04/18/2023
The MFSA’s Supervisory Priorities 2023
Consumer Protection and Education - follow ups on supervisory inspections undertaken during 2022 on license holders to ensure all MiFID II requirements are satisfied.
Legal, Regulation & Compliance
04/18/2023
WTW advises Swiss pension funds to review asset managers due to banking turmoil
Banking sector shockwaves mean pension companies should ‘make any changes deemed necessary’.
04/18/2023
ECB welcomes expert group recommendations on European banking supervision
The report acknowledges that European banking supervision has made good progress in ensuring that banks maintain sufficient capital levels and notes that the current level of capital requirements for supervised banks looks broadly adequate.
04/17/2023
Exchanges and asset managers square off over EU market rules
Exchanges, which earn money from market data, say parliament is going beyond transparency to give investors a trading tool
04/17/2023
FCO one step closer to obtaining unprecedented intervention powers following governmental approval of draft German competition law reform
The draft will now enter the legislative procedure.
04/17/2023
Is the UBS-Credit Suisse Deal on the Brink of Collapse?
By taking that route, approval through an extraordinary session of parliament was to have been a formality.
04/17/2023
IMF: Stress test of shadow banking could hinder sector regulation - reports
‘Distorted picture'
04/14/2023
EU watchdogs eye changes to Sustainable Finance Disclosure Regulation
Comments wanted by 4 July 2023
04/14/2023
CySEC imposes a fine of one million euro on Itrade Global (Cy) Ltd
Penalty issued over company’s failure, among other, to implement policies and procedures to monitor the activities of its Tied Agent in Spain
04/13/2023
Guidance Note: A Look Through the Obligation of Transaction Monitoring
The ultimate goal remains that of minimising the risk of illicit funds entering the Maltese economy, thus safeguarding the integrity and stability of the financial system.
04/13/2023
Norway wealth fund employee sues for workplace gender discrimination
The central bank, which pushes the firms it invests in to have more women on their boards and to combat all forms of discrimination, denies the allegations.
04/13/2023
Swiss Re shareholders approve all proposals at 2023 AGM
Shareholders approved the re-election of Sergio P. Ermotti as the Chairman of the Board of Directors.
04/13/2023
British Steel pension redress scheme legal challenge dropped
This challenge has, in our view, been pursued unreasonably with little intention to go to trial so we are also pleased BSAG has agreed to make a substantial contribution to our costs.
04/13/2023
PRA fines the former Chief Information Officer of TSB Bank plc for a breach of the PRA’s Senior Manager Conduct Rules
The PRA has fined Mr Carlos Abarca, the former Chief Information Officer of TSB Bank plc, for breaching PRA Senior Manager Conduct Rules.
04/13/2023
'DWP must ensure small pension pots disruption is in savers' best interest'
Each of these options could consolidate small sub £1,000 pots but either of the proposed small pots solutions has the potential to consolidate much larger pots, potentially until savers have only the active pot.
04/12/2023
FCA orders WealthTek Limited Liability Partnership to cease operations as High Court appoints Joint Special Administrators and arrest made
The FCA is in close contact with the Joint Special Administrators and further information will be made available by them in due course.
04/11/2023
FCA and ASA team up with Sharon Gaffka to warn fin-fluencers of risks of promoting illegal ‘get rich quick’ schemes
Influencer agents and the Influencer Marketing Trade Body will be invited by the FCA to an open roundtable discussion on illegal financial promotions.
04/06/2023
Employer Compliance – Spring Statement 2023 update & Reporting Employment Related Securities
Currently employers are required to notify HMRC within 92 days of grant – a deadline which can easily be missed but which HMRC take very seriously.
04/06/2023
Bank of England split on future path of rate hikes
Huw Pill and Silvana Tenreyro
04/06/2023
FCA business plan highlights need for stronger government action on scams
The Online Safety Bill is a first step to tackling scams