11/22/2019
Castle Trust warns brokers to beware after fraudsters clone lender
Castle Trust is warning brokers to be extra vigilant after the lender was cloned by fraudsters.
Legal, Regulation & Compliance
11/22/2019
City faces up to ‘dirty money’ through suspicious activity reports
A classic example of this is a modern slavery story that was featured in this month’s edition of SARs in Action, the UKFIU’s e-magazine .
11/22/2019
Walkers' Guernsey Fund Finance Team Advise On £20 Million Facility
Walkers continues to expand its Guernsey investment funds and finance teams
11/22/2019
ICO seeks direct powers under proceeds of crime law
The UK's data protection authority is seeking new powers to prevent criminals from profiting from data-related crime.
11/22/2019
Vatican officials: Swiss bank suspected of money laundering led to Pell conflict
"Sometimes the Church must be able to help without being seen to be helping.”
11/22/2019
WFW associates dismayed by treatment of partner who 'smacked bums' and 'rubbed PAs'
The partner, whom RollOnFriday is not naming and will call 'Frotto', is alleged to have bullied junior male lawyers and been inappropriate with female staff.
11/22/2019
ABN Amro failed to screen 5 million customers after 2010 Fortis merger: report
The Public Prosecution Service is scrutinizing the bank on the suspicion that ABN Amro did not report suspicious transactions on time or at all.
11/22/2019
FCA: firms must work towards 2021 LIBOR transition deadline
The key message from the FCA is that LIBOR transition is as much a governance and compliance issue as it is a legal one.
11/22/2019
CJEU rules German WHT on dividends to nonresident pension funds violates EU law
The fund requested a refund of the 15% tax withheld, but this was refused by the German tax authorities.
11/22/2019
200,000 Brits in for a £3 billion Swiss bank share-out?
The cash is owed by Swiss financial institutions like UBS and Credit Suisse to anyone who invested money through them and did not receive the commission fees paid on the deal.
11/22/2019
Basel Committee publishes more details on global systemically important banks
The final scores are mapped to corresponding buckets, which determine the higher loss absorbency requirement for each G-SIB.
11/22/2019
RPC axes all-equity partnership
We still expect and encourage people to aspire to full equity partnership
11/21/2019
Risky business: UBS warns that tax on billionaires will kill off risk appetite
The proposed wealth taxes have prompted a number of super-wealthy figures including former Goldman Sachs boss Lloyd Blankfein and JP Morgan chief executive Jamie Dimon to publicly express their concerns.
11/21/2019
Fund giant fined £2m for rip-off fees: Henderson accused of overcharging ordinary customers while waiving fees for corporate clients
They continued to be charged an annual fee of between 0.75 per cent and 1.5 per cent – several times what they would have been in a tracker fund
11/21/2019
Swedbank’s High-Risk Russian Secrets
Leaked reports show Russian oligarch Mikhail Abyzov moved a fortune offshore through the Swedish bank.
11/21/2019
ECB report finds eurozone financial stability environment challenging
Meanwhile, targeted macro-prudential policy measures are in place to address vulnerabilities in the banking sector and real estate markets, but the toolkit for non-banks needs to be further developed
11/21/2019
Risks to financial stability are growing thanks to shadow banks and inflated property prices, says European Central Bank
The organisation's latest financial stability report warns that the global economy could falter in the event of a financial shock
11/21/2019
The different UK election outcomes and what they could mean for markets By Rupert Thompson, Kingswood
With the pound and UK equities both still cheap, we no longer believe a sizeable underweight of UK equities is warranted.
11/21/2019
Next steps in transition from LIBOR by Edwin Schooling Latter, FCA
Speech by Edwin Schooling Latter, Director of Markets and Wholesale Policy at the FCA, delivered at the Risk.net LIBOR Summit, 2019.
11/21/2019
PRA statement on delegated regulation changes published by European Commission
These changes relate to the: Standard Formula component loss-absorbing capacity of deferred tax (LACDT); segmentation of non-life insurance and reinsurance obligations