03/27/2018
Court orders investment scheme to repay £17m to investors
The decision comes following protracted proceedings, an appeal and an eventual trial which took place over 22 days and concluded in October 2017.
Legal, Regulation & Compliance
03/27/2018
FSCS opens door to Beaufort compensation
Clients of the failed discretionary fund management firm Beaufort Securities and its clearing arm, Beaufort Asset Clearing Services, may be now eligible to claim compensation, after the Financial Services Compensation Scheme declared the two firms in defa
03/27/2018
Watchdog takes action on high-risk investment bets
Esma, along with national regulators, came to the conclusion there was a "significant investor protection concern" to CFDs and binary options being freely available to retail investors.
03/27/2018
Winners of CDLS Excellence Awards 2018 announced
The winners were announced at CDLS's annual dinner on 23 March 2018, which took place at Jesus College in Cambridge and was supported by event sponsors Rathbones and Geodesys.
03/27/2018
How a Tiny Latvian Bank Became a Haven for the World’s Dirty Money
ABLV Bank allowed entities from Russia, Ukraine and North Korea to funnel illicit funds, U.S. officials say.
03/26/2018
Bankers react after call to freeze corrupt Russian funds
NEARLY two per cent of business in Jersey’s finance sector is of Russian origin and could be affected by proposed tough measures against powerful Russians accused of human rights abuses.
03/26/2018
McMafia probe into death of Scottish property tycoon amid fears Russian hitmen threw him out window
Scot Young and four of his rich pals all died between 2010 and 2014 and his ex-wife says his £1billion fortune is at root of his 'murder'.
03/26/2018
Dutch regulator offers escape route from contentious cost rules
Watchdog provides alternative to controversial investor transaction charge disclosures
03/26/2018
Forex fraudster jailed again over Rihanna tickets
A court heard that while on day release Hope opened five new bank accounts which receive more than £75,000 and was mainly withdrawn in cash or used to fund his lifestyle.
03/26/2018
Revolving doors: National firms lead the pack in spate of UK and international hires
Manchester real estate head Peter Kershaw said the appointments displayed a commitment to the real estate market and the growing local market.
03/26/2018
How Pilatus banker Ali Sadr Hasheminejad played hide-and-seek with the Americans
Ali Sadr Hasheminejad regularly travelled to the United States from Malta. But an investigation into the circumvention of Iran sanctions finally caught up with him, less than a year since his private bank was plunged into a national scandal. We trace the
03/26/2018
FCA announces changes to advice on pension transfers
The new rules include requiring transfer advice to be provided as a personal recommendation that takes account of a consumer’s individual circumstances.
03/26/2018
Senior managers fear being left on the hook under new rules
Greater personal accountability may prompt executives to shun financial services roles
03/25/2018
Pilatus: the headache that won’t go away
The timing was inauspicious for a number of reasons.
03/23/2018
Staying afloat in a sea of regulatory change: priorities for 2018 - TMF
A key lesson from CRS early adopters is that FATCA and CRS are still being confused and interpreted as part of the same legislative piece, while they are two different requirements.
03/23/2018
Ukraine's failure to comply with minimum BEPS standard in 2018 threatens with EU sanctions
This means that the Ukrainian business, which is now so painfully winning European markets using the Association Agreement, might find itself in such an uncomfortable situation
03/23/2018
Authorities seize control of bank at center of Malta corruption scandal
Maltese authorities took control of Pilatus Bank that is at the center of a scandal exposed by the murdered journalist Daphne Caruana Galizia
03/23/2018
Theresa May set to ban secretive Scottish shell companies to halt flow of dirty Russian money
The Highland MP said he was very pleased the Conservative Government was at last determined to take measures to stop the flow of dirty Russian money.
03/23/2018
Banking regulation and supervision – you can't have one without the other
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, 9th Annual EFR Stakeholder Round Table on "Financial Fragmentation or Integration", Brussels, 22 March 2018
03/23/2018
Getting Restructuring Recognised in Jersey - Appleby
High street names are in the headlines on an almost daily basis and insolvency practitioners in the UK are increasingly seeing themselves advising or appointed over businesses that span jurisdictions and aren’t just limited to the confines of the UK