03/29/2021
FCA bans IFA convicted of grooming
Given the nature and circumstances of his offence, the FCA considers that Mr Frensham is not a fit and proper person to perform any function in relation to any regulated activity
Legal, Regulation & Compliance
03/29/2021
First Decision of a German Data Protection Authority on Supplementary Measures for International Personal Data Transfers from Europe
A German publishing company based in Munich used the online service "Mailchimp".
03/29/2021
City may never be the same as five-day-a-week commute ends, says former Bank of England deputy
The switch will impact the economy “in ways we don’t fully foresee”, the former deputy governor for monetary policy at the Bank said this morning.
03/28/2021
FCA: Feedback on open finance call for input
It also summarises the industry and HM Government initiatives which have developed since the FCA originally issued its Call for Input.
03/28/2021
Understanding” that will set the conditions for how regulators from the EU and Britain share information.
Britain and the European Union agreed a new post-Brexit financial services pact on Friday that will allow them to co-operate on regulation but does little to improve the City of London’s access to the bloc.
03/28/2021
Ray Dalio: The government ‘outlawing bitcoin is a good probability’
Bitcoin, the largest cryptocurrency in terms of market value, has “proven itself” as its blockchain hasn’t been hacked and it has a large following.
03/26/2021
UK bank fraud hits new record
£479m lost to sophisticated scams exploiting people’s pandemic anxieties
03/26/2021
FINMA publishes 2020 Annual Report
The year 2020 and FINMA’s activities were dominated by the coronavirus pandemic.
03/26/2021
FCA reminds consumers financially impacted by coronavirus of the support available
This means that firms considering or taking repossession action should only do so as a last resort and when all other reasonable attempts to resolve the situation have failed.
03/26/2021
EU directive introducing new reporting requirement for digital platforms adopted
The rules will apply as from 1 January 2023.
03/26/2021
London forex trading boss fined for unauthorised WhatsApp investment advice
A Bow-based investment firm was found to have been giving out unauthorised investment advice via WhatsApp.
03/26/2021
FinServices sector left reeling in wake of high-profile arrests on money laundering charges
Malta’s business community is in turmoil following recent damning developments in the investigation into the assassination of Daphne Caruana Galizia, the outgoing president of the Malta Chamber of Commerce told Business Today
03/26/2021
UK and EU begin diverging on financial regulation after Brexit
Prospects for supervisory ‘equivalence’ fade as each side pursues differing rules
03/26/2021
German Federal Court: German merchants are allowed to surcharge Paypal and Sofort
The issue of whether PayPal and Sofort transactions can, or cannot, be surcharged by German merchants has been controversial for quite some time.
03/26/2021
Germany: MOF publishes updated draft law to implement EU anti-tax avoidance directive
The reform of the CFC rules would follow the March 2020 version of the draft law, including the proposal to leave the current minimum threshold of an effective tax rate of 25%
03/26/2021
Refinements to the proposed UK National Security and Investment regime
The Government published its response to the consultation at the beginning of March 2021
03/26/2021
Climate considerations now fully embedded across UK principal financial regulators
The UK has extended its global leadership on green finance by requiring its principal financial regulators to consider climate change, it was announced today (24 March 2021).
03/26/2021
Climate considerations now fully embedded across UK principal financial regulators
The UK has extended its global leadership on green finance by requiring its principal financial regulators to consider climate change
03/25/2021
Updated statement on non-damage BI settlements and deductions made for government support
How Government support is treated for tax purposes may differ from the way it is treated for calculating the loss under a BI policy.
03/25/2021
Financial Crime and Fraud Regulatory Updates March 2021
This edition focuses on the UK, Germany, Poland, the UAE and Saudi Arabia and is relevant to individuals working in financial services in any of these jurisdictions.