07/30/2021
Reforming a Cayman Islands STAR trust: A lesson in obsolescence
The written reasons recently released by the Court
Legal, Regulation & Compliance
07/30/2021
Demystifying VASPs in Crypto Compliance
This definition encompasses a range of crypto businesses, including exchanges, ATM operators, wallet custodians, and hedge funds.
07/29/2021
FCA: Diversity and inclusion on company boards and executive committees
We also want to improve considerations of broader diversity aspects within diversity policies and related disclosures by companies.
07/29/2021
FCA proposing changes to streamline decision-making
This will give greater responsibility for decisions to senior members of FCA staff close to the matters.
07/29/2021
HM Treasury Initiates Post-Brexit Review of the UK’s AML and CTF Regime
The planned amendments to the MLRs 2017 by virtue of the SI are either “time-sensitive” or “relatively minor” and were proposals for change that were already in development.
07/29/2021
Linklaters advises AKKA Technologies on €2 billion combination with Adecco
As a first step, Adecco will acquire the controlling stakes of the Ricci family and CNP.
07/29/2021
Ireland Update – Publication of initial draft legislation on the Individual Accountability Framework
As this bill progresses through the Irish legislative process, we will provide further updates on any developments in relation to this individual accountability framework.
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.
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