Related insights: Financial Institutions
Regulation of crypto firms: UK takes the next steps
12 Dec 2023
How the UK should regulate activities relating to cryptoassets is a long-running debate. Now, after years of uncertainty and discussion, and a few recent developments, we have a better understanding of what the short-term regulatory future looks like. So where are we now, and where are we going?
Sustainable progress made as Womble Bond Dickinson named in The Legal 500 Green Guide for 2024
01 Dec 2023
International law firm Womble Bond Dickinson (WBD) has been again recognised as a specialist firm in clean and renewable energy projects that’s helping lead the discussion on climate change, governance, and sustainability after being named in The Legal 500's Green Guide for 2024.
Financial crime prevention: boosting protection
15 Nov 2023
Financial crime never stands still. Lawmakers and regulators face a constant battle to protect its victims. Where possible, prevention is of course better than cure. But, where crime has caused loss, it's important to take steps to reimburse those who have suffered.
Much of 2023 has been taken up with two particular initiatives – putting reimbursement of victims of authorised push payment (APP) fraud on a formal and mandatory basis, and putting responsibilities on businesses to take steps to prevent fraud.
In this article, originally written for Compliance Monitor, Emma Radmore, Legal Director at Womble Bond Dickinson looks at what's been going on.
Much of 2023 has been taken up with two particular initiatives – putting reimbursement of victims of authorised push payment (APP) fraud on a formal and mandatory basis, and putting responsibilities on businesses to take steps to prevent fraud.
In this article, originally written for Compliance Monitor, Emma Radmore, Legal Director at Womble Bond Dickinson looks at what's been going on.
Catalysing future growth as Womble Bond Dickinson advises on £100m fundraising for Atom
02 Nov 2023
International law firm Womble Bond Dickinson (WBD) has advised the UK's first app-based bank on a successful fundraise of £100m in new equity capital.
The firm has assisted long-standing client Atom bank on its latest fundraising round, which has seen the bank raise capital from long-term shareholders BBVA, Toscafund, and Infinity Investment Partners in what is believed to be the largest private capital raise by a digital bank in the UK this year.
The firm has assisted long-standing client Atom bank on its latest fundraising round, which has seen the bank raise capital from long-term shareholders BBVA, Toscafund, and Infinity Investment Partners in what is believed to be the largest private capital raise by a digital bank in the UK this year.
Equifax: a lesson in intra group controls
20 Oct 2023
Back in 2017, significant UK customer data that Equifax Ltd held on the servers of its US parent, and for which it acted as a data controller, was compromised in a cybersecurity incident. FCA took the unprecedented step of announcing at the time that it would be carrying out an investigation. Almost exactly six years later, it published its final notice on the matter – imposing a fine of over £11 million.
Womble Bond Dickinson strengthens financial services team with key appointment
06 Oct 2023
International law firm Womble Bond Dickinson (WBD) has strengthened its financial services regulation team with the appointment of partner Michael Lewis who joins the firm's London office.
"Diversity and inclusion are regulatory concerns"
04 Oct 2023
The FCA and PRA consult on measures to boost diversity and inclusion in the financial services sector, with naming and shaming looming into view.
Where next for the Consumer Duty?
04 Oct 2023
Finally, 31 July 2023 arrived and FCA's Consumer Duty rules for current products and services took effect. The Consumer Duty has been a long time in the making, and expectations on firms during the implementation period have been high. Firms have had to do so much in the past year that some may be tempted to take their collective feet off the gas, but there's no time to relax. The next stage has started, which will involve FCA looking at all interactions with retail customers through a Consumer Duty lens. The proof of whether firms have got compliance right will be both in the results of their own monitoring and follow-up actions, and in FCA's messages to the industry generally and to specific firms who catch their attention.
Authorised Push Payment Fraud podcast series: Philipp v Barclays Bank
04 Oct 2023
In our fourth and final episode of our Authorised Push Payment Fraud podcast series, hosts Rashmita Roy Chowdhury and Samantha Bryant discuss the Supreme Court's judgment in the case of Philipp v Barclays Bank, providing some key takeaways and practical tips.
The Financial Services and Markets Bill
04 Jul 2023
The Financial Services and Markets Bill received Royal Assent on 29 June. To see how it progressed through Parliament, please see our FIN. insights below.
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