Author Archives: ETE

The Joint Board of Appeal (“The Board”) of the European Supervisory Authorities (ESAs) (the EBA, ESMA, EIOPA), unanimously decided that the appeal brought by Euroins Insurance Group AD (“Euroins”) against the European Insurance and Occupational Pensions Authority (EIOPA) is inadmissible. The appeal was brought in relation to the EIOPA Chairperson’s decision not to start an […]

Between April 2015 and November 2019, H2O failed to carry out proper due diligence on investments relating to the Tennor Group of companies owned by Lars Windhorst, or other companies he introduced. The investments were high risk and hard to sell. The FCA also found that H2O did not have adequate policies or procedures or […]

The FCA will increase its floor space by nearly 5,000 square feet of its 6 Queen Street office – an additional 35%. The refurbishment project will begin late summer, and the new space will open in the autumn. Nikhil Rathi, chief executive at the FCA said: ‘We have really benefitted from having a base in […]

The regime, introduced in October 2023, followed detailed consultation and a change in legislation. This review looked at how firms are implementing personalised risk warnings, the 24-hour cooling off period, client categorisation and appropriateness assessments. What our review found We recognise this is the first set of rules for all crypto firms marketing to UK […]

Great Point Investments Limited is a Small Authorised UK Alternative Investment Fund Manager. The Firm provides discretionary and alternative investment fund management services through a range of investee companies operating in the global creative industries sector. The Firm manages the Selective Television Production EIS 6 (the EIS 6 Fund). To explain what this means for […]

London Property Investments (U.K) Limited (LPI) arranged mortgages while NPI Holdings Limited (NPI) bought properties and rented them back to the sellers, both without FCA authorisation. Daniel Stevens, the director of LPI and NPI, and his father, Tony Stevens, were also found liable. In his judgment, Mr Justice Fancourt described these breaches as ‘serious contraventions, […]

Peterson Okoh (of Peckham, London SE15) appeared in Westminster magistrates court on 31 July 2024 for allegedly advising on and arranging mortgages, between January 2018 and December 2023, without being authorised. The Financial Conduct Authority (FCA) also alleges a significant number of mortgage applications advised on and arranged by Mr Okoh contained false information and/or […]

We have amended our rules and guidance to enable dormant investment assets and client money to be available to the Dormant Assets Scheme (DAS). Millions in dormant funds have been unlocked for charities and social enterprises, as new rules set out today facilitate the expansion of the Dormant Assets Scheme. This second phase of the […]

In a landmark case for ASIC, the Federal Court has ordered Mercer Superannuation (Australia) Limited to pay a $11.3 million penalty after it admitted it made misleading statements about the sustainable nature and characteristics of some of its superannuation investment options. ASIC Deputy Chair Sarah Court said, ‘This was ASIC’s first greenwashing case brought before […]

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published the new quarterly liquidity assessment of bonds and the data for the quarterly systematic internaliser calculations for equity, equity-like instruments, bonds and for other non-equity instruments under MiFID II and MiFIR. As indicated in the public statement of […]