09/22/2020
ING bank worked for russian money laundering network
ING’s Polish subsidiary executed transactions for two Dutch bank clients: Schildershoven Finance BV and Tristane Capital BV.
Legal, Regulation & Compliance
09/22/2020
European Regulators Failed to Spot Suspicious Money Flooding Through Latvia’s Banks
FinCEN’s move to sanction two Latvian banks in 2005 was aimed at ending their use of U.S.-registered shell companies for money laundering.
09/22/2020
Adapting English law for the digital revolution
The work on digital assets will ensure that the law is capable of accommodating electronic documents, cryptoassets and other digital assets in a way which allows the possibilities of technology to flourish.
09/22/2020
Britain Plans Law to Safeguard City of London's Global Standing
The reference to world leading prudential standards will reassure regulators in Britain who have cautioned about being given a formal remit to maintain the competitiveness of London as a global financial centre when writing new rules, fearing it would wea
09/22/2020
Liverpool boutique launches £50m fund backed by Therium Capital Management
Former DLA Piper partners reignite relationship with Therium in latest law firm portfolio deal
09/22/2020
BME partners with CSS to strengthen its regulatory service suite
Financial services clients will benefit from an integrated solution that seamlessly captures, consolidates and reports all data required for compliant transaction reporting.
09/22/2020
Inside scandal-rocked Danske Estonia and the shell-company ‘factories’ that served it
The FinCEN Files reveal how a handful of secretive agencies mass-produce U.K. shell companies owned by criminals and launderers from former Soviet states.
09/21/2020
HSBC fund chief on re-energising a business in the Covid era
Nicolas Moreau faces multiple challenges in transforming the asset manager while the parent bank undertakes restructuring
09/21/2020
UK banks enabled ‘flow of dirty money’, leaked secret files claim
Reports allege that a number of major UK lenders allowed dirty money to flow through their accounts
09/21/2020
Coronavirus: UK firms voluntarily return £215m in furlough cash
At first this was all paid for by the government, but firms are now having to make a contribution to wages as well.
09/21/2020
«FinCEN Files» Leader: Deutsche Bank
According to the report, the $2 trillion of transactions scrutinized represent an extremely minute fraction – just 0.02 percent – of the more than 12 million suspicion activity reports filed by financial institutions with FinCen between 2011 a
09/21/2020
Tens of thousands of British expats in Europe 'will be stripped of their UK bank accounts and credit cards in weeks' after government failed to negotiate post Brexit rules
Lloyds Bank confirmed to The Sunday Times that it will be withdrawing services from Holland, Slovakia, Germany, Ireland, Italy and Portugal - in a move that will affect 13,000 British customers.
09/21/2020
EU seeks new powers to penalise tech giants
Thierry Breton says concerns exist Silicon Valley companies have become ‘too big to care’
09/21/2020
Leaked U.S. government files suggest Deutsche Bank tops list of suspicious transactions
The German bank said in a statement that incidents in the leaked documents “have already been investigated and led to regulatory resolutions.”
09/21/2020
From LIBOR to SONIA: a bridge to the future by Andrew Hauser
We’re here today to talk about what it will take to get your business ready to transition away from LIBOR.
09/21/2020
Fund managers alarmed over EU push to lure London job
Regulatory proposals viewed as fresh attempt to capture more of UK’s £9tn asset management sectors
09/20/2020
Landlords slash rents by up to 20% as tenants quit city centres in pandemic
‘Race to suburbia’ and a lack of foreign students see rental demand plummet in wake of Covid-19
09/20/2020
Natwest mulls Ulster Bank closure despite promise of growth
Natwest is considering exiting the business in the republic but not the north.
09/20/2020
Will the chance to retire in Dubai appeal to British expats?
Arabian Business asks the experts whether the emirate's new retirement visa will be an attractive option for UK citizens
09/20/2020
Gibraltar Updates Distributed Ledger Framework to Align With FATF Crypto Regulations
to curb money laundering in the past, particularly in its DLT rules, describes the update as a “natural evolution of the defined regulatory principles.”