10/25/2018
FCA publishes PPI complaints deadline Progress Report
£3.7bn of redress has been paid since the start of the campaign, a 64% increase on the previous 10 months.
Legal, Regulation & Compliance
10/25/2018
Not in my house: Jersey Court refuses to bless a trustee's decision
Update prepared by Christopher Edwards (Partner), Chris Duncan (Senior Associate) and Jeremy Bell-Connell (Associate) of our Guernsey office
10/25/2018
PRIIPs KID Not Fit For Purpose!
Both Mr Ferber and Mr Valiante separately admitted that PRIIPS and, in particular, the KID, were not fit for purpose.
10/25/2018
Fintech development and regulation highly variable across Europe
“Whilst in the majority of surveyed markets, Fintechs have to operate under the same regulatory framework, some countries (e.g. Austria, Italy, Poland) exhibit deficiencies in this regard."
10/25/2018
British finance watchdog to quiz polling firms over hedge fund clients
Parliament’s Treasury Select Committee has expressed concerns that during the Brexit vote in 2016, polling companies provided broadcasters with surveys while at the same time selling data privately to hedge funds which could then trade on the inform
10/24/2018
Taming the wild west: the future of crypto-asset regulation
On 12 September 2018, the House of Commons Treasury Committee (the Committee) published its report on crypto-assets (the report). This followed a digital currencies enquiry it launched in February of this year to examine, among other things, the role of
10/24/2018
UK pension system still lagging on adequacy and sustainability
The report said the UK’s score could be improved by restoring the requirement to take some pension savings as an income stream
10/24/2018
Jersey substance proposals – the fund managers' perspective
The Guidance Notes are expected to confirm that some, but not all, CIGAs must be carried on in Jersey. Consideration will need to be given to ensuring sufficient CIGAs are carried on in Jersey to avoid a letter-box entity characterisation.
10/24/2018
UK’s biggest legal charity cycle race, Tour de Law, returned last week for its seventh year
The event took place all over London in law firm offices and barristers’ chambers as 21 different groups of lawyers raced against each other from London to Paris and back
10/23/2018
Draft Financial Conglomerates and Other Financial Groups (Amendment) (EU Exit) Regulations 2018: explanatory information
FICOD contains certain provisions which give discretions for the FCA and PRA as competent authorities. These will be reflected in the post-exit regime.
10/23/2018
UBS Accuses French Whistle-Blowers of Lying, Blackmail
Executive says whistle-blowing triggered internal probe
10/23/2018
UBS Accuses French Whistle-Blowers of Lying, Blackmail
The testimony came during the third week of a trial over allegations that UBS bankers illegally encouraged French citizens to lower their tax bills by moving money out of the country.
10/23/2018
Advisers warned about Mifid II compliance
The regulator added the requirements applied from 3 January 2018 and do not require disclosure of costs and charges incurred before that date.
10/23/2018
What you need to know about unexplained wealth orders
Learn what is an unexplained wealth order or UWO.
10/23/2018
Where next for the charity sector?
It’s incredible just how entrenched these trends have become, given they were hardly spoken of just a few years ago.
10/22/2018
Green FinTech Challenge
Once the application window has closed we will assess all applications and select a small number of firms that meet the criteria.
10/22/2018
Central Bank Streamlines Procedures for Irish Retail Funds
The welcome procedural amendments, introduced with immediate effect, focus on expediting the processing of certain authorisation and post-authorisation amendments for UCITS and RIAIFs through the introduction of a same-day approval process for those appli
10/22/2018
Russian Billionaire Sues Scandinavian Banks Over Service Agreement Breach
The banks were notified about the lawsuit a week ago and have 30 days to respond after signing a paper which confirms the receipt of notification.
10/22/2018
Commerzbank made a change to its bonuses that should have Deutsche Bankers freaking out
A brief look at today's changes to Commerzbank's bonus scheme could make them sweatier still.
10/22/2018
UBS quizzed about torn bonus notebooks by French prosecutors
De Fayet is on trial in Paris for allegedly helping employees at the Swiss bank, who crossed the border, seek out new French clients despite not having the right paperwork.