04/24/2018
Azeri ruling families linked to secret investments via Maltese bank
President’s children among alleged beneficiaries of multimillion-pound global investments by networks of companies
Legal, Regulation & Compliance
04/24/2018
Appleby slams ‘absurd’ BBC gangster claims
Paradise Papers law firm Appleby has denied claims made by the BBC that Ukrainian gangsters used its offshore schemes to hide their ownership of London property.
04/23/2018
Mifid II forces fund managers into sharp research cuts
European groups rein back on analysis produced by banks and brokers
04/23/2018
Cristiano Ronaldo accused of using offshore firms in Luxembourg and Jersey
There is nothing illegal in using offshore companies, provided tax is paid on income generated. It is not known if the player has done this.
04/23/2018
COLD-CALL CONMEN: €2.5million boiler room fraudsters held
Those placing the calls were given scripted replies to typical questions, giving them the best chance of conning their targets.
04/20/2018
European Parliament adopts 5MLD
With its vote, the Parliament concludes an ambitious round of negotiations initiated two years ago.
04/20/2018
EIOPA’s cooperation platforms prove beneficial in addressing cross-border issues
Benefits of cooperation platforms have been identified for both home and host supervisors. By the close of 2017, nine cooperation platforms were operational.
04/20/2018
European Commission publishes draft regulation on CCP transitional period
The remaining third-country CCPs are still awaiting recognition, which will not be completed by the time the current transitional period ends on 15 June 2018.
04/20/2018
Carey Olsen wins high yield deal of the year at IFLR Europe Awards
The Carey Olsen team was led by partner Ben Morgan, assisted by senior associate Emma Penney.
04/20/2018
Barclays CEO Jes Staley faces fine over whistleblower incident
City watchdogs say he broke rules of conduct in his attempts to identify 2016 whistleblower
04/19/2018
UBS Broaches Swiss Tax Taboo
At present the AEoI standards haven’t affected Swiss domestic bank secrecy – Swiss clients banking in Switzerland.
04/19/2018
New FCA data show 3.76 million complaints about financial services firms
After PPI, the next most complained about products are current accounts, with 509,047 complaints and then credit cards with 314,586 complaints.
04/19/2018
‘Arrogant’ UK financial adviser to the stars jailed for seven years
“Assault by penetration, using controlling and coercive behaviour and putting a person in fear of violence by harassment”
04/18/2018
Austria revives debate on shielding banks from eastern Europe losses
Authorities want local units in Eastern Europe to staunch the flow of losses so that parent banks are shielded
04/18/2018
Taxman says sorry for pensions blunder as HMRC forced to remove relief calculator from its website
Taxpayers can utilise their allowance from each of the previous three tax years in order to earn tax relief.
04/18/2018
Guernsey Financial Services Commission signs MoU with Bank of England
The PRA is a part of the Bank of England and responsible for the prudential regulation and supervision of banks, insurers and major investment firms, regulating some 1,700 financial firms.
04/18/2018
Europe tries to force cloud providers to give up offshore data
Within six hours in "urgent" cases.
04/18/2018
Top firms line up to be recognised for breaking new ground at Legal Week Innovation Awards
The quartet are joined by Macfarlanes, Shoosmiths, Simmons & Simmons and Ward Hadaway, in a category designed to showcase the firms seeking new ways to provide legal services.
04/18/2018
FCA rules trump EU data deletion law
This has led to some concern among advisers that clients could abuse this rule to weaken the adviser’s position before bringing a claim for compensation.
04/17/2018
Falcon Private Bank ordered to pay CHF 1.8 million to Finma
While the court acknowledged Falcon’s severe due diligence violations, the ruling can still be appealed at the Federal Court.