The Financial Conduct Authority said Thursday that it has censured asset servicing bank Caceis UK, which has agreed to make a £31.7 million ($41.9 million) voluntary payment to compensate clients of the now defunct WealthTek for losses after failing to act on financial crime risk.
The Financial Conduct Authority said Thursday that it has censured asset servicing bank Caceis UK, which has agreed to make a £31.7 million ($41.9 million) voluntary payment to compensate clients of the now defunct WealthTek for losses after failing to act on financial crime risk.
The Bank of England set out proposals Thursday for the next-generation retail payments infrastructure, which would enable artificial intelligence agents to make payments decisions and complete transactions as well as police the system.
A Bank of England official has said that a number of investigation subjects are engaging with the central bank earlier in a "sea change" in how some enforcement cases are being approached.
A payment services company fought to overturn the victory of victims of a £300,000 ($395,815) fraud in London appellate court Thursday, arguing that it should not be required to restore £160,000 to a company's account because it was also a victim of the fraudsters.
The Pensions Regulator said Thursday that managers of workplace retirement savings plans should assess now whether they can comply with new measures due to be introduced in 2026.
The Council of the European Union has finalized its position on reforms designed to make the pan-European personal pension more accessible for savers and remove provisions that have affected wider adoption of the product since it was launched in 2019.
James Neill Pension Plan has penned a "landmark" capital-backed investment deal with Portunes Pension Capital, marking only the second such transaction in Britain's retirement savings market, legal advisers on the deal have said.
The European Union’s recent position paper sent to the European Commission from its six largest economies is a serious political signal that businesses should treat as an indicator that European market regulation is heading toward deeper integration and stronger supervision, says Antonio Lanotte at Futura Law.
