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Sep 17, 2024 | 
natlawreview.com | Chris Webber
The FCA has been focused on appointed representatives (“ARs”) for many years now, dating back to its 2016 and 2019 thematic reviews. It grudgingly accepts that the AR regime has some cost efficiency, competition, and market access benefits. But it sees ARs as high risk, because it perceives that often principal firms undertake inadequate due diligence before appointing ARs and are lax with their ongoing oversight.
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Sep 12, 2024 | 
natlawreview.com | Chris Webber |Kathryn Rattigan |Lynn L. Bergeson |Carla N. Hutton
The Cybersecurity and Infrastructure Security Agency (CISA), along with the Federal Bureau of Investigation (FBI), the National Security Agency, and other international partners, issued an Alert on September 5, 2024, warning that cyber actors affiliated with the Russian military are targeting critical infrastructure, government services, financial services, transportation systems, energy, and healthcare sectors of NATO members.
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Sep 12, 2024 | 
natlawreview.com | Chris Webber
The FCA has been focused on appointed representatives (“ARs”) for many years now, dating back to its 2016 and 2019 thematic reviews. It grudgingly accepts that the AR regime has some cost efficiency, competition, and market access benefits. But it sees ARs as high risk, because it perceives that often principal firms undertake inadequate due diligence before appointing ARs and are lax with their ongoing oversight.
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Nov 15, 2023 | 
natlawreview.com | Catherine O'Brien |Catherine O'brien |Cynthia Martens |Chris Webber |James Brady
In response to the Biden administration's resounding call for more transparency in consumer pricing, the Federal Trade Commission (FTC) has unveiled a proposed rule on "junk fees," setting the stage to significantly impact the consumer marketplace. The FTC is currently soliciting public comments on this proposed rule, designed to regulate what the FTC sees as pervasive unfair and deceptive practices associated with fees that consumers pay for goods and services.
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Nov 15, 2023 | 
natlawreview.com | Chris Webber |Rachel E. Hudgins |Syed S. Ahmad
Patrick Gunning from King & Wood Mallesons reports that, on November 2, 2023, the Australian Information Commissioner filed proceedings in the Federal Court of Australia against Australian Clinical Labs Limited seeking a civil penalty (i.e., a fine) in connection with the company’s response to a data breach that occurred in February 2022.
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Nov 15, 2023 | 
natlawreview.com | Chris Webber |Keith Bishop |Kathryn J. Russo
Skip to main contentNovember 15, 2023Volume XIII, Number 319Legal Analysis. Expertly Written. Quickly Found. Trending NewsManaging Outside Investigators – Best Practices for Employers PrintMailDownloadiWhen workplace misconduct, whistleblowing or harassment is at issue, employers commonly turn to outside investigators to help ensure an unbiased investigation that will withstand challenge in future litigation.
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Nov 15, 2023 | 
natlawreview.com | Chris Webber
The Supreme Court has today provided important clarification on when “deliberate concealment” or “deliberate commission of a breach of duty” by a defendant will extend the limitation period for bringing claims. The decision is bad news for financial services firms affected by PPI mis-selling claims and other claims in which firms are accused of making secret commissions on financial products, such as interest rate swaps and other derivatives.
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May 4, 2023 | 
natlawreview.com | Chris Webber
Earlier this year, the Financial Conduct Authority published its analysis of its financial promotions data for 2022. That report sheds some interesting light on the FCA’s actions taken against authorised firms, and unauthorised entities and individuals, for breaches of financial promotion rules. The standout message is clear – the FCA has significantly increased its interventionist activity, in response to what the FCA has said is poor financial promotions compliance.
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Apr 23, 2023 | 
natlawreview.com | Chris Webber
The Financial Conduct Authority confirmed last month that the limit for compensation that can be awarded by the Financial Ombudsman Service (“FOS”) will be raised from £375,000 to £415,000, for complaints made after 1 April 2023 relating to acts or omissions on or after 1 April 2019 – an increase of over 10%. A lower limit of £190,000 applies to any complaints made from 1 April 2023 relating to events that occurred prior to 1 April 2019 – again an increase of over 10%, from £170,000 in 2022.
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Feb 9, 2023 | 
natlawreview.com | Chris Webber
Thursday, February 9, 2023 Since July 2022 when the FCA published its rules and guidance to implement the Consumer Duty, much ink has been spilled on what it will mean for affected firms. Now, with the clock ticking down to implementation on 31 July 2023, the FCA has published the findings of its review of a number of larger firms’ plans for complying with the Duty. “Could do better” is the overall mark on the industry’s homework so far. What will the Consumer Duty involve?
