investments
FCA will continue to monitor the issue, but stopped short of suggesting the regulator will intervene to solve the problem
07/20/2018
HM Treasury: Proposed division of responsibilities for EU financial services
At Tresury oral question this week...
07/20/2018
Star traders get jail term over Euribor rigging
The conviction follows a guilty plea by Christian Bittar, former Principal Trader at Deutsche Bank, before the start of the trial in March 2018.
07/19/2018
ESMA Clarifies Endorsement Regime for Non-EU Credit Ratings
The new section aims to assist EU CRAs in assessing whether a third-country CRA’s internal requirements meet the as stringent as test.