April 2018 - Financial Services Institutions Briefing
Welcome to the latest edition of our Financial Services Institutions Briefing.
As we entered the new calendar year the regulatory environment has been challenging if varied. Many of our clients are bedding down MiFID II reforms, and adapting to the PRIIPs (packaged retail investment and insurance based products) regime. Project teams are also coping with the extensive legal and procedural changes brought in by the General Data Protection Regulation. With the UK plans for the post Brexit financial sector up in the air interesting times lie ahead!
We hope you find this edition interesting and useful. If you have any comments on the briefing or ideas for future topics just let me know.
Access to the Financial Ombudsman Service for SMEs?
Financial services companies may face more disputes with SMEs. In consultation paper CP18/3, published on 22 January 2018, the FCA has proposed to extend access to the Financial Services Ombudsman to small businesses, charities and trusts that meet certain thresholds.
Gender Pay Gap Reporting ("GPGR") 2018
All employers with 250+ employees have to report the relevant information relating to their gender pay gap. A week before the deadline (4 April 2018) only 6,045 employers out of a suspected 9,000 had reported. Most relevant employers have now reported, but it is clear most were leaving it close to the deadline. Within the Financial Services (“FS”) sector 264 employers have so far reported.
The blockchain, the future of Financial Services… or is it?
Blockchain technology, and Bitcoin in particular, was the hot topic in Financial Services in 2017. However, putting the “Bitcoin hype” aside, the underlying blockchain technology appears to have been met with public scepticism amongst some conventional financial institutions.
Non-doms: an update for the dazed and confused
In his Budget speech in July 2015 the then-Chancellor George Osborne announced far-reaching tax changes in relation to foreign domiciliaries, including what he called the abolition of permanent non-dom status. The period of nearly three years since that announcement has been unsettling for non-doms and their advisers alike.
FCA discussion paper on financial services culture
As discussed in a speech on conduct and culture by its Chief Executive Andrew Bailey on 19 March, the UK Financial Conduct Authority (FCA) has issued a new discussion paper on culture within financial services.
For more information please contact Jonathan Bayliss on +44 (0)20 7427 6699 or at firstname.lastname@example.org
Charity Training: Digital Transformation in the Charity Sector
We would be delighted if you could join us for the second session in our new series of bite-size webinars for charities.
Charity Training: Brand Protection
We would be delighted if you could join us for the first in our new series of bite-size webinars for charities.
EWS1 Forms - the latest episode
RICS have now published their highly anticipated guidance on when EWS1 forms will be required.
Guidance where Domestic Abuse alleged
High Court finds former unmarried couple hold weekend home as beneficial joint tenants (despite just one funding the whole £1,550,000 purchase price)
Knight Frank Wealth Report: The Global Perspective on Prime Property & Investment
Knight Frank partners joined Charles Russell Speechlys for a virtual panel-led discussion on the Knight Frank Wealth Report
Case Study: One Blackfriars Limited
An informative and positive judgment for administrators selling high-value property in distressed and complex scenarios.
InvestAfrica: Checking in or Checking out? Financing Africa’s Hotels in 2021
The discussion examined the strategies investors and financial institutions can implement to mitigate the effects of the pandemic.
The rise of cost sanctions in family law proceedings (even against successful parties!)
Sustainable Finance and the end of greenwashing?
Covid throws stark light on need for Lasting Powers of Attorney, as the case of Derek Draper shows
Diversification of landed estates – a trade mark lawyer’s advice...
Mary looks at the diversification of landed estates and offers her expert advice from a trade mark perspective
eprivateclient and Wealth Briefing cover the news of the hire of tax specialist Annika Fünfschilling in Zurich
Annika joined as a Senior Associate in the firm's Zurich office on 15 March 2021.
“Do I have to mediate?”
A trained impartial mediator can work with a divorcing couple if they cannot sort matters themselves.
Charles Russell Speechlys develops Zurich offering with the hire of Annika Fünfschilling
Annika is an attorney-at-law and Swiss certified tax expert, and becomes the first Swiss-qualified lawyer working from the Zurich office.
Doing Business Responsibly: Food & Beverage
A return to growth will be a priority post-pandemic for F&B businesses, and doing business responsibly could help you to achieve it
Property Patter: The Spring 2021 Budget – what news for property?
Join us as we review some of the measures introduced by Rishi Sunak to provide a boost to COVID-hit businesses and workers.
Sophie Dworetzsky quoted in the Financial Times on the increase to corporation tax
Following the Chancellor's Budget this week, Sophie provides her expertise on the rise in corporation tax.
Thomas Moran has been quoted in the Evening Standard on the stamp duty surcharge on foreign homebuyers
Foreign buyers of property worth more than £1.5m will be subject to a 17 per cent tax rate from April 2021.
Property Professionals: Spring Budget Announcement
Join us as we discuss the highlights of the recent budget announcement.