The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, will launch its revamped website on Tuesday, 24 January 2023. To allow a smooth transition and prevent the loss of any submissions, all open consultations and hearings will be temporarily closed for new entries between 22 January at 18:00 CET and...
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British Steel pension redress scheme legal challenge
A legal challenge has been made against our decision to set up a redress scheme for former British Steel Pension Scheme (BSPS) members. The challenge has been made by a number of pension advisory firms that are members of the British Steel Action Group and advised by FS Law (also known as FS Legal Solicitors...
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Thematic review of retirement income advice
This review is a piece of discovery work to explore how financial adviser firms deliver retirement income advice and assess the quality of outcomes consumers get. What has prompted this work The introduction of the Government’s pension freedom reforms has changed how consumers access their retirement savings. Given the wider range of retirement options available,...
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ESMA PUBLISHES LATEST EDITION OF ITS NEWSLETTER
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published its latest edition of its Spotlight on Markets Newsletter. Your one-stop-shop in the world of EU financial markets focused on the launch of the new visual identity. ESMA is all about fostering the effectiveness and stability of EU...
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FCA publishes further information about restrictions placed on Micro-E C.I.C
This follows restrictions placed on the high-cost lender on 16 November 2022. Micro-E’s director appears to have used the director’s loan account for personal reasons. We have serious concerns that the director does not have a viable plan, or the means, to fully repay the loan within a reasonable timeframe. Micro-E does not appear to...
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Indigo Michael Limited (trading as Tappily and SafetyNet) enters administration
On 9 January 2023, Indigo Michael Limited, trading as Tappily and SafetyNet, went into administration. Joseph O’Connor, Clare Kennedy, and Simon Appell of AlixPartners UK LLP were appointed Joint Administrators. Indigo Michael Limited, trading as Tappily and SafetyNet, is a high-cost lender which provides customers with running account credit facilities; these are credit agreements with...
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ESMA PUBLISHES LATEST EDITION OF ITS NEWSLETTER
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published the November edition of its Spotlight on Markets Newsletter. Your one-stop-shop in the world of EU financial markets features an update on the memorandums of understanding (MoUs) between ESMA and non-EU authorities responsible for CCPs and a statement...
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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...
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Scam alert: Scammers fraudulently stating ASIC will guarantee their bonds
Scam alert: Scammers fraudulently stating ASIC will guarantee their bonds Scammers are using ASIC’s name and logo to issue fake bond documents to investors, holding out that ASIC will ‘guarantee’ their bonds. The scammers are targeting overseas residents and are pretending to be Australian financial services (AFS) licensees. ASIC will never provide a guarantee for...
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Restrictions placed on Micro-E C.I.C
On 16 November 2022, we imposed a number of requirements on Micro-E C.I.C. (Micro-E), an authorized High-Cost Lender, and required Micro-E to cease providing either loans or credit to any new or existing customers.
Civil rights law practice area legal advice is the application of abstract principles of law to the concrete facts of the client’s case.