‘Nearly half of legal regulators do not have undertake enough supervision of anti-money laundering (AML) efforts, according to the organisation set up to scrutinise them.’
Legal Futures, 14th March 2019
Source: www.legalfutures.co.uk
‘Financial firms could be ordered to pay up to £350,000 in compensation by a UK ombudsman in response to complaints raised about their acts or omissions from April this year.’
OUT-LAW.com, 11th March 2019
Source: www.out-law.com
‘The City watchdog is considering fresh guidelines around the sale of private polling data to hedge funds looking to profit from major political events such as Brexit.’
The Guardian, 15th January 2019
Source: www.theguardian.com
‘The Financial Conduct Authority (FCA) will become responsible for the regulation of claims management companies in Great Britain from April this year in a move broadly welcomed within the insurance sector. Legislation implementing the reforms provides some details on how the new regime will work.’
OUT-LAW.com, 7th January 2019
Source: www.out-law.com
‘The UK needs a new corporate governance regulator, with a new mandate and enhanced powers to hold company directors to account, an independent review has concluded.’
OUT-LAW.com, 20th December 2018
Source: www.out-law.com
‘The UK’s Financial Conduct Authority (FCA) has confirmed it is to make it easier for victims of authorised push payment (APP) fraud to make a complaint about a transaction.’
OUT-LAW.com, 18th December 2018
Source: www.out-law.com
‘The Financial Conduct Authority (FCA) has been criticised for allowing Lloyds Banking Group to set up a “flawed” compensation scheme for victims of a massive fraud.’
BBC News, 17th December 2018
Source: www.bbc.co.uk
‘The “multiplicity” of legal and accountancy regulators in the UK is not helping the fight against money laundering, the Financial Action Task Force (FATF) has complained.’
Legal Futures, 12th December 2018
Source: www.legalfutures.co.uk
‘The Criminal Finance Act 2017 introduced two new offences: some eighteen months on I consider below how it is being used. The offences were first mooted after the panama papers scandal, prompted by the then Prime Minister’s involvement in it. Due to this the offences were considered to be largely politically motivated and the practicalities of using them were not really considered. In my view they will very rarely be used, if at all, but that does not mean that companies do not have to monitor the measures they have put in place to comply with the legislation. The majority of prosecutions are going to come from self disclosures or whistle blowers, if at all.’
Drystone Chambers, November 2018
Source: drystone.com
‘The same issues often crop up across an array of regulatory work. Legal professional privilege is the most obvious example, with a number of high profile cases arising out of SFO investigations. A second example concerns the rights of third parties to prevent the publication of adverse comment about them in regulatory reports and decisions (‘Maxwellisation’). In this article, Jamie Smith QC and Helen Evans explain how these two issues have arisen in the context of disciplinary investigations and proceedings undertaken by the Financial Reporting Council (FRC), which plays an important role in the regulation of accountants.’
4 New Square, 11th December 2018
Source: www.4newsquare.com
‘When is a private appointment a matter of public law? In an important case on this issue, R (on the application of Holmcroft Properties Ltd) v KPMG LLP [2018] EWCA Civ 2093, the Court of Appeal recently upheld the Divisional Court’s decision that KPMG was not amenable to judicial review when acting as an independent reviewer, whose appointment by a bank was approved by the Financial Services Authority.’
Law Society's Gazette, 10th December 2018
Source: www.lawgazette.co.uk
‘As the price of the controversial “cryptocurrency” Bitcoin plunges, new figures show that the City watchdog is stepping up its investigations into the murky sector.’
Daily Telegraph, 25th November 2018
Source: www.telegraph.co.uk
‘The City watchdog has proposed a price cap on rent-to-own companies in a clampdown on “excessive charges” expected to save 300,000 vulnerable customers up to £22.7m a year.’
The Guardian, 22nd November 2018
Source: www.theguardian.com
‘A cross-bench group of MPs is gaining traction in its fight for a financial services tribunal that would bring misbehaving banks to justice, ahead of a key meeting with the chancellor this week.’
The Guardian, 20th November 2018
Source: www.theguardian.com
‘People who attempt to swap final salary company pensions for cash are being left in limbo following a controversial legal judgment.’
Daily Telegraph, 12th November 2018
Source: www.telegraph.co.uk
‘In this latest Environmental Law News Update, Christopher Badger and Mark Davies consider the environmental implications of yesterday’s Budget, a consultation between the FCA and the PRA on climate change and finance, and a recent case holding that an EIR request was “manifestly unreasonable”.’
Six Pump Court, 30th October 2018
Source: www.6pumpcourt.co.uk
‘The regulation of cryptoassets is likely to get tighter in the UK, starting from next year, according to a new report by a body tasked with exploring whether new rules are needed to address their growing popularity.’
OUT-LAW.com, 31st October 2018
Source: www.out-law.com
‘Financial Technology: Opportunities and Challenges to Law and Regulation, East China University of Political Science and Law, Shanghai, China.’
Supreme Court, 26th October 2018
Source: www.supremecourt.uk
‘The UK’s Financial Conduct Authority (FCA) will be given a set of temporary powers giving it flexibility over the operation of the transparency regime for the EU’s second Markets in Financial Instruments Directive (MiFID II) after Brexit.’
OUT-LAW.com, 16th October 2018
Source: www.out-law.com
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