Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorized or registered by us. This firm is not authorized by us and is targeting people in the UK. You will not have access to the Financial Ombudsman Service or be protected by the Financial Services...
Author: EMA Investments
COASTAL CITY SAVINGS
We believe this firm may be providing financial services or products in the UK without our authorization. Find out why you should be wary of dealing with this unauthorized firm and how to protect yourself. Almost all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized...
Sparkle Finance – Direct Lender / Sparkle Finance Services Limited
Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorized or registered by us. This firm is not authorized by us and is targeting people in the UK. You will not have access to the Financial Ombudsman Service or be protected by the Financial Services...
FCA fines Metro Bank PLC £10 million and publishes Decision Notices for two of its former executive directors
The FCA has also decided to fine Metro Bank’s former Chief Executive Craig Donaldson and former Chief Financial Officer David Arden £223,100 and £134,600, respectively, for being knowingly concerned in Metro Bank’s breach. Metro Bank has not referred the FCA’s decision to the Upper Tribunal. The two individuals have referred their respective Decision Notices to...
ESAS PUBLISH JOINT ADVICE TO THE EU COMMISSION ON THE REVIEW OF THE SECURITISATION PRUDENTIAL FRAMEWORK
The three European Supervisory Authorities (EBA, EIOPA, and ESMA – ESAs) today published a joint advice in response to the European Commission’s October 2021 call for advice on the review of the prudential securitization framework. The ESAs welcome the current review as an opportunity to assess the performance of the current framework and support the...
FCA fines Santander UK £107.7 million for repeated anti-money laundering failures
Between 31 December 2012 and 18 October 2017, Santander failed to properly oversee and manage its AML systems, which significantly impacted the accounting oversight of more than 560,000 business customers. Santander had ineffective systems to adequately verify the information provided by customers about the business they would be doing. The firm also failed to properly...
ASIC sues McPherson’s and its former CEO alleging continuous disclosure and directors’ duties breaches, misleading statements
ASIC has commenced proceedings in the Federal Court against health, beauty, and wellness company McPherson’s Limited (ASX: MCP) for allegedly breaching its continuous disclosure obligations and engaging in misleading or deceptive conduct during capital raising in late 2020. On 20 October 2020, McPherson provided earnings guidance to the ASX forecasting growth in profit before tax...
FCA fines three broker firms £4,775,200 for failures relating to the detection of market abuse
The FCA has fined BGC Brokers LP, GFI Brokers Limited, and GFI Securities Limited (together, BGC/GFI) £4,775,200 for failing to ensure they had appropriate systems and controls in place to effectively detect market abuse. BGC/GFI failed to properly implement the Market Abuse Regulation (MAR) trade surveillance requirements. This meant there was an increased risk that...
ASIC commences proceedings against OnePath Life alleging utmost good faith breach
ASIC has commenced proceedings in the Federal Court against insurance company OnePath Life Limited (OnePath Life), alleging it failed to comply with its duty to act with utmost good faith during claims handling. This is the first time ASIC is seeking financial penalties for a breach of this duty, following the introduction of new civil...
Support available for mortgages as interest rates rise
Interest rates have been rising since December 2021. But the recent rise, coupled with the higher cost of living, may mean you’re worried about how to support yourself and your family. If you’re looking for a new mortgage you might be worried about whether you’ll be accepted by lenders. If you’d like advice on a...
Civil rights law practice area legal advice is the application of abstract principles of law to the concrete facts of the client’s case.