05/26/2021
Ex-Dechert lawyer ‘threw his client under the bus’ to salvage ties with SFO, court hears
Ex-Dechert lawyer turned on client once fees dried up, court told
Legal, Regulation & Compliance
05/26/2021
UK’s Sunak to propose blocking London listings over national security, dirty money concerns
The limits to regulation were laid bare three years ago when the stock exchange listed En+, an energy company associated with the Russian oligarch Oleg Deripaska.
05/26/2021
Petition in Scots court demands inquiry into Donald Trump’s golf ‘wealth’
FORMER US president Donald Trump could yet be facing a Scottish investigation into the source of the wealth that he used to buy his two golf resorts in this country.
05/26/2021
FCA stops EverFX offering CFDs to UK customers
The FCA has stopped ICC Intercertus from conducting any regulated or marketing activities in the UK and has directed it to take all reasonable steps to stop other members of the EverFX Group doing the same.
05/26/2021
Why is the EU Breaking Its Own Treatise by Attacking a Small Pacific Island for not ‘Playing Fair’?
The Financial Action Task Force (FATF), responding to the APG at its February 2016 plenary session in Paris, placed Vanuatu on its dreaded grey list.
05/26/2021
Financial Regulation: Daily Update
The FCA has acted to stop a Cypriot firm and other members of its group from offering high risk contracts for differences (CFDs) to UK customers by issuing a first supervisory notice.
05/25/2021
How to Combat Money Laundering in Europe
Denmark’s financial regulator sees six ways to help banks identify high-risk activity.
05/25/2021
Greensill Takes Another Bank Down
Italy's central bank has ordered the liquidation of Milan bank Aigis Banca
05/25/2021
European Supervisory Authorities Report on the Implementation and Functioning of the Securitisation Regulation
Due Diligence: the Report recommends additional guidance specifying (i) how adequacy and proportionality could be achieved in the context of due-diligence (in particular for STS transactions); and (ii) how investors are expected to perform due-diligence a
05/25/2021
Global merger control: Navigating stormy seas
There have been a number of developments in merger control in 2020 and Q1 2021.
05/25/2021
Esma launches call for evidence on digital finance
Digital transformation and the application of innovative technologies in the EU financial sector bring a host of opportunities, including better financial services to a wider range of businesses and investors, possibly at a lower cost.
05/25/2021
Financial Regulation: Daily Update
HM Treasury (HMT) has published a Joint Statement on the fourth meeting of the U.S.-UK Financial Regulatory Working Group on 20 May 2021.
05/24/2021
UK property boom set to roll on as savings unlocked
House prices rose at the fastest annual rate in nearly 14 years in March, official data showed on Thursday, after a tax cut and a mortgage guarantee scheme for first-time buyers further stoked a sharp surge in activity
05/24/2021
NatWest faces 'significant' damage to reputation as it becomes first bank to appear in court on criminal charges over money laundering, lawyers say
The firm is alleged to have deposited £365million – £264million in cash – in 'increasingly large' sums from November 2011 to October 2016.
05/24/2021
European Commission recommends rejection of UK’s application to accede to 2007 Lugano Convention
The Convention covers jurisdiction, and the recognition and enforcement of judgments in civil and commercial matters, between its contracting states.
05/24/2021
Quilter to pay out after former Caerus AR leaves client's Sipp in cash
The commercial property was owned by Mr L, his business partner and Mr L’s brother.
05/23/2021
Norway Wealth Fund to Oppose Electing Pouyanne as Total Director
The Norwegian wealth fund holds about 2.5% of Total’s stock, making it the fourth-largest shareholder, according to data compiled by Bloomberg.
05/23/2021
UK adopts bespoke global anti-corruption sanctions regime
Readers may remember that the UK's autonomous sanctions regime came into effect at 11 pm on 31 December 2020
05/23/2021
Russian govt gives go-ahead for piling of National Wealth Fund into gold bullion
In the long-term, precious metals are much more sustainable for investments than financial market assets.
05/21/2021
FCA consults on use of new powers to support orderly wind down of critical benchmarks
The FCA has already established its policy framework for how it would exercise its new powers to require continued publication of critical benchmarks