11/29/2019
New EU bill on the fourth Money Laundering Directive allows banks to hold and sell Bitcoin
Banks in the EU get an early Christmas gift as the new law will enable them to buy, hold and sell cryptocurrencies.
Legal, Regulation & Compliance
11/29/2019
Freshfields Head of Tax arrested and jailed as flight risk
The lawyer was Freshfields’ top tax partner until he quit the firm within the last few weeks.
11/29/2019
IDD general good requirements
In order to assist firms, this table includes notes on the application of the FCA Handbook for incoming EEA firms.
11/29/2019
IFRS and updating the Non-Financial Reporting Directive by Steven Maijoor
This will enable investors and other stakeholders to further assess the potential for value creation of issuers.
11/29/2019
EBA publishes guidelines on ICT and security risk management
These Guidelines set out expectations on how all financial institutions should manage internal and external ICT and security risks that they are exposed to.
11/29/2019
Cambodia and Germany sign two cooperative financing agreements
The first 30 million euros concessional loan, which the German side calls the “Reduced Interest Loan,” will be granted through the German Development Bank.
11/28/2019
Nine arrested in Yorkshire over Dubai money-smuggling plot
The organised crime gang is thought to have smuggled millions of pounds out of UK airports, last year.
11/28/2019
US FATCA crackdown pushing demand for tax advice
The FATCA international tax code was designed to stop Americans stashing money abroad to evade tax.
11/28/2019
HMRC could face legal battle with outgoing Rangers chairman
Tax bill for football club’s use of employee benefit trusts might be overestimated by £50m
11/28/2019
Mourant advises on co-living world first
The Collective has announced two London co-living buildings near North Acton and Canary Wharf.
11/28/2019
Robeco to cease investment admin services
Participants invest either through a standard lifecycle in funds selected by their pension scheme, or in individually picked funds through an opt-out offering.
11/28/2019
Council of EU proposes new mechanism for out-of-court enforcement to prevent accumulation of NPLs
The stock of EU's non-performing loans is at its lowest since the financial crisis, thanks to the more favourable economic situation and a number of measures taken to eradicate them from banks' balance sheets.
11/28/2019
STM Warns On Profit Amid Sluggish UK Pension Sector, Carey Issues
In the firm's half year report in September, STM Chief Executive Alan Kentish said he was expecting top line growth and a rise in profit for 2019.
11/28/2019
Former Deutsche Bank Executive Who Oversaw Trump’s Loans Dies by Suicide
Another source who has knowledge of Deutsche Bank’s internal structure said that Bowers would have been the gatekeeper for financial documents for the bank’s wealthiest customers.”
11/28/2019
Former Freshfields lawyer arrested over German tax scam - sources
Johannemann, who resigned from the international law firm this month, has been in custody since Friday because he was deemed a flight risk, the two sources told Reuters.
11/28/2019
Yorgen Fenech’s 61 connected companies under scrutiny
Financial Intelligence Analysis Unit launches hunt for money laundering
11/27/2019
ECB speech on European retail payments market
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Joint Conference of the ECB and the National Bank of Belgium on “Crossing the chasm to the retail payments of tomorrow”
11/27/2019
BCBS and BCG joint statement on proportionality
The Basel Framework envisions a range of approaches, from simpler standardised approaches to advanced approaches.
11/27/2019
FSB publishes updated report on regulatory framework for haircuts on non-centrally cleared SFTs
The framework aims to address financial stability risks associated with SFTs.
11/27/2019
Exclusive: FCA chief rules out ‘best endeavour’ leeway on P2P rules
The FCA on Tuesday announced a ban on mass-marketing of mini-bonds, following the collapse of London Capital & Finance this year that left thousands of everyday investors out of pocket.