06/26/2023
Adviser to pay £106k to FSCS for poor DB transfer advice
This is despite the FCA's guidance creating a presumption against advising a client to transfer.
Legal, Regulation & Compliance
06/23/2023
Recession lurking down the tracks as BoE takes drastic action
Clearly interest rates are a blunt tool and are failing to have the desired effect in dampening demand but the BoE will keep using them.
06/23/2023
UK banks to ramp up data sharing in dirty money crackdown
Banks have long been wary of sharing customer data for fear of falling foul of strict British and global data protection and privacy laws, which could trigger litigation by customers whose accounts have been locked pending investigations.
06/23/2023
Thrings Shortlisted for award in Recognition of support to developing businesses
As a finalist in the Legal category for the awards taking place in September, Thrings continues to build on the recognition as a hub for business growth, helping hundreds of SMEs to thrive each year
06/23/2023
European Banking Authority Finds Payment Sector AML/CFT Controls Lacking
This makes it possible for firms lacking proper AML/CFT measures to conduct business in the EU by establishing themselves in countries with insufficient supervision.
06/23/2023
Calls for alternative pensions approach for doctors
Murray also pointed out that the chancellor himself had also suggested a doctors-only scheme “less than a year ago”.
06/22/2023
DWP review fails to address unnecessary points of friction in its pension transfer regulations
These regulations empowered pension schemes to raise red and amber flags where they saw risk of consumer harm, and in particular scams.
06/22/2023
Bank of England adopts ISO 20022
The central bank said businesses and consumers are unlikely to need to change their payments processes.
06/22/2023
Swiss National Bank tightens monetary policy further and raises SNB policy rate to 1.75%
From 2024 onwards, the new forecast is higher than in March, despite today’s increase in the SNB policy rate.
06/22/2023
Linklaters advises on a trio of high yield and leveraged financings for Triton
Linklaters also advised Italian-based portfolio company Bormioli Pharma
06/22/2023
Linklaters advises GIC and Copenhagen Infrastructure Partners
The first €270m tranche will add to the existing funding sources for the construction of the first stage of Golden Plains Wind Farm
06/22/2023
Lifetime Isa withdrawal charges soar 53 per cent
The consumer is also hampered if they purchase a home with a Lisa that is worth more than £450,000, a figure which has not changed since 2017.
06/21/2023
Margrethe Vestager to run for European Investment Bank top job
EU’s competition and digital regulation commissioner put forward as candidate for presidency by Danish government
06/21/2023
Addleshaw Goddard: Financial Services & Banking News
The date for the House of Commons to further consider the Lords amendments is yet to be announced.
06/21/2023
Financial stability risks from the non-bank sector: thinking system wide
Speech by Lee Foulger
06/20/2023
Crispin Odey no longer regulated to deal directly with clients
Holds no regulatory approval
06/19/2023
Addleshaw Goddard: Financial Services & Banking News
The EBA believes addressing these points will be essential to protecting the EU's single market from financial crime
06/19/2023
FCA receives 43 sexual harassment reports in 5 years
Crispin Odey fired the executive committee of OAM when they tried to reign the company’s founder in after launching a formal investigation into his behaviour.
06/19/2023
Odey AM employee assets restricted by FCA
Client assets remain unrestricted
06/19/2023
FCA proposals likely to hurt smaller MPS providers
Regulation aligning wealth and fund management activities will not worry large managed portfolio service providers but could threaten smaller businesses, warn industry figures.