Premier League may face legal action from club over third-party rules – The Guardian

Posted February 9th, 2024 in financial regulation, news, sport, third parties by michael

‘The Premier League may face a new legal challenge from one of its own clubs after approving new rules that would limit the ability of teams to buy players or strike sponsorship deals with parties related to their ownership.’

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The Guardian, 9th February 2024

Source: www.theguardian.com

HSBC fined £57.4m for customer deposit protection failings – BBC News

Posted January 30th, 2024 in banking, deposits, financial regulation, fines, news by tracey

‘HSBC has been fined £57.4m by the Bank of England for “serious failings” over its requirements to protect customer deposits.’

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BBC News, 30th January 2024

Source: www.bbc.co.uk

UK to legislate for cryptoasset regulatory regime – OUT-LAW.com

‘The UK government has confirmed that it will legislate for a new regulatory framework for cryptoassets.’

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OUT-LAW.com, 31st October 2023

Source: www.pinsentmasons.com

UK government to introduce new rules to restrict ‘de-banking’ – OUT-LAW.com

‘The UK chancellor has announced new rules to restrict the practice of ‘de-banking’ amid reports that some banks may have closed customer accounts because of their political beliefs.’

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OUT-LAW.com, 25th October 2023

Source: www.pinsentmasons.com

UK regulators’ diversity plans for finance industry – OUT-LAW.com

‘Plans by the UK’s two financial regulators to consider non-financial misconduct such as sexual harassment as grounds for regulatory action could pose difficult questions for firms, an expert has said.’

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OUT-LAW.com, 28th September 2023

Source: www.pinsentmasons.com

Financial Services and Markets Act 2023: Financial promotions and cryptoassets – Mills & Reeve

Posted August 25th, 2023 in brexit, chambers articles, cryptocurrencies, financial regulation, news by sally

‘The Financial Services and Markets Act 2023 (FSMA 2023) has recently come into force, having received Royal Assent on 29 June 2023. It’s a significant piece of legislation which will introduce some fundamental changes to UK’s post-Brexit and regulatory landscape.’

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Mills & Reeve, 24th August 2023

Source: www.mills-reeve.com

UK sustainability disclosure standards expected by July 2024 – OUT-LAW.com

‘New UK sustainability corporate disclosure standards are expected to be endorsed by the UK government by July 2024.’

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OUT-LAW.com, 16th August 2023

Source: www.pinsentmasons.com

Shah v Pensions Regulator: UT confirms Contribution Notice – Pensions Barrister

‘On Friday 28 July, the Upper Tribunal (Tax and Chancery Chamber) published its decision in Shah v The Pensions Regulator [2023] UKUT 00183 (TCC), in which it upheld the issue by tPR’s Determinations Panel of a contribution notice under s.38 of the Pensions Act 2004.’

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Pensions Barrister, 31st July 2023

Source: www.pensionsbarrister.com

Consumer Duty: ‘most significant change’ to UK financial services regulation in a decade comes into force – OUT-LAW.com

Posted August 1st, 2023 in complaints, consumer protection, financial regulation, news, ombudsmen by sally

‘The Consumer Duty, which comes into force today, is the “most significant change to financial services regulation” in a decade, according to one legal expert.’

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OUT-LAW.com, 31st July 2023

Source: www.pinsentmasons.com

UK retail financial services set for biggest overhaul in 20 years – The Guardian

‘The biggest regulatory shake-up of UK retail financial services for two decades will come into force on Monday in an effort to crack down on rip-offs and poor customer service.’

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The Guardian, 31st July 2023

Source: www.theguardian.com

New Act – legislation.gov.uk

Posted July 21st, 2023 in financial regulation, legislation by tracey

2023 c. 30 – Finance (No. 2) Act 2023

Source: www.legislation.gov.uk

New Financial Services and Markets Act will establish UK’s post-Brexit regulatory framework – OUT-LAW.com

Posted June 30th, 2023 in bills, brexit, EC law, financial regulation, news by tracey

‘Less than a year since it was first laid before parliament, the Financial Services and Markets Bill has been granted Royal Assent – firing the starting pistol on what is likely to be a marathon effort to establish the UK’s post-Brexit financial services legislative and regulatory landscape.’

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OUT-LAW.com, 29th June 2023

Source: www.pinsentmasons.com

New recommendations for reform and development of the law on digital assets to secure UK’s position as global crypto hub – Law Commission

‘The Law Commission of England and Wales has today published recommendations for reform and development of the law relating to digital assets.’

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Law Commission, 28th June 2023

Source: www.lawcom.gov.uk

Crypto ads will need to carry risk warnings under new UK rules – The Guardian

Posted June 8th, 2023 in advertising, cryptocurrencies, financial regulation, news by tracey

‘Crypto firms must warn customers they should not expect protection if their investment goes wrong and introduce a “cooling off” period for first-time investors, under new rules imposed by the UK financial watchdog.’

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The Guardian, 8th June 2023

Source: www.theguardian.com

UK watchdog plans to shake up stock listing rules – BBC News

‘The UK’s financial watchdog has announced plans to shake up its rules in a bid to attract more companies to list shares on UK stock markets.’

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BBC News, 3rd May 2023

Source: www.bbc.co.uk

PwC fined for Babcock audit failings including creating false record – The Guardian

Posted March 9th, 2023 in accounts, auditors, financial regulation, fines, news, standards by sally

‘The consultancy group PwC has been hit with a £7.5m fine over a string of serious breaches while auditing the engineering company Babcock’s accounts, including creating a false record of documents reviewed for a sensitive government contract.’

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The Guardian, 8th March 2023

Source: www.theguardian.com

A sustainable future – reforming club football governance – Government publications

Posted March 2nd, 2023 in financial regulation, licensing, news, parliamentary papers, sport by tracey

‘This White Paper sets out the government’s comprehensive plan to introduce an independent regulator for professional clubs in the English football pyramid.’

Full paper

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Government publications, 23rd February 2023

Source: assets.publishing.service.gov.uk

FCA set to regulate ‘buy now pay later’ payment products in UK – OUT-LAW.com

‘The UK government has published draft legislation which would bring the fast-growing “buy now pay later” (BNPL) industry within Financial Conduct Authority (FCA) regulation and bolster protection for consumers.’

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OUT-LAW.com, 17th February 2023

Source: www.pinsentmasons.com

Government promises robust crypto regulation – BBC News

Posted February 1st, 2023 in cryptocurrencies, financial regulation, government departments, news by sally

‘The government is announcing measures to “robustly” regulate the cryptocurrency industry.’

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BBC News, 31st January 2023

Source: www.bbc.co.uk

FCA fines show focus remains on AML compliance – OUT-LAW.com

Posted January 16th, 2023 in banking, financial regulation, financial services ombudsman, fines, news by tracey

‘Recent fines issued to two banks by the Financial Conduct Authority (FCA) highlight the regulator’s continued focus on driving compliance with anti-money laundering (AML) requirements in UK financial services, an expert has said.’

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OUT-LAW.com, 13th January 2023

Source: www.pinsentmasons.com