09/24/2019
Apex Group Secures Regulatory Approval for Irish Subsidiary
Through EDB, Apex offers independent banking, depositary and custody services to institutional investors and asset managers for UCITS and alternative investment structures.
Legal, Regulation & Compliance
09/24/2019
Britons hit with record £5.4bn IHT bill
As a minimum, the level of the nil-rate band should be looked at again and increased in line with inflation.
09/23/2019
MFSA-FIAU joint investigation in Pilatus Bank completed and handed to police
Extensive review launched by both the MFSA and the FIAU before the US indictment of Ali Sadr Hasheminejad has been handed to the Maltese police for further investigation
09/23/2019
‘The men who plundered Europe’: bankers on trial for siphoning …60bn
A cum-ex deal, from the Latin meaning with-without, is a complex set of share transactions with the purpose of getting the state to reimburse a tax that was never paid in the first place.
09/22/2019
Ireland - Update – Beneficial Ownership Reporting Commences
The concept of beneficial ownership in the 2019 Regulations remains unchanged
09/22/2019
Boris Johnson wades into beneficial ownership register spat
In a letter to the chief minister of Guernsey
09/20/2019
Updated FSCS and BoE MoU
The Bank of England prudentially regulates and supervises financial services firms through the Prudential Regulation Authority .
09/20/2019
Asset managers wary of potential new regulatory reporting regime
Asset managers express concerns over additional regulatory reporting burdens in addition to current requirements for MiFID II and AIFMD.
09/20/2019
FCA finds research unbundling has saved equity investors £70 million under MiFID II
Industry review from UK regulator finds positive results since MiFID II implementation with no negative impact to research access for small-to-mid caps.
09/20/2019
1.3m UK expats face continued retirement and healthcare uncertainty
It's becoming increasingly obvious that, despite his protestations to the contrary, the Prime Minister simply isn't trying to get a new deal for the UK to leave the EU.
09/20/2019
MEPs call for proper implementation of anti-money laundering rules
MEPs call for better cooperation between the administrative, judicial and law enforcement authorities within the EU
09/20/2019
FCA review on MiFID II research unbundling rules
The FCA will continue to monitor both competition impacts and research coverage of SMEs following the MiFID II reforms
09/20/2019
FCA update to joint statement on opportunistic strategies in the credit derivaties market
These opportunistic strategies include, but are not limited to, what have been referred to as ‘manufactured credit events’ or ‘narrowly tailored credit events’.
09/19/2019
Solvency II: Prudent Person Principle
The proposals are relevant to all UK Solvency II firms (including in the context of provisions relating to Solvency II groups), mutuals, third-country branches, the Society of Lloyd’s (the Society) and its managing agents (collectively, ‘firm
09/19/2019
Latvia’s financial watchdog fines PrivatBank for lax money-laundering controls
The FCMC, which has already twice over the past four years fined PrivatBank for similar reasons
09/19/2019
Baker McKenzie bumps trainee pay by 7% as its confirms autumn retention score
£48,000 in year one, rising to £52,000 in year two
09/19/2019
Contractual Interpretation: Establishing the relevant ‘factual matrix’
Upon discovery of their mistake, Lehman Brothers sought restitution on the grounds that the actual agreement was for 22 notes only and it had inadvertently over-delivered.
09/19/2019
The limits of audit: public perceptions and legal realities
These factors were not identified by Grant Thornton when it conducted its audit.
09/19/2019
Don’t play Midnight Cowboy with a midnight limitation deadline
The underlying proceedings at first instance concerned the calculation of the limitation period for a claim against trustees.
09/19/2019
Apple Can’t Win Its $14 Billion European Tax Battle
Even if the tech giant wins its court appeals, it will have to pay the money—and more—to Washington