European debt purchase specialist Intrum has announced that it has completed the finalisation of regulatory approvals to finalise the acquisition of Solvia Servicios Inmobiliarios (Solvia) from Banco Sabadell following the initial announcement in December 2018. The agreement means that Intrum will acquire an 80 per cent share in Solvia, whilst Banco Sabadell, one of the…

The Financial Conduct Authority (FCA) has published its final instruments and guidance that will apply in the event the UK leaves the EU without a deal or an implementation period. As the UK prepares to leave the EU, the FCA has been working to deliver a transition that is as smooth as possible. The package…

Creditfix has unveiled plans to open a new office in the heart of Toronto, Ontario. Initially, Pearse Flynn, chairman of Creditfix will take responsibility for the Canadian Operation until a local senior team is appointed. A newly-formed team of personal insolvency specialists will arrange Consumer Proposals for householders struggling with debts of up to $250,000…

For the second year in a row, Intrum has announced that it has arranged a hackathon to promote innovations for financial well-being among European consumers. The hackathon will take place in Madrid on April 3-4, 2019. The two day-event will have participants from universities, institutions, start-ups and SMEs. The objective is to identify innovation gaps…

The Prudential Regulation Authority (PRA), and the Financial Conduct Authority (FCA) have signed a memorandum of understanding with the European Banking Authority to share information and co-operate if there is a no-deal Brexit. The template sets out the expectations for supervisory cooperation and information-sharing arrangements between UK and EU/EEA national authorities. Following agreement on the…

With weeks to go until Brexit, the impact the UK’s exit will have on the economy is still unclear for many, yet recent research from Just Group found some British consumers have a sense of optimism about their finances over the next year. Despite declining confidence in the economy and property market, the research reveals…

Mortgage arrears would soar by 30% over the next three years in the event of a no-deal Brexit, according to data modelling by Kensington Mortgages, the specialist mortgage lender. Using its proprietary risk modelling tool, Vector, Kensington’s analysts tested a series of scenarios based on a representative data set of 750,000 loans (with an outstanding…

With established markets in Italy, Spain and Greece still at the at the forefront of investor’s attention for Non-Perfoming Loans (NPL) investment, there is increased appetite to seek out new markets according to a new research report from law firm Ashurst. The report, A Global NPL Perspective, compiled the views of senior executives across the…

As the date of a possible withdrawal from the EU looms, more consumers than last year fear for their financial wellbeing in a post-Brexit world, with worries about a rise in the cost of food topping the list of concerns, according to new figures from YouGov, on behalf of mutual insurer Royal London. Overall, 35…

The Financial Conduct Authority (FCA) has published near-final rules and guidance that will apply in the event the UK leaves the EU without an implementation period. As most of the changes proposed will be made under powers given to the FCA under the EU (Withdrawal) Act, they are subject to approval by the Treasury. As…

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