03/21/2019
ESMA publishes no-deal Brexit share trading plans
Applying the same approach as ESMA to the scope of the UK STO would, based on current trading data, mean there would be a large degree of overlap between the UK and EU obligations.
Legal, Regulation & Compliance
03/21/2019
Global banks shrink capital shortfalls under Basel rules
After heavy industry lobbying, those rules were reworked in January
03/21/2019
Fugitive Indian jeweller Nirav Modi arrested in London
The fugitive jeweller, whose elaborate diamond pieces have been worn by stars of Bollywood and Hollywood, was taken into custody in central London on Tuesday after attempting to open a bank account.
03/21/2019
Romanian government plans to lower bank tax after criticism
The tax is progressive, applying to all financial assets if three- and six-month money market rates exceed 2 percent.
03/21/2019
PRA and FCA agree Memorandum of Understanding with EBA
The Prudential Regulation Authority, Financial Conduct Authority and European Banking Authority are announcing today that they have agreed a template Memorandum of Understanding.
03/21/2019
Fund managers turn up heat on UK companies over diversity, pensions, audit
Among the companies making up the IA’s Corporate Governance and Engagement Committee are Britain’s biggest asset manager Legal & General Investment Management, part of insurer Legal & General, and Schroders.
03/21/2019
Liberty confirms new headquarters in Luxembourg ahead of Brexit
The Luxembourg-based company will be led by Dirk Billemon, LMIE’s General Manager.
03/21/2019
Why asset managers may have trimmed more than their waistlines this January
Now that the dust is settling they are in prime position to start making some changes.
03/20/2019
FEIFA reports membership growth of 10% since start of 2019
FEIFA is a non-profit trade association that supports and assists English-speaking advisers and advisory firms across Europe.
03/20/2019
FCA fines UBS AG £27.6 million for transaction reporting failures
UBS AG (UBS) has been fined £27,599,400 by the Financial Conduct Authority (FCA) for failings relating to 135.8 million transaction reports between November 2007 and May 2017.
03/20/2019
FCA statement on share trading obligations
ESMA’s stated goal has been to provide as much certainty as possible and to mitigate potential adverse effects of a trading obligation in these circumstances.
03/20/2019
Jersey substance proposals – the Banking and Finance perspective
Following approval of the Law, further Guidance Notes about the practical implications of the Law are expected shortly.
03/20/2019
Andersen Global Adds Collaborating Firm in Romania
In addition, Ţuca Zbârcea & Asociaţii set up Foreign Desks – China Desk, Israel Desk, Moldovan Desk – to address the growing needs of foreign investors looking to enter the Romanian market.
03/20/2019
Arki Busson’s hedge fund gives up Swiss licence and cuts jobs
LumX had already been slimming down following years of losses
03/20/2019
SimplyBiz launches lasting power of attorney referrals
Traditionally viewed as a later life concern, there is growing awareness that mental and physical incapacity can, sadly, strike at any point of a client's life.
03/20/2019
Fund migration boosts Guernsey’s standing in LSE listings
Carey Olsen advises more LSE-listed clients than any other offshore law firm.
03/20/2019
SimplyBiz to buy fintech platform
Following the acquisition, Defaqto will remain operating as an independent business within the Group out of its offices in Haddenham, Buckinghamshire.
03/20/2019
ING Italy investigated over alleged money laundering - source
Those being investigated by Milan prosecutors were carried out using various online accounts
03/20/2019
MiFID II Research Unbundling: A Survey Yielding Mixed Results
MiFID II required brokers to provide a price for research that was separate from execution services, which in turn would force investment managers to decide whether to pass this cost onto clients or to absorb it.
03/20/2019
How to protect a business from the threat of divorce
This focus on the future will cause many couples to consider their marriage and finally decide there is nothing left to do; all avenues of reconciliation have been exhausted.