10/22/2020
International Ponzi fraudster jailed over £20m investment scam
The ‘extremely manipulative and dishonest man’ conned victims to ‘fund his own extravagant lifestyle’
Legal, Regulation & Compliance
10/22/2020
FINMA decision in BSI legacy case
This decision follows a ruling by the Federal Administrative Court in December 2019, which had confirmed FINMA’s assessment of the case but had remanded the aspect of the disgorgement amount to FINMA.
10/22/2020
IFAs lack ‘real lobbying group’ to fight ‘scandalous’ fees
Large rises have ‘angered’ advisers who are turning to Treasury Select Committee for help
10/22/2020
Brexit Business Brief | What happens to EU law at the end of the transition period?
At the same moment, the case law of the Court of Justice of the European Union decided before the end of the transition period will acquire broadly the same status as that of the UK Supreme Court.
10/22/2020
FCA: Publication of BI test case High Court declarations and appeal applications to Supreme Court
The FCA and the PRA have published a joint letter to chief executive officers (CEOs) of all PRA-regulated insurance firms on the importance of being prepared for the end of the transition period
10/22/2020
EBRD promotes innovation in green trade finance
This year, the EBRD is joining the contest as a partner for the first time by providing a challenge – to automate the assessment of its green trade finance transactions.
10/22/2020
Step Away From the Regulation: The Solution to Soaring Compliance Costs
These increased demands require firms to devote more resources and budget to compliance, with a substantial impact on their bottom line.
10/22/2020
Govt expands business support and overhauls job scheme
The support scheme will apply to eligible businesses in all tier levels.
10/22/2020
Distressed debt specialist sues hedge fund veteran
IlliquidX has started High Court proceedings against Altana Wealth over alleged breaches of confidence over the Altana Credit Opportunities fund.
10/21/2020
EU to take legal action over Malta and Cyprus golden visas
Maltese prime minister defends programme for its contribution to the country’s economy
10/21/2020
FCA: Occasional paper on understanding consumer financial wellbeing through banking data
The report also finds that data derived from consumers' bank accounts can be used to identify consumers with lower financial wellbeing.
10/21/2020
UK charities and coronavirus: updates to Charity Commission guidance
The guidance also now includes an additional section on the rule of six.
10/21/2020
UK Fundraising Regulator publishes review into charities' compliance with reporting requirements
Many charities are reporting effectively on their fundraising approach, and to a lesser extent on fundraising standards.
10/21/2020
Controversial shell-company ‘factories’ seek a role cleaning up UK’s reputation
It would ‘put the fox in charge of the henhouse’, anti-money-laundering experts warn, after FinCEN Files identified thousands of U.K. shell companies linked to suspicious transactions.
10/21/2020
Germany Issues International Arrest Warrant Against Founders Of Panama Papers Firm: Report
Germany has reportedly issued international arrest warrants against two founders of the offshore law firm which was at the centre of the Panama Papers data leak
10/21/2020
Arrest warrants issued for founders of Panama Papers firm: report
The Panama Papers, a massive data leak in April 2016, exposed widespread tax avoidance and evasion
10/20/2020
How ING bank in Poland helped Russians launder money
Russian money has since the break up of the Soviet Union in 1991 sought safe investment havens in the West such as in Swiss banks, London properties, and French yachts.
10/20/2020
Independent investigation into the failure of London Capital and Finance
This collection brings together details and updates from HM Treasury on the independent investigation into the Financial Conduct Authority’s supervision and regulation of London Capital and Finance, and related matters.
10/20/2020
FCA taken to complaints commissioner over data breach
The FCA admitted the breach in February this year and confirmed it had referred itself to the Information Commissioner’s Office over the incident.
10/20/2020
Isle of Man regulator eyes shift in funding structure
Quilter International chief expects ‘an increase in fees over the next two years to be proposed’