07/27/2020
Germany to toughen financial regulation after Wirecard scandal
BaFin, the financial regulator, is to be equipped with “sovereign powers” to intervene “directly and immediately” in public companies
Legal, Regulation & Compliance
07/27/2020
Carey Olsen advises Willis Pension Scheme trustees on £1 billion longevity risk transfer
The longevity risk has been transferred to the reinsurer via a Guernsey-based captive insurance company fully owned by the trustee of the Scheme, established under Willis Towers Watson Guernsey ICC Limited.
07/26/2020
FCA Handbook Notice No. 79
The FCA has published a template version of a 'Dear CEO' letter sent to firms acting as brokers in wholesale financial markets
07/26/2020
EU General Court rules in state aid cases on Irish transfer pricing rulings
Both Ireland and the taxpayers concerned appealed the decision to the General Court, which has now overturned the European Commission’s decision.
07/24/2020
Maples Funds and Investment Management Update - Ireland and Luxembourg - Q2 2020
Our Funds & Investment Management quarterly update considers recent legal, regulatory and tax developments in Ireland and Luxembourg.
07/24/2020
Germany tightens foreign investment regime due to the EU Screening Regulation
The latest amendments to German foreign trade law underline the general national and European trend to tighten investment control regulations
07/24/2020
Hundreds of CMCs shed FCA permissions
In February, the watchdog revealed it had refused to authorise a CMC amid concerns about how defined benefit file reviews were checked.
07/24/2020
Protecting economic muscle: Finance and the Covid crisis - speech by Alex Brazier
Given as part of the CFO Virtual Agenda
07/24/2020
Facilitation of Cross Border Restructuring - Appleby Global
The severe economic ramifications of Covid-19 are being, and will be, felt across all areas of industry and society for some time to come.
07/24/2020
Trust Registration Service and Fifth Money Laundering Directive… are we nearly there?
Many commentators sought further reassurances regarding access to information held on the TRS.
07/24/2020
FCA portfolio letter to debt advice firms
The letter sets out the FCA's view of the key drivers of harm to consumers and/or markets posed by debt advice firms.
07/24/2020
London Laundromat: Police seize £2 million profits of Italian mafia gang held in British banks
Castaldi and Enzo Ceravolo, a director of the company involved, gave a London address when setting up the business, but it was a forwarding address with no sign of the pair using it to live in.
07/24/2020
Benefits and certainty of Guernsey’s UK and EU access underlined as Brexit talks miss deadline
The island was one of the first jurisdictions to be approved by the European Securities and Markets Authority (ESMA) to provide third-country passporting without conditions.
07/24/2020
Cost of advice to jump as FCA bills rocket
Mr Okusanya said: “Of course, advisers will ultimately pass on the fees to clients, but there’s a limit to that.
07/24/2020
BREAKING: Goldman Sachs settles 1MDB scandal with Malaysia for $3.9bn
As reported, the case relates to bond sales that Goldman Sachs arranged and underwrote for 1MDB, from which the US Justice Department alleges $4.5bn was stolen to which the bank said the charges were "misdirected".
07/23/2020
Appleby Instructed on Monsoon and Accessorize Administrations, Obtaining Recognition of UK Officeholders
Appleby is the only firm which offers restructuring and insolvency capability across all three Crown Dependencies.
07/23/2020
Could ‘game changer’ court ruling see EU scrap Fatca?
Austrian activist’s triumph over Facebook opens door for US expats to continue their legal fights
07/23/2020
Malta looks to launch new corporate services provider framework
While no legislation has been enforced with regards to the updated framework, the MFSA has already laid out some of the changes that it wishes to implement.
07/23/2020
Tavistock pays out £370k on ‘playboy’ adviser claims
Overall, the group’s revenue jumped 5 per cent to £28.8m in the year to March, while its Ebitda rose by nearly a quarter (24 per cent) to £1.8m.
07/23/2020
UK government clarifies anti-money laundering trust registration
White collar crime law expert David Hamilton of Pinsent Masons, the law firm behind Out-Law, said the response would be welcomed by many firms, including insurance and pension providers.