Welcome to the May edition of our Banks Briefing, a newletter produced specifically for lawyers working for banks in the UK.
Articles sourced from: Out-Law.com
In this newsletter we cover:-
Banks on journey to 'complete digitisation' of legal
functions
Major UK banks have agreed that they are "on a journey to
complete digitisation" of their legal functions, but the most
advanced legal technologies are among the least adopted to-date,
according to research commissioned by international law firm
Pinsent Masons.
EU to harmonise cross-border company move and merger
rules
New rules allowing companies to merge, divide or relocate to other
countries within the EU single market have been proposed by the
European Commission
Cloud compliance uncertainty persist for banks
There remains a lack of clarity in the banking sector over the
steps institutions must take to comply with regulations when
adopting cloud-based services, an expert in financial services and
technology law has said
Change in status for Northern Ireland registered housing
associations
The legal status of registered housing associations in Northern
Ireland has changed this month following the entry into force of
legislation intended to move the legal position for mutual
societies in Northern Ireland closer to that in England and
Wales.
FCA business plan says it will investigate insurance claims
inflation
The FCA has said in its business plan for 2018-19 that it
will focus on regulatory work to prepare for Brexit, meaning that
it has limited resources for new initiatives and projects in the
next year or two.
PPI deadline driving up financial complaints
The 2019 deadline for complaints related to mis-sold payment
protection insurance is driving up the number received by firms,
which have increased to their highest level in more than four
years.
Brexit and cyber-attacks threaten EU financial system, say
regulators
Brexit and cyber-attacks are two of the "key risks to the EU
financial system", the joint committee of the EU supervisory
authorities has said.
Banks encouraged to measure cost of data quality lapses
Banks have been urged to measure the cost of "data quality
lapses" after a survey found that most of the institutions are
unprepared for dealing with inaccurate, corrupted or falsified
data
PSD2: banks must not warn customers against using regulated third
parties
Banks must not warn customers against using regulated third parties
in the payment services market, a UK regulator has said
Tackling the financial services gender pay gap
The gender pay gap at UK financial services firms significantly
exceeds the national average, according to the results of the first
statutory gender pay gap reporting exercise.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances,