03/15/2019
ESMA includes MiFID ii and MiFIR in its interactive single rulebook
Their Lordships explored the scope of the EU and UK obligations in relation to financial services under the WTO Agreement and on free trade agreements.
Legal, Regulation & Compliance
03/15/2019
Freedom of information reform – how could it affect the charity sector?
There are a limited number of charities currently subject to the FOIA legislation.
03/15/2019
Agreement reached on a provisional deal on clearing houses rules
They also take on counterparty risk by stepping in between the seller and the buyer, thereby providing guarantees that the transaction can be completed.
03/15/2019
Court of Justice of EU holds Hungarian exchange-rate risk contract term contrary to EU law
The cancellation of the contract must be possible where it cannot continue to exist without the unfair term
03/15/2019
Clarifications relating to combatting money laundering and terrorist financing - Ogier
This briefing focuses particularly on the anti-money laundering and combating the financing of terrorism (AML/CFT) provisions set out in sub-chapter 5.4 of the Circular.
03/15/2019
UBS Sued by Alleged Rape Victim
She also asserts that she was disadvantaged by disclosing more than she needed to in an investigation into the rape, only to be denied access to an outside law firm's findings on UBS' handling of the matter.
03/15/2019
Implementation of ATAD in Malta by Anjelica Camilleri de Marco
ATAD was enacted to prescribe common standards with a view to coordinating the implementation by EU Member States of the OECD’s BEPS action items, in particular by introducing principle-based rules in relation to interest limitation, controlled fore
03/15/2019
EU Lawmakers Demand Sanctions Against Troika Laundromat Bankers
The signatories stated that the Troika Laundromat, along with previous money laundering scandals, has “revealed the EU’s vulnerability and unpreparedness to fight financial fraud and money laundering”.
03/15/2019
AJ Bell and Hargreaves hail DFM inclusion in exit fee ban
Andy Bell denounces exit fees in other parts of the market as ‘punitive’
03/15/2019
SJP charge under pressure as FCA consults on exit fee ban
The FCA has this morning announced it is consulting on a ban on platform exit fees
03/15/2019
Swiss bank UBS sets aside €450m for French tax case
UBS appealing French court penalty decision to ‘correct the mistakes’ of a prior ruling
03/15/2019
Swedbank Report Showed $10 Billion 'Suspicious' Baltic Payments: Swedish TV
SVT said the report, which Reuters has not seen, showed a large number of suspicious clients had moved 3.2 billion euros ($3.6 billion) and $6.7 billion between the two banks, more than double the number SVT had previously identified.
03/15/2019
Clifford Chance launches SMCR Manager
SMCR Manager is the first product to launch from Clifford Chance Applied Solutions, the home for the firm's expanding range of digital products which launched in July 2018.
03/15/2019
Brooks Macdonald faces £3.4m bill for ex-Arch Cru clients
Arch Cru funds went bust in 2009, leaving 20,000 investors out of pocket.
03/14/2019
Cofunds and Aviva see complaints surge after replatforming
Complaints relating to these businesses made up around 90% of the total number of cases handled by the ombudsman service in this period.
03/14/2019
Spring Statement: UK financial services laws could change
Depending on the nature of the EU withdrawal, he said he would not hesitate to overhaul UK financial services legislation
03/14/2019
Avoiding Loan Charge Tax Is Doomed To Fail, Says HMRC
HMRC is now warning taxpayers expecting a loan charge bill that some advice firms are selling schemes offering ways to avoid paying the tax due.
03/14/2019
FSCS outgoing Chief Executive calls for higher protection limits
Beyond the FSCS and looking at the wider financial services market, Mark will suggest a number of policies to support consumers to make retirement planning decisions.
03/14/2019
Central bank digital currencies could impact payments, monetary policy and financial stability
General purpose central bank digital currencies could revolutionise the way money is provided and the role of central banks in the financial system, but these are uncharted waters, with potential risks.
03/14/2019
French bank faces €1 billion lawsuit over Antisemitism,Smear Campaign
Jacob Agam is originally from Israel. He served in the IDF and carried out diplomatic service on behalf of the State of Israel between 1974 and 1980.