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Showing 91 - 100 of 1160 matches filtered by 'Banking and finance'

  • Court of Appeal overturns the High Court’s decision in Prudential-Rothesay transfer

    11/12/2020
    Context Without Part VII transfers the UK life market would be very different. Once a Part VII transfer is effective, it will transfer retail policies, buy-in contracts, reinsurance and other connected contracts, assets and liabilities, without the interested parties being able to opt out. Policyholders with the right to withdraw ...
  • FCA confirms final rules for ban on marketing of speculative illiquid securities, such as “mini-bonds” to retail investors

    11/12/2020
    The FCA yesterday published its final rules on the marketing of speculative mini-bonds to retail investors, which will apply from 1 January 2021. This follows the FCA’s introduction of temporary rules banning the marketing of these instruments to retail investors on 1 January 2020, and a subsequent consultation relating to ...
  • UK regulator publishes portfolio strategy letter for mainstream consumer credit lenders

    09/12/2020
    The Financial Conduct Authority (FCA) has published a 'Dear Board of Directors' letter it had sent to mainstream consumer credit lenders (MCCL). The letter, published on December 2, is relevant to firms involved in mainstream lending (such as those providing unsecured overdrafts, loans or credit cards), including those in other ...
  • FCA review of delayed disclosure of inside information notifications

    09/12/2020
    The FCA recently published a review of Delayed Disclosure of Inside Information (“DDII”) notifications received under Article 17.4 of MAR[1] in which they have identified a number of areas in which it will be increasing its oversight going forward, aimed generally at raising awareness of the DDII notification requirements and ...
  • Firms must update their documentation to exclude reference to SECCI

    26/11/2020
    In a recent development, the statutory instrument addressing the Standard European Consumer Credit Information sheet (“SECCI”) transition was laid. The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (“The Regulations”) comes into force on 30 December 2020 and firms must consequently ensure any references to ...
  • Tax regime of foreign investment funds equated to Italian funds

    25/11/2020
    According to the 2021 Draft Finance Law, with regard to the taxation of dividends and capital gains deriving from shareholdings of companies with tax residence in Italy, the current discrimination between investment funds established in Italy and established abroad will cease. The current Italian domestic rules provide for the exemption ...
  • FCA confirms updated support for consumer credit customers

    20/11/2020
    The FCA has published updated guidance to firms confirming the enhanced support that should be made available to consumer credit customers who are facing payment difficulties as a result of coronavirus. The guidance comes into force on 25 November 2020, but firms are encouraged to implement this guidance earlier, if ...
  • FCA confirms updated support for mortgage borrowers

    18/11/2020
    The FCA has published updated Payment Deferral Guidance outlining enhanced support that should be available to mortgage borrowers experiencing payment difficulties due to the Covid-19 pandemic. The FCA also published Tailored Support Guidance which explains support firms should provide to mortgage borrowers who have come to the end of a ...
  • Executive Remuneration in a post-Covid world

    16/11/2020
    This is the first in our new series focusing on Executive Remuneration. In this update we look at Executive Remuneration during the pandemic and consider some of the key points that organisations should take into account during these unique times. Given the stark statistics that between March and June 2020, ...
  • Consumer Credit Update: Changes to Notices – what needs to be done?

    12/11/2020
    HM Treasury has published The Consumer Credit (Enforcement, Default and Termination Notices) (Coronavirus) (Amendment) Regulations 2020 (the Amending Regulations), coming into force on 2 December 2020. The Amending Regulations amend the Consumer Credit (Enforcement, Default and Termination Notices) Regulations 1983 (the 1983 Regulations), which prescribe the form and content of ...