02/20/2017
Herbert Smith Freehills - Financial regulation update
FCA agrees redress scheme
Legal, Regulation & Compliance
02/20/2017
The Vatican froze €2 million in funds suspected to be connected with money laundering in 2016
Milano gave no details in his speech but added that the total amount of suspect money frozen between 2013 and 2016 was about 13 million euros.
02/20/2017
UK government to approve controversial Macquarie bid for Green Investment Bank
Macquarie has been prevented from commenting on GIB due to a confidentiality clause but has highlighted its track record as a long-term investor in green energy projects.
02/20/2017
Italy: a new non-dom system for HNWIs
Moving to Italy could be your first step for more efficient wealth management and succession planning.
02/20/2017
State-Owned KfW Could Need Extra Capital
Germany's financial regulator BaFin is likely to push state-owned KfW to set aside more capital due to IT problems.
02/20/2017
Bank of China to pay fine in Italy money-laundering
The Bank of China said the plea deal was aimed at "avoiding a long trial and allowing the Milan branch to concentrate on developing its own business.
02/20/2017
Asset manager Vanguard calls for fund fees health warning
A health warning on the impact of costs would be a clear sign of intent from the industry that it’s putting the needs of the investor first
02/20/2017
Think-tank proposes dual funds regime for post-Brexit UK
The proposed scheme would allow less EU-focused asset managers to avoid some of the burdens of EU regulation.
02/20/2017
MiFID II – New European Regulation To Govern Increasing Demand For Bespoke Investment Strategies
European Capital flows are expected to continue their upward trajectory despite sluggish global growth concerns and the diminishing of monetary easing polices.
02/20/2017
Spain’s Princess Cristina Found Not Guilty In Tax Fraud Case
King’s sister acquitted, but husband Iñaki Urdangarin given six-year jail sentence on charges including fraud and tax evasion
02/20/2017
Asset management study: 5 things OMGI told the FCA
The FCA also stated that investors are not always clear what the objectives of funds are
02/17/2017
Herbert Smith Freehills - Financial regulation update
First application to PSR to vary agreement between PSP and IAP under FSBRA
02/17/2017
UBS France Said to Be Charged With Harassment Amid Tax Probe
The French unit faces allegations that Forissier was forced to work under difficult conditions
02/17/2017
Norway revises rules for dipping into sovereign wealth fund
Jensen said the government had consulted a number of external experts before opting to raise the equity investments to 70 per cent.
02/17/2017
Guidance to Cyprus Investment Firms on communications with clients
It must be provided by authorised and qualified employees of the appropriate department.
02/17/2017
A view from Jersey and Guernsey
As a result, the MLP should simplify local regulatory requirements for structures which choose to be AIFMD complaint.
02/17/2017
MIFID II – product governance provisions
How will the FCA’s proposals for the implementation of the MIFID II provisions on product governance impact manufacturers and distributors?
02/17/2017
HBoS fraud convictions
The HBoS fraud case ended on 2 February with convictions and lengthy sentences being passed on at Southwark Crown Court
02/17/2017
EU parliament’s request for derivatives stress test is a signal that must be heeded
Europe must instead provide a unitary and coherent response to the problem.
02/17/2017
German financial watchdog ups charm offensive to woo firms post
Companies can make use of extensive outsourcing possibilities which fulfil BaFin's supervisory requirements.