03/19/2019
For HSBC, Questions Remain Following Moldovan Asset Seizures
By the time the National Crime Agency (NCA) seized young Luca’s funds, his father was nearly two years into a 9-year prison sentence for the so-called “theft of the century”
Legal, Regulation & Compliance
03/19/2019
Cross-Border Distribution of Collective Investment Schemes
Agreement on the Compromise Texts of the Proposed Directive and Regulation
03/19/2019
Global collaboration on Panama Papers delivered higher rate of reform
Major outcomes continue to unfold nearly three years on from the global investigation known as the ‘Panama Papers’, first unveiled in 2016
03/19/2019
Investors In 19 Countries Sue Danske Bank Over Money-Laundering Scandal
The lawsuit alleges that Danske knew about the problem since 2013, but failed to take any action, deciding instead to continue to keep the issue covered up.
03/19/2019
Shadow cast over Lloyds Bank's new wealth venture as tribunal rules it was wrong to axe £100billion investment contract with Standard Life Aberdeen
Much of the £100billion was set to be given to this new joint venture
03/19/2019
Private Label to help with high value cases
This got some traction, but we felt there was potential to do more with the brand and so held a number of focus groups with brokers to see what they needed.
03/18/2019
Citizenship for Sale - Could Croatia Reward Wealthy Investors?
On the World Passport Index, the Republic of Croatia holds a high ranking of sixteen because the owners of its travel documents enjoy visa-free travel to 169 countries across the world.
03/18/2019
EU to probe where retail investors are getting a fair deal
Commission is concerned that so few Europeans invest in capital markets
03/18/2019
Dechert lawyers embrace denim with new relaxed dress code
Dress-down every day
03/18/2019
Retired IFA who duped victim out of £50K jailed
Ms Chiswell, who was aged 88 and a double amputee, passed away before the Crown Prosecution Service decided to charge Price.
03/18/2019
UK bankers on standby as City readies no-deal contingency plans
JP Morgan, Goldman Sachs and others poised to move staff to EU offices by 29 March
03/17/2019
Appleby shortlisted as International Law Firm of the Year
Appleby has a thriving private client and trusts practice in some of the most well-regulated and highly regarded offshore jurisdictions for the creation and administration of trust structures.
03/17/2019
FCA puts the spotlight on debt management firms
The FCA has commenced supervisory action in these cases and opened an enforcement investigation in one case to date.
03/17/2019
EU Exit: FCA endorses EU credit ratings and ESMA endorses UK credit ratings in case of no-deal Brexit
The FCA can confirm that the EU regime is ‘as stringent as’ the UK’s regime for the purpose of the endorsement requirements.
03/17/2019
EBA notes good progress in convergence of supervisory practices across the EU
The latter is a new consideration given the relatively new entry into force of the Bank Recovery and Resolution Directive.
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.
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.