05/15/2020
UK regulator warns firms over offline clients
But it will show ‘flexibility’ in how it approaches customer communication during outbreak
Legal, Regulation & Compliance
05/15/2020
Brussels tells UK it must honour EU free-movement rules
Commission launches ‘infringement proceedings’ against Britain that could end up before courts
05/15/2020
Coronavirus latest UK travel guidelines
UK Government guidance issued on 11 May 2020 confirmed that all people entering the UK, including British citizens, will be asked to supply their contact details and details of their accommodation
05/15/2020
ESA Join Consultation Paper On ESG Disclosures
This briefing highlights some key takeaways for asset managers in relation to the Consultation Paper and Draft RTS
05/15/2020
COVID-19: FCA final guidance for insurance and premium finance firms on customers in temporary financial difficulty
The measures require firms to consider what options they can provide to customers
05/15/2020
Former Swedbank Employees Charged With Laundering ‘Large’ Sums
The transactions took place over a “period” and ended in 2017 after Swedbank improved controls, according to the statement. The employees were fired.
05/14/2020
Coronavirus: New UK Charity Commission guidance on managing financial difficulties
The guidance also notes that a charity may receive significantly less money now on the sale of investments and assets as compared to normal times.
05/14/2020
EU eyes extension to cross-border reporting
Member States could have three more months to exchange information
05/14/2020
FCA Statement on how firms should handle post and paper documents
We recognise that during the coronavirus (Covid-19) pandemic there will be some important functions, such as processing post, that will be more difficult for firms to do in a timely way.
05/14/2020
Corporate Crime Update
Our update now covers a number of jurisdictions.
05/14/2020
ESMA highlights challenges for rating CLOs
ESMA expects CRAs to continue to perform regular stress-testing simulations and to provide market participants with granular information on the sensitivity of CLO credit ratings to key economic variables affected by the pandemic.
05/14/2020
European Disharmony
With Boris Johnson unlikely to accept this, a new trade treaty agreed before the December deadline appears ambitious, though is still possible.
05/13/2020
Companies brace for legal battles over unsafe travel for workers
The return to work is fraught with legal risks for employers, lawyers warn
05/13/2020
Financial Regulation: Daily Update
The EBA plans to later carry out a second formal inquiry into the actions taken by financial institutions and NCAs to supervise compliance with the amended requirements.
05/13/2020
Linklaters advises FFA Real Estate on its first transaction in Poland
This is the first transaction of FFA Real Estate in Poland.
05/13/2020
In ‘Cum-Ex’ Crackdown, EBA Tells Supervisors to Look at AML Compliance
EBA will amend its Guidelines on money laundering and terrorist financing
05/13/2020
Dubai businesses ask for more state help to survive coronavirus
Proposals include reduction of utility costs, customs duties and expats’ residency fees
05/12/2020
Financial Regulation Update
The FSB summarises the six themes which emerged as key takeaways from discussions at the workshop: effectiveness; risk alignment; data use; governance; compensation tools; and competition for talent.
05/12/2020
FCA updates coming into force date of guidance for insurance and premium finance firms on customers in temporary financial difficulty
This has now been updated so that, if confirmed, the guidance will come into force on 15 May 2020.
05/12/2020
DAC 6 and CRS extension of reporting deadlines proposals
The proposals are in the form of an amendment to the Directive on Administrative Co-operation and so will need EU Council approval. This is likely to be forthcoming notwithstanding that certain member states were asking for longer extensions.