07/18/2023
Social media guidance set for revamp
The proposals for new social media guidance will modernise the information firms should use when promoting financial products or services online.
Legal, Regulation & Compliance
07/18/2023
PRA statement on the recalculation of the Transitional Measure on Technical Provisions
This statement highlights the PRA's recent invitation to insurance firms to recalculate the Transitional Measure on Technical Provisions.
07/18/2023
Addleshaw Goddard: Financial Services & Banking News
Financial promotions on social media, which seeks to ensure firms understand how the FCA's rules apply and its expectations for financial promotions on social media.
07/17/2023
Andrew and Peter Currie sentenced to a combined 8 years for fleecing consumers through Collateral P2P platform
Before its collapse into administration in February 2018, Collateral offered peer-to-peer style investments on a website fraudulently claiming it was authorised and regulated by the FCA.
07/17/2023
Innovation Fund: EU invests €3.6 billion of emissions trading revenues in innovative clean tech projects
The funding will contribute to the greening of significant sectors of the European economy, in particular those that are difficult to decarbonise.
07/17/2023
FCA cracks down on 'finfluencer' social media promotions ahead of Consumer Duty deadline
This crackdown is particularly needed during the cost-of-living crisis as people are more likely to turn to alternative sources with the promise of high returns being tempting for cash-strapped individuals without their eyes open to risks involved.
07/17/2023
Goldman Sachs accused of 'culture of bullying' in High Court case
Firm sued for £1m
07/17/2023
FCA eyes stringent social media rules in financial promotions crackdown
Eight-week consultation
07/17/2023
FCA to revamp social media guidance
The consultation follows the announcement of new advertising rules for crypto firms marketing to UK consumers.
07/17/2023
DC pension scheme ‘value for money’ framework moves closer
To inform grading, DC scheme providers will be obliged to obtain, publish, and then assess data concerning investment performance, costs and charges, and quality of services in what will be a major disclosure and compliance exercise.
07/14/2023
FCA tells platforms to reveal details on interest payments
It comes as the body prepares to roll out new consumer duty regulations at the end of this month which dictates that firms should put customers’ needs first.
07/14/2023
The Bank of London applies for EU licence
The Bank of London is a clearing bank, which means it is not a typical bank where you can open a current account.
07/14/2023
EBA publishes fourth Opinion on money laundering and terrorist financing risks across the EU
They also include emerging risks such as corruption, and the laundering of proceeds from both environmental crime and cybercrime.
07/14/2023
EU completes securitisation regulatory ‘jigsaw’ with final risk retention technical standards on risk retention
Securitisation regulation expert Katie McCaw of Pinsent Masons described this “long-awaited” development as one of the final pieces of the EU securitisation regulatory “jigsaw”.
07/14/2023
Landmark Sudlows ruling establishes principles for serial adjudications
A serial adjudication arises in circumstances when there are two or more successive adjudications between the same parties in relation to the same construction contract.
07/14/2023
Further resources needed for pensions dashboard, says Trott
Simon McKinnon, former chief digital and information officer at DWP, was also at the session and explained that while the fundamental work was going well, it had a fixed deadline of having to start connections.
07/13/2023
Labour market statistics paint Bank of England into a corner
The number of people in employment increased to a record high in the latest quarter with increases in both the number of employees and self-employed workers.
07/13/2023
Financial Stability Report - July 2023
The Financial Stability Report sets out our Financial Policy Committee's view on the stability of the UK financial system and what it is doing to remove or reduce any risks to it.
07/13/2023
GPC Sipp claims exceed £67mn
There are still 15 claims in progress with the FSCS.
07/13/2023
UK businesses to get free government tool to tackle economic abuse
UK businesses and charities are set to benefit from a free interactive guide to help their staff spot and tackle economic abuse when speaking to customers over the phone, Financial Secretary to the Treasury Victoria Atkins announced today.