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,