04/17/2024
Pension pressures persist as FCA data reveals a 14.6% surge in lump sums
The latest FCA retirement income data suggests the cost-of-living crisis continued to exert pressure on pension withdrawals in the fiscal year 2022-23.
Legal, Regulation & Compliance
04/17/2024
MP raises 'serious concerns' about FCA's handling of Woodford scandal
The warning notices given to Woodford and his firm are not the FCA's final decisions
04/17/2024
Norton Rose Fulbright advises financiers on Star Bulk acquisition
The team was led by Norton Rose Fulbright Co-Head of Asset Finance and Head of Greece Yianni Cheilas and Athens partner Evi Platsidaki
04/16/2024
Asset management: common errors when applying for authorisation
Before applying for authorisation, firms wishing to operate in the asset management sector should consider the points below, alongside the relevant information for your type of firm.
04/16/2024
FCA statement regarding motor finance firms’ financial resources
This will help ensure firms are able to act promptly to resolve complaints if we decide the pause should be lifted and complaint handling should resume.
04/16/2024
Nic Cicutti: FCA won’t back down on ongoing charges
Advisers should expect continued scrutiny by the regulator regardless of the name of the regime under which they come
04/16/2024
Financial Services & Banking News
The PRA states it is issuing the statement to respond to clarifications requested by firms
04/15/2024
Ex-Man Utd footballer sues his former SJP adviser over £750k unclear fees
Chris Smalling is suing Klipp Wealth Management, a representative of SJP, for £750,000, alleging it failed to accurately disclose fees.
04/15/2024
Solvency II Review – Matching adjustment reform implementation considerations for 30 June 2024
The PRA will seek to ensure that no unintended changes are made to the PRA’s policy on assets which are considered to have ‘fixed’ cash flows.
04/15/2024
Addleshaw Goddard: Financial Services & Banking News
The 2024 Workplan refreshes the 2023-2024 IOSCO Work Programme.
04/12/2024
The furnished holiday lettings regime checks out
FHL owners who are individuals enjoy tax advantages unavailable to owners of standard property rental businesses.
04/12/2024
ECB holds rates but signals first cut could come soon
Given the Federal Reserve is now expected to resist making any cuts for some time yet, and the Bank of England faces a difficult balancing act, the ECB could well be the first to make a move.
04/12/2024
FCA sets out findings against Link Fund Solutions
In a separate action, the FCA has issued warning notices to Neil Woodford and WIM proposing to take action against them for their conduct in the management of the WEIF.
04/12/2024
Generali Switzerland: Trouble about rental deposits
The provider of digitally processed rental deposits has filed a lawsuit against the Swiss subsidiary of the Italian financial group at the Bern Commercial Court.
04/12/2024
Addleshaw Goddard: Financial Services & Banking News
Under the Digital Operation Resilience Act (DORA), and starting from 2025, financial entities will have to maintain registers of information regarding their use of ICT third-party providers.
04/11/2024
Banking stability: Federal Council wants to close gaps in too-big-to-fail regulation
Banking stability: Federal Council wants to close gaps in too-big-to-fail regulation
04/11/2024
FCA report shows millions still struggling with bills
More than five million have missed payments recently, though that’s an improvement from the previous year.
04/11/2024
Woodford points finger at Link and FCA as watchdog proposes action
Regulator claims fund manager Neil Woodford had a defective and unreasonably narrow understanding of his responsibilities.
04/11/2024
Prudential Regulation Authority Business Plan 2024/25
The 2024/25 Business Plan sets out the workplan for each of the PRA’s strategic priorities, together with an overview of the PRA’s budget for 2024/25.
04/10/2024
FCA publishes finalised guidance on social media and financial promotions
The FCA has repeated its guidance that financial promotions must be standalone compliant, irrelevant of the media used