09/14/2021
Notary fined €62,000 for breaching anti-money laundering rules
UBO shortcomings among main reasons FATF greylisted Malta
Legal, Regulation & Compliance
09/14/2021
EIOPA publishes the criteria for the independence of supervisory authorities
The criteria provide clarity for supervisory authorities on EIOPA’s expectations.
09/14/2021
Portugal’s Golden Visa program and the special tax regime for non-habitual residents
For those planning to apply for a Golden Visa, it is important to note that significant changes to eligible investments are being implemented from January 2022
09/14/2021
Financial Regulation: Daily Update
The note sets out the notification requirements for operators of a designated system and the information that the BoE will gather to satisfy the requirements.
09/13/2021
FCA policy development update
Given the importance of robust regulatory returns, the PRA expects all banks, designated investment firms and building societies to consider the findings in the letter and any work they may need to do to remediate applicable issues.
09/13/2021
Maltese trusts – an attractive estate planning tool
Anjelica Camilleri de Marco, Senior Associate in Malta, outlines the adoption of trusts in Malta and examines their tax treatment.
09/13/2021
ESMA guidelines on marketing communications
The guidelines will apply six months after the date of the publication of the guidelines on ESMA’s website in all EU official languages, ie from 2 February 2022.
09/13/2021
The definition of insanity or the ECB’s approach to QE?
But the ECB and other central banks have been all too eager to jump at the chance to deploy these measures since the global financial crisis, and they are utterly convinced of their success.
09/12/2021
Financial Regulation Daily Update
It points to the following as areas that firms should look
09/12/2021
The new EU Commission AML/CFT legislative package revealed
If adopted as such, it will trigger substantial amendments to the current AML/CFT framework.
09/12/2021
UK - Proposals to reform the GDPR are significant but not radical
The key uncertainty is whether it will provoke the EU into revoking its adequacy finding for data transfers to the UK.
09/12/2021
The ultimate punishment – Fines which threaten the viability of a company
The £90 million penalty is more than four times the previous record of £20.3 million imposed on Thames Water in 2017 following environmental breaches.
09/12/2021
Green investments to be part of EU budget rules review
The idea to exempt investments that would help prevent climate change is to support the bloc’s ambition to cut net CO2 emissions to zero by 2050.
09/12/2021
Watchdog hits Grant Thornton with £4m fine over Patisserie Valerie collapse
The Financial Reporting Council’s fine over the auditing of one of Britain’s best-known cafe chains could be announced as soon as this month, Sky News learns.
09/10/2021
CIGA, Brexit and the recognition of Part 26A Restructuring Plans in Guernsey and Jersey
This Walkers’ briefing addresses issues that may be relevant to the recognition of foreign insolvency officeholders
09/10/2021
CP21/28: New cancellation and variation power: Changes to the Handbook and Enforcement Guide
The new power does not apply to firms authorised by the FCA otherwise than under Part 4A, for example as payment service providers or electronic money issuers, and therefore the guidance we are consulting on will not relate to such firms.
09/10/2021
FCA to move faster to remove unused firm permissions
Firms are required to confirm that the information on the FS Register is accurate on an annual basis.
09/10/2021
German finance ministry raided in money laundering probe
Probe puts spotlight on financial crime ahead of elections
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.