Court of Appeal sets out correct approach to transfer of long-term Insurance. By Victoria Sander, Jon Holland, Alex Cox, and Duncan Graves Latham & Watkins has won an appeal on behalf of Rothesay Life Plc (Rothesay) in an unprecedented challenge to the High Court’s refusal to sanction the transfer of around 370,000 annuity policies in … Continue Reading
The Bank of Italy has called on UK financial institutions to inform their Italian clients of Brexit consequences promptly. By Isabella Porchia On February 19, 2019, the Bank of Italy issued a notice to UK financial institutions operating in Italy requesting they promptly inform their Italian clients of Brexit consequences. The notice applies to banks, … Continue Reading
By Nicola Higgs, Fiona MacLean, Brett Carr, and Catherine Campbell Technology outsourcing by financial institutions (FIs) has increased in recent years as FIs look to the latest innovations to improve their day-to-day business processes and to reduce costs. FIs outsource key functions to a host of regulated and unregulated third-party service providers, and the sector is … Continue Reading
FEMR progress report commends the efforts of firms to drive higher market standards By Rob Moulton and Katy Sanders HM Treasury (HMT), Bank of England (BoE), and the Financial Conduct Authority (FCA) have issued a progress report in relation to the Fair and Effective Markets Review (FEMR). The progress report follows almost three years after … Continue Reading
Many auto advisers and automated discretionary investment managers risk poor outcomes for customers by falling short of FCA expectations. By Nicola Higgs and Brett Carr The Financial Conduct Authority (FCA) has issued a statement outlining its expectations of firms providing automated online discretionary investment management (ODIM) services and retail investment auto advisers (auto advisors). The … Continue Reading
