07/29/2021
Standard Chartered and Northern Trust Announce Zodia Custody Receives FCA Registration
The registration means that Zodia Custody is now providing commercial services to clients as a cryptoasset business.
Legal, Regulation & Compliance
07/29/2021
ESMA’s report on marketing requirements and communications under the regulation on cross-border distribution of funds
Interestingly, the rules relating to marketing by third country AIFMs and registered AIFMs are also included in some of the responses.
07/29/2021
Sberbank reports 2Q 2021 Net Profit of RUB325.3 bn under International Financial Reporting Standards
"The results of the first half of 2021 reflect the rapid recovery of the Russian economy
07/29/2021
Implementation of Basel standards: Non-performing loan securitisations
The PRA proposes that the implementation date for the changes resulting from this CP would be Saturday 1 January 2022.
07/29/2021
European Commission announces new EU AML Package
Further analysis of the detailed practical changes that are likely to result from these new proposals will follow in due course
07/29/2021
Changes to the FCA’s decision-making procedure
A key part of our Transformation Programme is a fresh approach to tackling firms and individuals who do not meet the required standards.
07/28/2021
The Bank of England’s new resolution publications
The former will be of particular interest to mid-sized firms forecasting total assets in excess of £15bn
07/28/2021
New rules proposed to tackle financial crime in the EU
It has now proposed four specific measures in an ambitious programme of reform
07/28/2021
Does the Brussels I Recast apply to liability claims against arbitrators?
On that basis, it concluded that the French courts had jurisdiction to hear the claim as the seat of the arbitration
07/28/2021
Oxford University alumnus sent back to jail over fake green investment scheme
Together with four others he offered a ‘green' tax efficient investment scheme to wealthy investors to steal millions from them.
07/28/2021
FCA publishes Decision Notice against Markos Markou for lack of oversight
Mr Markou’s conduct placed FSE at risk of being used as a vehicle for financial crime and did not appropriately protect the interests of consumers.
07/28/2021
FCA consults on proposals to boost disclosure of diversity on listed company boards and executive committees
The FCA also encourages companies to provide further data on the result of their diversity policies considering these wider aspects where possible.
07/28/2021
HSBC faces questions over disclosure of alleged money laundering to monitors
Bank was under supervision by US Department of Justice-appointed team because of previous violations
07/27/2021
PS21/9: Implementation of Investment Firms Prudential Regime
Introducing the IFPR means that there will be a single prudential regime for all FCA investment firms, simplifying the current approach for globally active systemically important banks.
07/27/2021
The UK competition and merger control frameworks are set to change
The government is now consulting on its proposals to take forward some of the recommendations raised previously.
07/27/2021
Banks put through commercial property ringer in stress tests
Cantillon: Curbs on shareholder payouts to peter out as EBA scrutiny report looms
07/27/2021
Irish banks praise EU’s anti-money laundering policies
This new AML body would have the authority to prevent any suspicious and non-compliant crypto-based companies from making any transactions anywhere in the EU.
07/27/2021
Dentons Global Advisors Acquires Interel
Extends the Firm’s Geographic Footprint and Public Affairs Capabilities
07/27/2021
Updates to European Facilities Agent Requirements
As a result of the pending regulatory updates, this function can now be performed by a single entity, without the need to appoint multiple agents in each relevant member state.
07/27/2021
Laundering of funds misappropriated from the Russian Treasury: closure of proceedings and partial forfeiture of assets
The forfeiture of a sum equivalent to more than CHF 4 million has, however, been ordered.