12/13/2017
English high court confirms that sharia non compliance will not affect the enforceability of an english law agreement in an islamic finance structure
The claimant has applied to the Court of Appeal for permission to appeal.
Legal, Regulation & Compliance
12/13/2017
Fraudster given 400 extra days in prison
All money recovered from Mr Peters will be used to compensate the victims of his crimes.
12/13/2017
JERSEY: Substantial Comfort for Fund Managers
There are very few other jurisdictions which can compete with that sort of depth and breadth of alternative fund experience and capability.
12/13/2017
PSD2: new security guidelines for businesses in the payments market finalised
Officially the guidelines will apply from 13 January 2018
12/13/2017
ECB to keep oversight of France's Credit Mutuel after court win
Credit Mutuel Arkea said in a statement it contested the interpretation of the European law and it would appeal.
12/12/2017
Tax firm negligent for not warning about risks of avoidance scheme
Barker argued that a reasonably careful firm, with the expertise it claimed to have, should have warned him of the risks associated with the scheme and the chance that his family members would be excluded from the benefits.
12/12/2017
UBS leads MiFID II data blockchain project with five partners
Under the new regulatory framework, every institution is expected to have an individual LEI
12/12/2017
Six guilty in relation to £2.7m boiler room scam: FCA
Due to reporting restrictions the defendants cannot yet be named.
12/12/2017
FCA slammed for failings linked to passporting Cyprus adviser
Townsend also criticised a lack of openness in a decision letter from the FCA
12/12/2017
Herbert Smith Freehills - Financial regulation update
FCA future approach to competition and authorisation
12/12/2017
Russia's Sberbank approves dividend policy up to 2020 -CEO
Russia’s central bank owns 50 percent plus one share in Sberbank and transfers the money it gets from Sberbank dividends to the state budget.
12/12/2017
FCA brings in new rules for banks to help customers to switch
Banks will be obligated for the first time to publish the number of complaints they receive, and other details like how long it takes to reissue debit cards.
12/12/2017
New economic crime centre will tackle money-laundering
Drug and people trafficking to be targeted by £90bn-a-year body
12/11/2017
Ban cold calls now to stop pension scammers
The strongest weapon in the armoury against this is good advice and guidance - people just aren’t taking it.
12/11/2017
Money Laundering – New UK Pension Scheme Trustee Obligations
There is debate in the industry about whether HMRC has correctly interpreted the requirements of the regulations in this respect.
12/11/2017
UK corporate governance code changes to hit dozens of chairmen
Reforms to improve accountability to affect 67 of Britain’s largest listed companies
12/11/2017
EU tax grey list splits Federal Council
The EU’s decision changed “absolutely nothing”, said Maurer, who expected no negative consequences for Switzerland as a financial location.
12/11/2017
UK financial watchdog’s fines increase tenfold
FCA’s fines for year stand at £229.4m compared with £22.2m levied in 2016
12/11/2017
HSBC to Be Released From U.S. Deferred Prosecution Agreement
Controversial deal allowed the bank avoid criminal charges in 2012
12/11/2017
Banks breathe a little sigh of relief as Basel III is completed
It was perhaps the most contentious piece of the Basel III framework, and disagreements over what the output-floor level should be caused a year-long delay to its finalization.