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Legal, Regulation & Compliance

02/05/2021

EIOPA’s Board of Supervisors agrees on changes to the PRIIPs key information document

In December 2020, the Commission invited the ESAs to submit an RTS to amend the KID within a six week period referring to the need to make urgent amendments to European Commission’s Delegated Regulation (EU) 2017/653.

02/05/2021

CySEC extends the deadline for its Brexit-related Temporary Permissions Regime

Many firms missed the deadline and the extension to the end of February is therefore a welcome development.

02/05/2021

German watchdog orders Goldman Sachs to comply with money laundering rules

People familiar with the matter said that Goldman Sachs had not fully complied with German know-your-customer standards when transferring British customers to Germany.

02/05/2021

EU parliament snubs anti-corruption researchers

A letter sent by the parliament's president at that time claimed itself to be "extremely transparent" and so saw no need to cooperate.

02/05/2021

Differences in rights do not necessarily fracture a class

The scheme provided creditors with four options, each provided a better return than in the event of the Company’s liquidation.

02/05/2021

FCA hit by 80,000 malicious emails every month

This news arrives less than a year after the FCA was criticised for accidentally revealing personal information of about 1,600 people in February 2020.

02/05/2021

Ireland Update: Strategy on Remote Working Strives to Keep Up

The Remote Working Strategy confirms the Government’s intention to legislate for employees to have a right to request remote working.

02/05/2021

FCA report outlines practices firms can consider to reduce failed technology changes

Financial services technology is constantly updated, but when firms implement changes they don’t always go to plan.

02/05/2021

UK directors face new liability demands under major audit reform

Far-reaching overhaul of corporate governance set to be unveiled in long-awaited white paper

02/04/2021

HMRC awards Open Banking contract to Ecospend

Under the new systems, payments will be sent directly from a payer’s bank account, using validated HMRC details to address the problems with fat finger errors.

02/04/2021

Many UK companies report trade hassles from Brexit shift: HSBC

More than a quarter of the companies reporting an impact cited increased time spent on bureaucracy, HSBC said.

02/04/2021

FCA secures interim restitution order against five individuals

The proceedings against the other two defendants continue.

02/04/2021

FCA sets out its approach to international firms

The FCA today published its approach to the authorisation and supervision of international firms.

02/04/2021

Commission disburses €14 billion under SURE to nine Member States

Today's disbursements follow the issuance of the fourth social bond under the EU SURE instrument, which attracted a considerable interest by investors.

02/04/2021

Social network activities and their legal implications in the EU: Defamation and data protection

Moreover, the court held that this particular communication method has the ability to reach an indefinite number of people and regards subjects present on a specific virtual platform for the purpose of constant socialisation.

02/04/2021

Maples Group Supports Major Investment Banks On Landmark Luxembourg Securitisation

The Initial Purchasers purchased notes issued by a Luxembourg special purpose vehicle for the principal amount of US$500 million.

02/04/2021

Leading Guernsey fintech business becomes regulated

The regulation supports The ID Register’s single-sign-off service for investors, funds and service providers alike.

02/04/2021

Bank of England says banks need 6 months for any sub-zero rates

“Nobody should take any signal from this,” Governor Andrew Bailey told a news conference.

02/03/2021

Ecospend secures HMRC’s £3m open banking contract

Winning the government’s largest open banking contract to-date.

02/03/2021

Germany strengthens foreign investment controls

Foreign direct investments in these areas will then have to be notified to the BMWi and may not be conducted until the ministry has finished the review.

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