06/30/2021
Portuguese millionaire art collector detained in tax fraud probe
Berardo and his lawyer were not immediately available for comment.
Legal, Regulation & Compliance
06/30/2021
Fraud alert: Impersonation scams continue to soar in 2021
Quilter is warning people to stay alert to the risk of impersonation fraud, and has published a new video on its ‘Stay Safe’ webpage to provide customers, advisers and the wider public with tips on avoiding such scams.
06/30/2021
EU watchdog takes deep dive into banks' use of tech
But the lack of common regulatory standards across EU states for a growing subsector could pose barriers for wider market adoption of RegTech, the EBA said.
06/30/2021
EU watchdog: Insufficient transposition of legislation results in unlevel playing field against money laundering
For a start, the EU should use regulations in preference to directives wherever possible, given the need for legislation to be implemented coherently at member state level, he added.
06/30/2021
EU could be destroyed by national legal challenges, Brussels warns
Justice commissioner Didier Reynders vows to fight attempts to roll back supremacy of EU law
06/30/2021
FCA urges victims of illegal investment scheme to come forward
The court also ordered these amounts be paid as compensation to the victims of the illegal investment scheme.
06/30/2021
Duo of decisions reaffirming the Duomatic principle: A closer look at the Ciban and Satyam cases
The Duomatic principle is a principle derived from English case law whereby a company's shareholders can informally give approval through unanimous consent, rather than abiding by the strict formalities.
06/30/2021
FCA review finds weaknesses in some ‘host’ Authorised Fund Management firms’ governance and operations
The review focussed on host AFMs but some of the findings are also applicable to in-house AFMs.
06/30/2021
CII AGM takes place today as PFS battle rages
Opposition to the deregistration of the PFS has been growing with the campaign group 'Our PFS’ gaining support from many PFS members.
06/30/2021
UK, Singapore Commit to Deepening Regulatory Cooperation
The two countries also announced an MoU to enhance bilateral cyber security cooperation
06/30/2021
Major Law Firms Launch Net Zero Lawyers Alliance to Commit to Accelerating Global Transition to Net Zero
NZLA members commit to ensuring that they engage with their clients’ own transition and decarbonisation objectives.
06/30/2021
FSCS declares 10 financial firms in default
The latest numbers suggest a slight slowing in the number of defaults with 11 firms declared in default in March compared to only 10 in April and May.
06/29/2021
Capital International Bank secured Isle of Man full alternative banking regime licence
It has a quick pre-application process, whereby clients will know within just 200 seconds whether they are eligible for the service or not.
06/29/2021
EU Commission adopts UK Data Adequacy Decisions
By adopting the Adequacy Decisions, the EU Commission has recognised that the UK has fully incorporated the principles, rights and obligations of the GDPR
06/29/2021
Central Bank of Ireland Supervisory Priorities for the Insurance Sector
The CBI's priorities focus on the fundamentals of effective supervision; strengthening regulatory and supervisory frameworks
06/29/2021
High Court Declines to “Cram Down” Shareholders in Proposed Part 26A Restructuring Plan of Oil Company
The decision provides new judicial guidance for determining the boundaries of cross-class cram down tests.
06/29/2021
BIS Annual Economic Report 2021
In the coming year, issues such as corporate insolvencies and capital and labour reallocation will come to the fore.
06/28/2021
Deutsche Bank compensates Spanish winemaker over forex scandal
German lender pays €10m to JGC to settle claims of mis-selling exotic derivatives
06/28/2021
FCA fines Crosfill & Archer Claims Limited £110,000
This fine was for making unsolicited telemarketing calls to people who registered not to receive this type of sales call, where the firm had no evidence they had consented to receive the call or where the firm was unable to confirm what consent had been o
06/28/2021
Celebrating Major Milestones in London and the Channel Islands
Jack Boldarin: London was our first international office outside of the Cayman Islands 20 years ago because we believed then, as we do now, that being a leading player in London is vital to our global client base.