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.
Legal, Regulation & Compliance
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.
11/27/2023
HSBC UK investigating as customers struggle to access banking services
The bank has apologised to customers and is working to restore its mobile and online banking service, including the authorising of online card purchases via the app.
11/27/2023
Addleshaw Goddard: Financial Services & Banking News
The report explores where AI is currently being deployed; where it shows promise for the future; and how to make the most of the opportunities on offer.
11/27/2023
FCA finds investment firm IFPR understanding still lacking
This is the final report from the FCA on the implementation of IFPR.
11/27/2023
Klarna gets full UK approval to offer credit and payments, but BNPL goes unregulated
The Stockholm-headquartered fintech established a new UK holding company called Klarna Financial Services UK to secure regulatory approval.
11/27/2023
FCA bans Nigel Lewis and Susan Jones for incompetent British Steel Pension Scheme advice
Mr Lewis has also been banned from holding any senior management functions in a regulated firm.