03/06/2018
Fund managers told to ditch abuse-prone companies
Pressure from investors and politicians comes after a wave of misconduct allegations that have toppled senior executives in several industries
Legal, Regulation & Compliance
03/06/2018
Asset managers pay £34m compensation for closet trackers
The Financial Conduct Authority has ordered asset managers to pay investors £34m (€38m, $46.9m) in compensation after overcharging for “closet tracker” funds, in a move described as “hugely positive” for investors.
03/06/2018
FCA places firms in insolvency
Following an urgent application by the Financial Conduct Authority (FCA), the High Court has appointed Messrs Russell Downs, Douglas Nigel Rackham and Dan Yoram Schwarzmann of PricewaterhouseCoopers as joint administrators of BSL and joint special admini
03/06/2018
FCA fines and bans former Deutsche Bank trader
The Financial Conduct Authority has fined Guillaume Adolph £180,000 and banned him from performing any function in relation to any regulated financial activity.
03/06/2018
HMT supervision report 2015-17: Anti-money laundering and counter-terrorist financing
Effective supervision is key to a truly successful risk-based regime that focusses supervisory and law enforcement resources on the highest risk but does not place unnecessary burdens on business.
03/06/2018
ECB opinion on proposal for a regulation on EU macro-prudential oversight of the financial system
On a proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1092/2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board
03/06/2018
FSB: Global Shadow Banking Monitoring Report 2017
Its mandate is set out in the FSB Charter, which governs the policymaking and related activities of the FSB.
03/06/2018
EU to order financial advisers to think green: document
The checklist would be used by regulators to ease capital requirements for banks that make loans to “green” projects, or by the bloc to stamp an EU “label” on climate friendly financial products.
03/06/2018
Basel III monitoring results published by the Basel Committee
Data have been provided for a total of 193 banks, comprising 106 large internationally active banks.
03/06/2018
FCA bans former Co-op Bank boss Paul Flowers from industry
Treasury also launches review into bank’s regulation
03/05/2018
Bank of England push for cryptocurrency regulation will boost crypto market
The deVere CEO goes on to say: “The Bank of England is one of the world’s most influential central banks and, as such, its approach is likely to help shape the policies of others."
03/04/2018
Illegal gambling sees Russian punters pouring over $1 billion per year into offshore shell accounts
Around 70 percent of that is illegal, offshore business.
03/04/2018
Vatican Bank’s Ex-Chief Indicted For Embezzlement And Money Laundering
Vatican prosecutors have indicted Angelo Caloia and his lawyer over embezzlement losses of more than $60 million.
03/02/2018
Carey Olsen and Carey Group advise on LSE listing
Carey Group in Guernsey has been appointed as administrator and company secretary to MPLF. Stifel is the company's broker.
03/02/2018
ECB sets new rules on bank capital and cash
The initiative follows the demise of four euro zone banks in the past year, including Spain’s Banco Popular that found itself out of cash after a run on its deposits.
03/02/2018
Former PwC Partner accused of sexual assault attempts to sue firm for £5 million
At the end of 2017, the corporate world was rocked by allegations of sexual assault and misconduct, with serious accusations being leveled at major senior figures across multiple industries.
03/02/2018
DFM declared insolvent after FCA action
The FCA has also imposed requirements on the firms, with immediate effect, requiring them to cease all regulatory activity and not to dispose of any firm or client assets without the regulator's consent.
03/02/2018
Competition in Financial Services - Carole Begent, BLP
To date the PSR has taken enforcement action in respect of one of the 2015 directions.
03/02/2018
EIOPA Recommends Further Simplifications to the Calculation of Insurers' Capital Requirements
EIOPA advises to further simplify calculations for natural, man-made and health catastrophes, in particular fire risk and mass accident.
03/02/2018
UK regulator declares DFM insolvent
The Financial Conduct Authority has declared discretionary fund management firm Beaufort Securities and its clearing arm, Beaufort Asset Clearing Services, insolvent.