12/19/2023
FCA responds to the Complaints Commissioner’s Final Report into Premier FX Limited
The failure of Premier FX caused serious worry for people who had entrusted it with their money.
Legal, Regulation & Compliance
12/19/2023
An increase in the current deposit coverage level of EUR 100,000 would have limited impact on financial stability and depositor protection, an EBA simulation shows
On the other hand, it would be costly and have a somewhat negative impact on moral hazard.
12/19/2023
GDPR cyber liability and compensation rights clarified by EU court
In its ruling, the CJEU also provided further clarification of the circumstances in which individuals may be eligible for compensation in the event their personal data is compromised in a cyber incident.
12/19/2023
Banks underpricing exposure to climate risks - ECB
The report follows three previous ECB/ESRB reports on climate risk and is part of the ECB’s broader response to climate change.
12/19/2023
Aegon UK signs Finance for Biodiversity Pledge
The Finance for Biodiversity Pledge commits signatories to undertake a number of actions
12/18/2023
The EBA publishes roadmap on the implementation of the EU Banking Package
The Banking Package also includes some innovations to the European prudential framework of credit institutions with a number of mandates for the EBA.
12/18/2023
The Border Target Operating Model – what it is and what it means for your business
The Border Target Operating Model (BTOM) is a document published by the UK Government, outlining the strategy and processes for how the UK’s border should be managed in the wake of the UK’s exit from the EU.
12/18/2023
PS18/23 – Margin requirements for non-centrally cleared derivatives: Amendments to BTS 2016/2251
PRA policy statement 18/23 ꞁ FCA policy statement 23/19
12/18/2023
abrdn cuts employee benefits to reduce costs
Redundancy payments and parental leave
12/18/2023
Unlicensed Zurich IAM accused of fraud
Wetzikon-based Zwide has been accused of copying an independent asset manager in Germany.
12/15/2023
FCA welcomes the launch of industry code of conduct for ESG ratings and data products providers
The code launched will provide a benchmark for any providers that fall outside the scope of potential future regulation.
12/15/2023
Woodford investors give compensation scheme the go-ahead
Provisional numbers released after the meeting showed 93.7 per cent of investors backed the proposals.
12/15/2023
BoE holds rates and doubles down on hawkish stance
Investors have been pricing in several reductions throughout next year, but the Bank has today doubled down on its ‘higher for longer’ narrative
12/14/2023
'Unpredictable' state pension triple lock should be replaced - IFS
The Institute For Fiscal Studies paper said the triple lock
12/14/2023
The new UK Fundraising Levy review
The regulator's board will then review the responses before including them in a summary of responses to be published in early 2024.
12/13/2023
FCA closes investigation into Odey Asset Management
Crispin Odey still under investigation
12/13/2023
AJ Bell increases cash interest rates after FCA warning
The changes are expected to apply from April 1, 2024.
12/13/2023
Deutsche Bank publishes 2024 SREP requirements
These requirements set the levels below which Deutsche Bank would be required to calculate a Maximum Distributable Amount (MDA).
12/13/2023
Birmingham-based British Steel advice firm failed by the FSCS
BlueSky Wealth Management was placed into liquidation in April
12/12/2023
UK Pensions - Abolition of the lifetime allowance confirmed for 6 April 2024: what should trustees and employers be thinking about?
The Government has now published the Finance Bill, which includes over 100 pages of legislation to repeal the provisions of the Finance Act 2004 relating to the lifetime allowance.