09/10/2021
German finance ministry raided in money laundering probe
Probe puts spotlight on financial crime ahead of elections
Legal, Regulation & Compliance
09/10/2021
New rules for investment firms remuneration policies as of 31 July 2021 in Luxembourg
Specific rules apply in case the investment firm benefits from extraordinary public financial support.
09/10/2021
FCA consults on Handbook and Enforcement Guide changes using new FS Act 2021 cancellation and variation power
The Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have published a joint Dear CEO letter setting out their expectations of firms when undertaking trade finance activity.
09/10/2021
An offshore perspective: The English Commercial Court’s decision in the SKAT “cum-ex” case and Dicey Rule 3
SKAT’s claim failed, at the trial of a preliminary issue, on the grounds that it was offensive to “Dicey Rule 3”, a rule which disallows claims for the enforcement, directly or indirectly, of the penal, revenue and public laws of foreign
09/09/2021
Advancis enters administration
All existing loan agreements remain in place and will not be affected by the proposed administration.
09/09/2021
UK's new Stewardship Code a tough call for many AMs
BlackRock, Aberdeen and Legal & General Investment Management are among those that made it to the list of signatories.
09/09/2021
Clifford Chance advises Cinven
The transaction will position Cinven and True Potential to benefit jointly from a growing market in the UK wealth management and technology sector, and to further develop an industry-leading investment technology platform.
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.
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.