07/09/2020
Dutch court to question ING and ex-CEO Hamers in money laundering case
But a group of disgruntled investors felt justice had not been served and the court in The Hague had said it would take their demands into consideration.
Legal, Regulation & Compliance
07/09/2020
3 Key Lessons From The FATF’s Report On Its Virtual Asset Review
According to the FATF’s report, 32 jurisdictions that it surveyed have imposed anti-money laundering and countering the financing of terrorism regulation on the virtual asset sector.
07/09/2020
FCA statement on EIOPA guidelines on outsourcing to cloud service providers
We will keep this guidance under review and, where appropriate, consult to update this to ensure it remains consistent with relevant international standards.
07/09/2020
CMA orders insurance provider to fix PPI breaches
The CMA has taken action against Cardif Pinnacle, and written to Nationwide and Lloyds, after they failed to provide accurate annual PPI reminders.
07/09/2020
Covid-19: IFSB statements on implications of Covid-19 on Islamic banking and Islamic capital markets
The IFSB will continue to assess the implications of the pandemic on Islamic banking, Islamic capital markets and Takaful, and will issue further public statements where necessary.
07/09/2020
Covid-19: EIOPA supervisory expectations on product oversight and governance requirements
Insurance manufacturers are asked to identify products whose main features, risk coverage or guarantees have been materially affected by the COVID-19 pandemic.
07/08/2020
Deutsche Bank Fined $150 Million For Relationship With Jeffrey Epstein, Other Lapses
First Enforcement Action by a Regulator Against a Financial Institution for Dealings with Jeffrey Epstein
07/08/2020
12 Month Review of Revised FATF Standards - Virtual Assets and VASPs
The report finds that, overall, both the public and private sectors have made progress in implementing the revised FATF Standards
07/08/2020
Ireland Update: Establishment of Register of Beneficial Ownership of Unit Trusts, ICAVs and Credit Unions
The 2020 Regulations also amend the definition of “beneficial owner” in relation to Unit Trusts including to clarify that there will be a “greater than 25 per cent” threshold when determining whether a unitholder is deemed to be a
07/08/2020
InvestSuite joins Avaloq.one ecosystem
The company provides distinct automated investment products for private banks and wealth managers.
07/08/2020
Supervising the new normal
Blog post by Kerstin af Jochnick, Member of the Supervisory Board of the ECB
07/08/2020
HSBC Glitch Causes Wrong Names On Thousands Of SMB Loans
The bank has been writing to customers who accepted the loans in their own names in order to make changes.
07/08/2020
PRA statement on Libor transition and PRA resolution-related rules
This statement outlines the PRA’s view on the implications of Libor transition for contracts in scope of the Contractual Recognition of Bail-In and Stay in Resolution Parts of the PRA Rulebook.
07/08/2020
Brexit: FCA updates webpage on considerations for UK firms
The following questions may help you decide whether you conduct business in the EEA and if your business might be affected at the end of the transition period.
07/08/2020
Covid-19: FCA updates webpage on BI insurance test case
The FCA was permitted to amend its Particulars of Claim in relation to the prevalence of Covid-19 in the UK.
07/08/2020
Chancellor reveals £9bn furlough 'bonus' scheme
"So today we are introducing a new policy to reward and incentivise employers who successfully bring furloughed staff back - a new job retention bonus.
07/07/2020
Carey Olsen advises Government and Ports of Jersey in relation to Blue Islands £10m loan and based carrier contract
The deal, which has been agreed in order to enable the airline to maintain important air links with regional UK airports and a number of European destinations, will also see Blue Islands move its operating base to Jersey.
07/07/2020
Basel Committee reports on Basel III implementation progress
The progress report sets out the adoption status of Basel III standards for each Committee member jurisdiction as of end-May 2020.
07/07/2020
American collector to sue France over restitution of $1.7m Pissarro painting
Real estate developer Bruce Toll claims compensation after French High court confirms return of Pissarro's Pea Harvest to heirs of collector Simon Bauer
07/07/2020
Former Barclays boss rejects suggestion he 'deceived' board during 2008 financial crisis
But Varley yesterday denied the suggestion he had deceived the Barclays board about an agreement made with the Qataris in June 2008.