09/09/2021
EU supervisors urge implementation of global banking rules
“We, as prudential supervisors and central banks in the EU, very much support a full, timely and consistent implementation of all aspects of this framework,” the signatories said.
Legal, Regulation & Compliance
09/09/2021
Everything You Need to Know About PRIIPs Disclosure Rules
The new PRIIPs disclosure rules, as amended by the FCA, are effective January 1, 2022.
09/09/2021
Ex-adviser jailed after laundering money for organised crime group
The FCA will now pursue confiscation proceedings against him in order to try and seize his illegal gains.
09/09/2021
Regulatory governance in private markets
Private markets have long been considered one of the most complex regulatory areas in financial services
09/09/2021
Financial Regulation: Daily Update
The changes will provide guidance on the new power to cancel or vary the permissions to carry on FCA-regulated activities that are no longer being used by FCA-regulated firms.
09/08/2021
CBC, stakeholders agree on ten steps to speed up banking procedures
The Association of Cyprus Banks (ACB) in a statement issued afterwards said the banks “have listened carefully” to the concerns and thoughts of the economic stakeholders
09/08/2021
No phone zone: mobile phone bans to improve safeguarding and behaviour in UK
Although the majority of schools have policies in place limiting the use of phones in classrooms, rules and sanctions have not always been applied consistently.
09/08/2021
Europe Bank Chiefs Step Up Integration Calls as U.S. Gap Widens
Deutsche Bank’s Sewing slams Europe for keeping banks small
09/08/2021
SEE c-banks urge full implementation of Basel III framework
The output floor should be implemented as agreed in Basel, with all risk-based capital measures and buffers calculated on the basis of one single set of risk-weighted assets.
09/08/2021
A more permissive approach to group litigation?
Several similar so-called mass tort claims have recently come before the UK courts.
09/08/2021
DIFC is a top priority for UK data transfer “adequacy” status
The UK has formally announced that it is assessing the DIFC as a “top priority” for an “adequacy” decision for personal data transfers.
09/08/2021
Financial Services & Banking News
The Parliament will consider the proposed Directive during its plenary session to be held from 18 to 21 October 2021.
09/08/2021
PRIIPs KID – Commission publishes its proposed Level 2 RTS
The European Commission has formally adopted its proposed Level 2 measures regarding the content of the PRIIPs KID along with a delay to their application.
09/08/2021
FCA under fire for providing false information
The firm in question, dubbed Firm X, was an EEA based firm passported in from Germany, which was shown as an active company on the FCA register until January 16, 2020, even though the original company was wound up in 2018.
09/08/2021
Financial Regulation: Daily Update
The update details the FCA's decision to not extend the temporary guidance on maturing interest-only and part-and-part mortgages in PS20/11, which will expire on 31 October 2021.
09/07/2021
ABN Amro to compensate clients for variable interest excesses
This scheme offers a solution for all clients involved.
09/07/2021
Package designed to ensure financial market development and investor protection in the market
Changes regarding the tender offer to subscribe for the sale or exchange of shares in a company
09/07/2021
UBS: Another rumor of sale in Madrid
Because last April the Madrid branch had already been sold to the Fürstenbank LGT or the Swiss-Brazilian private bank J. Safra Sarasin in Spain .
09/07/2021
Disclosure of Beneficial Ownership in 2021 – Luxembourg Perspectives
The Luxembourg Beneficial Ownership regulatory framework has been completed first with the issuance on February 15, 2019
09/07/2021
Financial Regulation: Daily Update
This would mean that short-term liabilities owed to these firms will continue to be exempt from bail-in under the Banking Act.