06/16/2020
FCA statement on short selling bans and reporting
The Short Selling Regulation (SSR) provides EU regulators and the FCA with the power to apply short or long-term bans on short sales in shares, and certain other financial instruments.
Legal, Regulation & Compliance
06/15/2020
Unpacking UK Tax reliefs – a series
Employees of a qualifying company do not qualify for IR. Directors also do not qualify, unless the director is unremunerated.
06/15/2020
Supervision of costs in UCITS and AIFs
To promote convergence in relation to the supervision of costs in UCITS and AIFs, ESMA has developed criteria to support NCAs
06/15/2020
Why Convicted Ex-UBS Employee May Be a No-Show at Swiss Appeal
Rene S. is appealing the convictions because there was a lack of hard evidence and has always asserted his innocence, said his lawyer Moritz Gall.
06/15/2020
Adviser forms joint venture with spinal cord charity
According to Aspire 16 per cent of people who suffered spinal injuries in 2019 received compensation with amounts ranging from £500,000 to £5m, with the average person paralysed by spinal cord injury aged 55.
06/15/2020
FSCS pays out £5.9m on offshore property advice
The lifeboat scheme has also adapted the way it calculates perceived losses stemming from the investments, valuing many at nil to allow for claims.
06/15/2020
Pension giant and BNP Paribas AM unite for climate lobbying effort
Swedish fund, French investment house and Church of England Pensions Board announce tie-up to develop framework.
06/14/2020
FCA updates webpages on reporting market abuse
Firms and individuals professionally arranging or executing transactions in certain financial instruments, and operators of a trading venue, must report suspicious transactions and orders (STORs) to us without delay.
06/14/2020
EU Commission roadmap on EU standards for green bonds
The Commission will summarise the input received in a synopsis report
06/14/2020
Several arrests made in sweeping police operation linked to Latvia's ABLV Bank
The locations included a credit institution, several companies, as well as suspects' workplaces and homes.
06/14/2020
Walkers Wins Four Finance Dublin Deals of the Year Awards 2020
The annual Awards acknowledge excellence under six broad categories within the financial services sector in Ireland
06/12/2020
FCA final guidance on assessing adequate financial resources
This guidance does not place specific additional requirements on firms because of Covid-19, but the crisis underlines the need for all firms to have adequate resources in place and to assess how those needs may change in the future.
06/12/2020
FCA and ESMA announcements on open access regime for exchange-traded derivatives
ESMA’s statement(link is external) issued today recommends relevant Competent Authorities have regard to the risks raised by COVID-19 in relation to open access for exchange traded derivatives.
06/12/2020
ESMA renews decision requiring net short position holders to report positions of over 0.1%
The EFTA Surveillance Authority, in cooperation with ESMA, adopted a corresponding decision today, also effective as of 17 June, applicable to EEA EFTA States' markets
06/12/2020
ESMA produce cloud outsourcing guidance for investment banks and service providers
Credit institutions are already subject to the EBA's outsourcing guidelines
06/12/2020
US expands digital services tax investigation to cover UK and EU
That has not stopped the UK proceeding with its digital services tax; but then, faced with post-Brexit trade negotiations with the US, the UK was never going to give away a playing card before that process truly gets going.
06/12/2020
Ten day fast track regime boosts Guernsey's appeal to migrating fund managers by Kate Storey
The fast-tracking would apply for either a general partner of a non-Guernsey limited partnership, or a standalone manager wishing to move domicile to Guernsey.
06/12/2020
DAC6 reporting obligation deferred by 6 months
The 3-month deferral for DAC2 initially proposed by the European Commission on 8 May 2020, is maintained.
06/12/2020
Covid-19: Flexibility regarding reporting for banks and financial service providers
It also specifies that the leeway it applies will be closely coordinated with national authorities, the ESAs as well as the European Central Bank.
06/12/2020
FMSB Spotlight Review on nvaigating conduct risks in LIBOR transition
While the LIBOR transition presents market participants with unique challenges, many of the conduct-related risks, and the means of managing them, are not novel.