Richard Ellis

2 months ago | charlesrussellspeechlys.com | Racheal Muldoon |Charlotte Hill |Richard Ellis |Nick White |Rebecca Wright

For some time now, the Bank of England (BoE) and HM Treasury have been examining the concept of a digital pound. It is envisaged that a digital pound would (i) be a central bank digital currency (CBDC) issued by the BoE (ii) complement physical banknotes and (iii) be exchangeable with cash and bank deposits. No decision has yet been made on whether a digital pound will come to fruition.

Jun 25, 2024 | lexology.com | Richard Ellis

Many businesses allow their customers to purchase goods or services on credit. While this often makes sense commercially, the regulatory implications of doing so are sometimes overlooked. It is very easy for non-financial services businesses to find that they are inadvertently carrying out a credit-related regulated financial service or activity. The consequences of doing so can be serious.

Jun 9, 2024 | lexology.com | Richard Ellis

The 31 July 2024 deadline for firms to prepare and approve their first Consumer Duty board reports is fast approaching. Firms which are subject to the Consumer Duty but which have yet to complete this process should turn their attention to it now. What is consumer duty? The Consumer Duty is a flagship initiative for the Financial Conduct Authority (FCA). Introduced on 31 July 2023 and set out in Principle 12, the Consumer Duty requires firms to “act to deliver good outcomes for retail customers”.

Mar 30, 2015 | mensjournal.com | Richard Ellis