03/25/2022
Deutsche Bank stops accepting rich Russian expatriates as clients
Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict.
Legal, Regulation & Compliance
03/24/2022
Bank to pay damages after ‘inaccurate’ client data sent to US
His personal information was shared to comply with Fatca, despite him not being American
03/24/2022
MALTA: Submitting reports via goAML in line with regulation 15(4) of the PMLFTR
SPs were therefore requested to report a TRN for every pending transaction in addition to the STR/SAR.
03/24/2022
FATF Publication on ML/FT risks arising from Migrant Smuggling & FATF Public Statement on the situation in Ukraine
The FIAU strongly encourages subject persons to consult this publication which is accessible on the FIAU website.
03/24/2022
Supporting consumers through tough times – priorities for credit regulation
Those changes will be having significant effects on firms across consumer credit, and a real impact on consumers, with much more change to come.
03/24/2022
Letter from Sam Woods to Chief Executive Officers of banks and designated investment firms on the treatment of cryptoassets under the current frameworks
Firms should consider whether the standardised approach captures the full counterparty credit risks associated with many cryptoassets.
03/24/2022
Ashurst advises lenders on debt refinancing of Archmore Emerald Italy
The Ashurst team that advised Intesa Sanpaolo and Unicredit, was led by partner Carloandrea Meacci supported by associates Paolo Gallarà, Fabrizio Bergo and Andrea Enni.
03/24/2022
Financial Services and Banking News
The notice also contains guidance to help advertisers understand how to comply.
03/24/2022
Financial Regulation: Daily Update
The FCA has published a notice to FCA regulated firms reminding them of their existing obligations
03/24/2022
BNY Mellon Fund Services fined €10.8m by Central Bank of Ireland
The investigation into BNY DAC found systemic weakness across its entire outsourcing framework.
03/24/2022
Legal differences noted between UK bans on Russian aircraft and vessels
Airport operators are now able to direct pilots in command of Russian aircrafts whether to take off or not or order them not to land.
03/23/2022
FCA: Strong Customer Authentication
Our expectations of firms when implementing Strong Customer Authentication (SCA), including e-commerce and online banking.
03/23/2022
Court rules ‘reasonable endeavours’ requirements do not force companies to avoid sanctions
The High Court of England and Wales ruled the ‘reasonable endeavours’ provision in the force majeure clauses within a contract between a shipping owner
03/23/2022
Herbert Smith Freehills Financial Regulation: Daily Update
The enforcement notice provides guidance to the crypto industry on how to remain compliant; it also warns that the ASA will monitor for compliance and implement sanctions if there is no improvement.
03/23/2022
Financial Services and Banking News
The FOS states that the award limit is the maximum amount it can require a financial services firm to pay when they uphold a complaint.
03/23/2022
Denmark signs extradition treaty with UAE amid Dubai-based Brit tax fraud case
The government has been working for some time to get a general extradition agreement between Denmark and the United Arab Emirates.
03/23/2022
Alisher Usmanov: Russian billionaire's UK homes beyond reach of sanctions after being 'placed in trusts'
"All of (Alisher) Usmanov's properties were settled into the irrevocable trusts long before the sanctions came," a spokesman says.
03/23/2022
Aggregates levy in the UK
Aggregates levy is charged at a flat rate of £2 for every tonne of rock, sand or gravel extracted, and proportionally for any amount under that weight.
03/23/2022
Financial Regulation: Daily Update
In the letter, the CMA highlights the remaining items to be implemented and asks the OBIE to continue to monitor and provide updates on progress.
03/23/2022
Financial Services and Banking News
The EBA found that most competent authorities in its sample were committed to strengthening their approach to AML/CFT supervision, with almost all growing their AML/CFT teams and expecting to further expand them in the future.