12/05/2023
FCA sets out credit information market improvements
Issues included significant differences in data between CRAs and that consumers lacked awareness of how to access and dispute credit information.
Legal, Regulation & Compliance
12/04/2023
UK Lawmakers Still Not Sold on Digital Pound
The Bank of England and the country’s finance ministry are hoping to have a digital pound in circulation by 2030, joining a host of other countries aiming to launch a central bank digital currency (CBDC).
12/04/2023
Digital asset manager receives Finma license
The company continues that the approval process was time-consuming and was carried out on its own initiative.
12/01/2023
Shoosmiths wins prestigious ‘UK Law Firm of the Year’ award for ‘clear strategy’ and ‘measurable differences’
Shoosmiths’ CEO, David Jackson, said: “We’re absolutely thrilled to have been recognised by this prestigious accolade.”
12/01/2023
Statement on communications in relation to PRIIPs and UCITS
These actions should give investment companies greater ability to explain their costs and charges to help consumers make better informed investment decisions.
12/01/2023
FCA fines three money tansfer firms for breaking competition law
They were also found to have fixed the transaction fee charged to customers when making certain money transfers from the UK to Pakistan via Small World’s Services.
12/01/2023
FCA publishes Sustainability Disclosure Requirements, with significant changes compared to consultation
It also follows the FCA’s statement earlier this month that fund managers have more work to do on embedding ESG.
11/30/2023
PIMFA welcomes FCA proposals for Sustainability Disclosure Requirements
Investment labels will help match investors with the funds that are right for them, and the added Sustainable Mixed Goals label will address the problem of funds with multi-asset strategies.
11/30/2023
BCC Iccrea Group and BNP Paribas Cardif sign a strategic partnership for life insurance in Italy
The proposal submitted by BNP Paribas Cardif, the insurance arm of the BNP Paribas Group stands out in terms of product range
11/30/2023
Personal investment firms that give bad advice to hold capital for redress
Any firm not holding enough capital will be subject to automatic asset retention rules to prevent them from disposing of their assets.
11/30/2023
OECD gives murky economic picture, as UK urged to reform triple lock
The OECD isn’t expecting any rate cuts until late 2024 and for some economies not until 2025.
11/30/2023
Opening remarks at the 50th anniversary of the London Foreign Exchange Joint Standing Committee (FXJSC) - Andrew Bailey
Given at FXJSC 50th Anniversary event held at the Bank of England, London
11/30/2023
Addleshaw Goddard: Financial Services & Banking News
The FCA has also published an accompanying Dear CEO letter, which reminds firms that they must not seek to avoid potential redress liabilities.
11/30/2023
Seventh edition of the Regulatory Initiatives Grid
FSMA 2023 also provides a framework to repeal retained EU law
11/30/2023
Allfunds receives UK regulatory authorisation
Third Country Branch
11/29/2023
FCA's unveils 'landmark' sustainability rules, but some areas will need ongoing clarification
This is vital for those funds investing across the spectrum of assets and allows the FCA to bring fund of funds into scope too.
11/29/2023
CCLA launches AdviserAction group to ‘drive sustainable outcomes’
In its survey of 20,000 consumers, the Financial Conduct Authority found that 81% would like their investments to do good as well as deliver a financial return.
11/28/2023
FCA bans two advisers for poor BSPS advice
Resulting in £9,769,550 of pension funds being transferred to riskier defined contribution schemes.
11/28/2023
Government should ‘go further’ on Isa shake-up
It will also allow partial transfers of Isa funds in-year between providers from April 2024.
11/27/2023
EU Commission announces €4bn Innovation Fund call
The Innovation Fund can cover up to 60% of a project's relevant costs, with eligibility extended to projects in the EEA, including the maritime, road transport and buildings sectors.