Recognised as a particularly valuable tool in combatting fraud, confirmation of payee (CoP) is designed to stop certain types of authorised push payment (APP) fraud and accidentally misdirected payments by simply checking whether the name of the payee's account matches the name and account details provided by a payer. The...

Whilst new technology is creating exciting new ways of delivering financial services to customers, how to successfully take advantage of new digital marketing opportunities in order to capture new customers can still be a challenge for financial services (FS) firms. The holy grail remains: how do you make a fairly...

When considering the state of the global VC market, we often use the US as a benchmark (or perhaps the most active market) in order to provide an indication of trends: whether general investment activity or specific legal terms popular amongst the most prolific institutional investors. Many of the Q4/Annual...

Building upon our previous Insight on this topic, we take a fresh look at 10 more things US fund managers need to know about marketing their funds in Europe. New fund disclosure standards to protect EU investors In January 2018, the Packaged Retail Investment and Insurance-based Products (PRIIPs) Regulation came...

In April 2019, the UK government opened its consultation on transposing the Fifth Money Laundering Directive (MLD5) into national law by the 10 January 2020 deadline for transposition. MLD5 changes include, among other things, requirements for cryptoasset exchanges and custodian wallet providers. The "gold-plating" of MLD5 that the UK government...

The Directive shall apply to legal persons (but Member States may decide to apply it also to individuals); and to all types of credit, excluding workers' credits, maintenance claims, claims arising from the commission of a crime and accrued pension entitlements. The deadline for transposition of the Directive by the...

On 8 July 2016, the FCA (via its Regulatory Decisions Committee, the "RDC") issued a Decision Notice in respect of an individual, AT. That Decision Notice found that AT had recklessly made misleading statements and omissions to certain colleagues in relation to the existence of a cultural audit report on...

On 14 November 2020, the BOE published Law 7/2020 for the digital transformation of the financial system (the " Sandbox Law"), approved by the Senate's Economic Affairs and Digital Transformation Committee. This law establishes an appropriate legal framework in Spain to guarantee that the process of innovation in the financial...

The role of financial services in driving climate change action is increasingly well established. There is regular mainstream media coverage of fossil fuel divestment and environmental, social and governance (ESG) investing is now commonplace. However, biodiversity is another major environmental risk and increasing focus for ESG investing – and there...

Proposed omnibus legislation to beef up the Monetary Authority of Singapore’s (MAS) regulatory powers has been introduced in the form of the Financial Services and Markets (FSM) Bill, which was read in the Singapore Parliament for the first time on 14 February 2022. In July 2020, MAS launched a public...