02/28/2023
FINMA concludes “Greensill” proceedings against Credit Suisse
FINMA will appoint an audit mandatary to review compliance with these supervisory measures.
Legal, Regulation & Compliance
02/27/2023
Norwegian billionaire fails to overturn conviction for lying to UK court in £285m Deutsche Bank dispute
But after struggling to recover debts from Sebastian Holdings, the lender pursued Vik directly.
02/27/2023
FCA issues warning against unauthorised bank
Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised or registered by the FCA.
02/27/2023
The Italian arbitration reform - the new arbitrators' power to grant interim measures
The reform provides for the preservation of the domestic courts' jurisdiction to challenge interim measures.
02/27/2023
FSCS declares four firms in default
Of the claims, 38 are in progress, one has been upheld and one rejected.
02/27/2023
FCA issues warning against unauthorised bank
According to the Spring Well Bank website, it offers the ability to open an account online, transfer money and invest it.
02/24/2023
FCA consults on SDR and investment labels to combat greenwashing
With ethical businesses practices coming under increasing investor scrutiny, some businesses and managers may attempt ‘greenwashing’ to circumvent investment regulations.
02/24/2023
Dutch DPA threatens passenger data processing ban over ‘unlawful’ implementation
The court clarified that the system introduced by the PNR Directive can only cover clearly identifiable and circumscribed information listed in its Annex I
02/24/2023
Maples Group Named Top Legal Adviser to Irish-Serviced Funds for 10th Year
The publication of the ranking follows the firm's success at the ETF Stream Awards 2022 last November, where the firm was awarded ETF Law Firm of the Year.
02/23/2023
Ascot Lloyd-linked advice firm fails
FSCS has received claims about the business as well as two other companies declared in default
02/23/2023
FCA forces firms to stop making misleading British Steel Pension Scheme offers
Under the redress scheme, firms will have to review the advice they gave and pay redress to those who lost money because the advice was unsuitable.
02/23/2023
Global trends in online construction dispute hearings
In the UK, online hearings in the court system have proven so invaluable in recent years that the High Court has mandated them as the default position for all hearings under half a day.
02/23/2023
Addleshaw Goddard: Financial Services & Banking News
Mr Mills states that focusing on the areas that will have the greatest impact on consumer outcomes should be every firm’s priority ahead of the 31 July deadline for open products and services.
02/23/2023
BNP Paribas sued in France over fossil-fuel financing
A ruling in a case by environmental groups against TotalEnergies, a client of BNP Paribas, is expected on Tuesday.
02/22/2023
Armchair detective investors take inspiration from Sherlock Holmes to foil investment scams
Analysis of data from the FCA’s consumer helpline has shown a 193% increase in calls to the FCA in the last five years, as investors detect investment scam warning signs.
02/22/2023
FCA publishes new Discussion Paper on updating and improving the UK regulatory regime for asset management
The DP does not provide any detailed recommendations for discussion, but flags at a high level possible directions of travel across a broad range of areas.
02/22/2023
PRA chief urges insurers to 'move on' from Solvency II debate - reports
From debate to implementation
02/22/2023
Adviser takes Nottingham firm to tribunal
FTAdviser understands the owner, Kevin Maurice Kingswood, retired that year.
02/22/2023
IHT receipts show new year-on-year rise
This £3,000 annual allowance can only be brought forward for one tax year
02/22/2023
Experts warn UK businesses of imminent changes to anti-money laundering regulations
For dealings with trust entities, businesses subject to the MLRs will have to comply with checks of the trust registration service (TRS) that is maintained by HM Revenue and Customs (HMRC).