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Some firms may be displaying misleading information about the amount of money consumers could obtain when exchanging currency, the UK's Financial Conduct Authority (FCA) has said.
The FCA said it wanted to establish how platforms compete with each other.
Banks and building societies will be obliged to keep a record of the volume of account information services and payment initiation services they provide under new payment services laws..
By Colin Read, Nicholas Bradley, Alexis Roberts
Welcome to Insurance Briefing - a new fortnightly round-up of insurance legal and business developments published on Out-Law - with analysis and commentary from the insurance team at Pinsent Masons.
By David Heffron, Elizabeth Budd, Michael Lewis, Ian Warner
The FCA has published its final policy statement (Policy Statement II) PS 17/14 [03.07.17]. This includes final rules for implementing MiFID II.
The guidance will apply from 13 January 2018, the date on which PSD2 must take effect in national legislation across EU member states.
Members of the House of Lords have criticised the government's decision not to include the proposed ban on cold calling relating to pensions in its Financial Guidance and Claims Bill.
A new consolidated payments infrastructure for the UK is set to come into existence, with the Competition and Markets Authority (CMA) due to approve the plans later this month.
ANALYSIS: New rules are needed in the UK to make it clearer that it is acceptable for banks to verify the identity of new customers using video technology.
The European Commission has been urged to rethink how it plans to ensure that businesses in the payment services market have equal access to the customer account data they need to provide services those customers have requested.
French market regulator Autorité des marchés financiers (AMF) has proposed three changes to European Securities and Markets Authority (ESMA) decision making.
In February, the EBA set out its final proposals on the issue, which included a recommendation to prohibit screen scraping on security grounds.
The introduction of new rules restricting the sale of leveraged trading products to retail investors has been put on hold pending the outcome of an EU review,
By David Heffron, Elizabeth Budd, Michael Lewis, Ian Warner
The FCA's final report on the Asset Management Market Study [28.06.17] contains the FCA's findings, proposed remedies package and next steps.
By Nicholas Bradley, Colin Read, Alexis Roberts
ANALYSIS: The nature and effects of the recent terrorist attacks in London and Manchester are broadening the industry's understanding of terrorism insurance, and could result in a permanent shift...
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