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The role of an AIF depositary

Its main objective is to enhance investor protection by increasing the depositary missions and responsibilities.

Deutsche Bank pays $122.9 million to resolve ‘business development’ FCPA offenses

The DOJ charged Deutsche Bank in federal court in New York with one count of conspiracy to violate the books and records and internal accounting controls provisions of the FCPA.

AJ Bell Removes VAT from MPS and Lines Up New Responsible MPS

VAT is being removed from AJ Bell’s annual management charge of 0.15%

New year, new UK sanctions regime

Businesses which are subject to the new UK regime should therefore ensure that they understand how these sanctions apply to them, and the extent to which they may differ from the previous EU-derived regime.

Covid-19: FCA updates expectations on market trading and reporting

Firms that have concerns about their ability to meet their obligations due to Covid-19 should contact the FCA through their regular supervisory channels as soon as possible.

Business ‘exposed island to risk of financial crime’

The GFSC said it considered Safehaven’s services as ‘inherently high risk’.

U.K. and EU Head for Post-Brexit Battle Over Financial Services as Trading Moves Out of London

Financial services weren’t covered by the post-Brexit trade deal struck just before Christmas between the U.K. and the EU, and U.K.

AUSTRAC reviewing data on Vatican money transfers

The data raised eyebrows in Australia and the Holy See, given the number of transfers and amounts that appeared to be greatly out of line with the Vatican’s financial reality.

European Innovation Council Fund: first equity investments of €178 million in breakthrough innovations

Among them, the French company CorWave is the first EU company in which the EIC Fund is investing.

CP1/21 - Solvency II: Deep, liquid and transparent assessments, and GBP transition to SONIA

The proposals in this CP would result in changes to the PRA Statement of Policy The PRA’s approach to the publication of Solvency II technical information’ (Appendix).

China and EU conclude investment agreement

The agreement will provide a fair market climate for EU investors with clear rules on Chinese State-owned enterprises, transparency in subsidies, prohibition of forced technology transfer and other distortions.

FCA: Updated list of equivalent non-UK regimes in relation to DTRs 4 to 6

BoE and SRB sign co-operation arrangement on cross-border bank resolution

FCA publishes coronavirus financial resilience survey data

The FCA has also been using existing regulatory reporting data, enhanced data purchased from a third-party provider and in-depth analysis of liquidity for a number of the most significant firms.

Lloyds bosses in spotlight over HBOS Reading fraud

Some cases may not be resolved until the end of 2022, more than 15 years after the scam.

CISI extends remote invigilation testing to all global exam candidates

CISI examinations are usually sat by candidates in global exam centres, with multiple choice exams being undertaken at those centres by computer-based testing.

Environmental, Social & Governance Law 2021: Ireland

In the first edition of the International Comparative Legal Guide to Environmental, Social & Governance Law 2021, Peter Stapleton, Ronan Cremin and Jennifer Dobbyn provide a comprehensive insight into ESG law in Ireland.

CP86 2.0 and the Role of the Third Party Management Company

The CBI has indicated that follow ups with firms where shortcomings were identified will be conducted and that industry-wide reviews of CP86 adherence will be ongoing.

EBA to introduce new EU supply chain rules

The EBA’s new framework states that receivables booked on a firm’s balance sheet should be considered technically past due after 30 days.

As rules diverge, Scandinavian banks could pay dividends far higher than ECB cap

The more accommodative approach by Scandinavian regulators will be viewed favorably by equity investors, said Johann Scholtz, a European bank analyst at Morningstar, in an interview.

Ofgem: Direction exempting market participants from obligation to register under REMIT

The Direction applies from 4 January 2021 and until further notice.

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