Welcome to the April edition of our Banks Briefing, a newsletter produced specifically for lawyers working for banks in the UK.
In this newsletter we cover:-
Barclays becomes first UK bank to receive
ring-fencing approval
A UK High Court judge has given Barclays the go-ahead to complete
the ring-fencing of its retail banking activities into a new
entity.
PCP mis-selling findings remain a risk in light of
FCA report
Risk of a mis-selling scandal around the sale of 'personal
contract purchases' remains following the publication of a
report by the UK's Financial Conduct Authority.
PISPs and AISPs to face complaints-handling
duties
All businesses active in the EU's payment services market
will be subject to complaints-handling duties under plans outlined
by the European Banking Authority.
Fintech sector strategy set out by the UK
government
New standards will be developed to help major banks and insurers to
collaborate with fledgling fintech companies, the UK government has
announced.
Supreme Court: actions in contempt of court can be
'unlawful means'
Multiple breaches of worldwide freezing orders in contempt of court
can form the basis of an action for damages caused by 'unlawful
means' conspiracy, the UK's highest court has confirmed
ICOs not a current risk to financial stability,
says Carney
Initial coin offerings do not pose a current risk to financial
stability, Mark Carney has said in a letter to senior officials at
the world's biggest economies
New figures reveal loss of £236 million
through authorised push payment frauds
Businesses and consumers lost £236 million last year through
authorised push payment frauds, new data has shown.
PSD2: communication standards written into EU
law
Regulatory technical standards on 'strong customer
authentication and common and secure open standards of
communication' for payment services businesses have been
formally written into EU law.
European Investment Bank pushes growth in
financing for tech start-ups
The European Investment Bank has called for the introduction of a
European-wide database to pull together all available information
on financing for technology companies.
Brexit expected to impact on private equity-backed
IPOs
The amount of investment businesses can expect to raise floating on
London stock exchanges
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