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The clampdown on mis-selling practices
Archive
18 Mar
2016
mis-selling, national audit office, FCA, Financial Ombudsman

The clampdown on mis-selling practices

On 24 February, the National Audit Office of the UK published the findings of a report carried out by the Comptroller and the Auditor General which looked at financial services mis-selling.  The definition of mis-selling is currently “a failure to deliver fair outcomes for customers” and this includes providing customers with misleading information or recommending Read More

03 Mar
2016
benchmark regulation, benchmarks regulation, benchmarking, esma discussion paper benchmarks, wheatley review, LIBOR, EURIBOR,

On your marks for the Benchmarks Regulation

On 15 February, ESMA released a discussion paper with the purpose of consulting stakeholder opinions on the technical implementation of the incoming Benchmarks Regulation.  This regulatory process was initiated on 18 September 2013 at an EU level when the Commission published a legislative proposal for a new regulation on benchmarks, which falls in line with Read More

16 Feb
2016

RegRoundup 16 February: Steps in multiple directions; a delay, another agreement and a whole new round of fines

This week, the EU commission published the responses to their call for information on the impact of EU regulation so far.  The FCA’s response, also published this week, has been similar to other feedback in citing the constraints on both the banks and the real economy of financing themselves, overly complex reporting obligations and spill-over Read More

05 Feb
2016
Online Dispute Resolution, ODR

Online dispute resolution is here

The European Commission is in the final stages of launching its online dispute resolution (ODR) platform to the public.  This has been an extended process which involved the publication of a designated regulation on online dispute resolution for consumer disputes back in 2013.  As of 7 January 2016, the launch of the platform was heralded Read More

25 Jan
2016

A busy month for financial services regulation

In the past month, we’ve celebrated the holiday season and brought in the new year, but there has been no rest for the wicked and regulators have been busy scrambling to meet deadlines and push out new regulatory documents.  In the period before Christmas, we witnessed a lot of developments and it’s safe to say Read More

11 Jan
2016

RegRoundup 11 January: risks and regulatory battles

The new year has not brought any better luck for China’s economy. As stocks continue to slump, the People’s Bank has again devalued the Yuan to somewhat limited results. Meanwhile the debate over how best to control Wall Street is getting no less fiery. Bernie Sanders has made clear his intentions to ringfence investment banks Read More