07/16/2021
Switzerland and Japan sign protocol of amendment to double taxation agreement
It also supplements the provision on the mutual agreement procedure in accordance with the minimum standard and introduces the arbitration procedure.
Legal, Regulation & Compliance
07/16/2021
GFSC updates Guernsey Green Fund rules
GFSC Director General William Mason said: “We were happy to see the Guernsey Green Funds regime working to protect investors from greenwashing and to be able to take on board feedback by liberalising a couple of aspects of the reporting regime to re
07/16/2021
Financial Regulation: Daily Update
The European Securities and Markets Authority (ESMA) has published a consultation paper (CP) on the review of its guidelines on delayed disclosure of inside information under the Market Abuse Regulation
07/16/2021
SAC rules on comparability of Luxembourg SICAVs and Finnish investment funds
The Supreme Administrative Court’s decision thus follows the CJEU’s ruling.
07/16/2021
New standard contractual clauses for transfers of personal data to third countries adopted by the European Commission
For the avoidance of any confusion, it does not discuss the recent adoption of intra-EEA controller to processor standard contractual clauses under Article 28(7) of the GDPR.
07/16/2021
EU consults on new Vertical Agreements Block Exemption regime
The draft new VABER sets out long-awaited amendments to existing EU competition law to bring it up to date with developments in the market, especially in relation to online selling.
07/15/2021
EU guidelines change threatens German companies’ renewables levy exemption
The EEG levy funds the expansion of renewable energies in Germany, but certain companies can be exempted from the levy.
07/15/2021
FCA publishes second letter of concerns in relation to Provident's proposed scheme of arrangement
The FCA’s key concern is that consumers are being offered significantly less than the full amount of redress they are owed.
07/15/2021
Alternative investment fund managers: how to prepare for the new UK prudential regime
Newgate have developed a readiness assessment to undertake a gap analysis of a firm’s systems and controls against the requirements identifying any remediation actions to be undertaken.
07/15/2021
Bank Liabilities Survey - 2021 Q2
This quarterly survey of banks and building societies is aimed at improving our understanding of the role of lenders’ liabilities and capital in driving credit and monetary conditions.
07/15/2021
Tackling the Gender Pay Gap and Pay Transparency in Ireland
The changes will be introduced on a staggered basis, beginning with larger employers.
07/15/2021
Luxembourg Simplifies Legal Framework for Non-Profits
Instead, they must establish a register of members kept by the board of directors.
07/15/2021
Funds & Investment Management Update - Ireland and Luxembourg - Q2 2021
Other notable developments include the CSSF’s updated guidance on granting loans to the public and updates to its UCITS and AIFM FAQs, the publication of a Circular on remote working as well as further EU sustainable finance developments.
07/15/2021
European Commission announces new European green bond standard
The Taxonomy Regulation sets out a classification of economic activities as environmentally sustainable.
07/15/2021
Macfarlanes advises 17Capital on closing of fifth fund at $2.9bn
The firm previously advised 17Capital on its fourth fundraise which closed with commitments over €1.4bn in 2017.
07/14/2021
Crowdfunding service providers excluded from investment services legislation in Cyprus
Legal persons providing crowdfunding services are now expressly excluded from the provisions of the Investment Services and Activities and Regulated Markets Law 2017, as amended.
07/14/2021
Stephen Allen pleads guilty to forgery
At the conclusion of these proceedings, Mr Haddow and others were ordered by the High Court to pay £16.9 million in restitution.
07/14/2021
Joint Bank of England and FCA review of open-ended investment funds
Recognising the global nature of asset management and of key markets, the purpose of this framework is to guide FCA and Bank of England’s engagement with ongoing international work on open-ended funds.
07/14/2021
Malta could take longer to get off the FATF grey list
Leading financial crime expert warns that Malta faces a 'difficult road ahead'
07/14/2021
Business interruption insurance test case – Insurer claims data
The letter also set out our intention to gather information from all affected insurers regularly on the progress of their non-damage BI claims, and to publish some of this data.