12/23/2018
Beneficial ownership register to be made public by 2023
The U.K. chose the year 2023 because it was the date set by a previous government under David Cameron for the worldwide sharing of beneficial ownership information.
Legal, Regulation & Compliance
12/21/2018
Reducing barriers to entry into the UK banking sector
In this paper, we evaluate the impact the 2013 review by the FSA and the Bank of England has had on reducing the barriers to entry for firms entering the UK banking sector, and the benefits it has generated for consumers.
12/21/2018
PRA and FCA joint statement on reporting of private securitisations
This statement sets out how the Prudential Regulation Authority and Financial Conduct Authority propose to direct the manner in which firms must make information regarding ‘private’ securitisations available to their UK competent authorities.
12/21/2018
Statement on treatment of Gibraltar in our Handbook after Brexit
As part of our Brexit preparations, we will make a rule to preserve the existing Handbook treatment in respect of Gibraltar in the post exit day Handbook.
12/21/2018
BOE statement on equivalence of the future UK legal and supervisory framework for CCPs and CSDs
The Bank of England welcomes the adoption today of temporary equivalence decisions by the European Commission on the future UK legal and supervisory framework for CCPs and CSDs.
12/21/2018
ESMA to renew restrictions on CFDs for a further three months
ESMA has carefully considered the need to extend the intervention measure currently in effect.
12/21/2018
UK Government note clarifies “no deal” and data protection
The note confirms that separate draft regulations and more detailed guidance will be published in the next few weeks but, in the meantime, it clarifies at a high level a number of key issues for organisations both within the UK and outside but doing busin
12/21/2018
BNP Paribas Says It Will Lose Access to Some U.S. Pension Assets
Labor Department had granted firm a temporary waiver in May
12/21/2018
Julius Baer sells its domestic business in the Netherlands
In its strategic push to focus on core markets, Julius Baer has agreed to sell its domestic business in the Netherlands to Wealth Management Partners N.V.
12/21/2018
MUFG subsidiary gains investment firm licence in the Netherlands
According to MUFG, the licence is a major step towards ensuring that MUFG will be in a position to continue to provide securities services
12/21/2018
New mandate strengthens Citi’s ties with Aegon
The existing relationship between Citi and Aegon will be widened to cover Kames Capital’s Ireland and Netherlands depositary services, fund ranges and agency securities lending services, as well as a range of other services currently available.
12/20/2018
Diversity in financial services and the challenge to be met by Christopher Woolard, FCA
Speech by Christopher Woolard, Executive Director of Strategy and Competition at the FCA, delivered at Ropemaker Place, London.
12/20/2018
Santander fined £33m for failing to pass on inheritances
The Financial Conduct Authority has fined Santander £32,817,800 for failing to effectively process the accounts and investments of deceased customers.
12/20/2018
ESMA tells firms to provide clients with information on the implications of Brexit test
The statement is addressed to UK firms that provide services in EU27 Member States, as well as EU27 firms that deal with clients based in the UK.
12/20/2018
High Court considers contractual construction of guarantees
The court had no doubt that the demand was not invalid by reason of demanding £500 more than the maximum specified amount.
12/20/2018
Draft EU Exit legislation relating to the financial services framework between the UK and Gibraltar
This publication sets out the proposed amendments to UK legislation related to financial services passporting rights between the UK and Gibraltar, to be laid under the EU (Withdrawal) Act.
12/20/2018
Ukraine's central bank files Swiss court claim against PrivatBank's former owner
It said it had failed to reach an out-of-court agreement with the second wealthiest person in Ukraine, who is being asked to repay 6.64 billion hryvnias
12/20/2018
Reforming Limited Partnership Law: Final Conclusions
The Government is considering the possible transitional arrangements that can apply to existing LPs regarding the rules on PPoB.
12/20/2018
Preparing for the withdrawal of the United Kingdom from the European Union
As was the case for the Withdrawal Agreement, it is essential to continue with a united approach to preparedness and contingency work.
12/20/2018
Police raid Essex properties in £18m pension fraud probe
Raids were carried out at two residential properties and a business address in Essex as part of a joint operation with Essex Police.