05/20/2022
An EU retail passport for alternative funds?
It is possible that AIFMD negotiations will conclude before the end of 2022.
Legal, Regulation & Compliance
05/20/2022
Central clearing: three lessons and a path forward − speech by Christina Segal-Knowles
Given at the European Association of CCP Clearing Houses (EACH), Brussels
05/20/2022
NIS2 moves closer as deal reached on cyber laws
The draft NIS2 included ‘size-cap’ rules that envisaged medium and large entities in the relevant sectors falling automatically within its scope.
05/20/2022
ECB Pressuring Post-Brexit «Empty Shell» Banks
The large migration of bankers and staff that was expected following Brexit didn't materialize, with estimates that around 7,000 people have left, according to the «FT».
05/19/2022
Woodbrook Group gives up Cyprus licence
Company has been dissolved since October 2021
05/19/2022
The issue with providing ‘reverse solicitation’ to EU clients
Regulators across the bloc have started to scrutinise the practice by UK advisers
05/19/2022
Rainbow Saver Anglia Credit Union Limited enters administration
All customers should remain alert to the possibility of fraud.
05/19/2022
FCA to gain new powers to protect UK communities’ access to cash
‘Reasonable’ distance to be laid down on how far to go for bank and building society services
05/19/2022
PwC’s Global Economic Crime and Fraud Survey 2022
Protecting the perimeter: The rise of external fraud
05/19/2022
FCA urges BSPS members to act quickly and complain
The FCA said to call, write to or email the firm and if the individual is not satisfied with the response, it can complain to the Financial Ombudsman Service.
05/18/2022
Real estate in an era of inflation
In a climate of rising inflation, real estate investments can offer attractive returns.
05/18/2022
A 450-Year British School is Dropping Its Brand in China
The latest change is part of broader tightening by Chinese authorities in the education sector.
05/18/2022
EU Considers Blacklisting UAE After ‘Dubai Uncovered’ Leaks
“It is clear that the United Arab Emirates facilitates money laundering at a grand scale. This is highly damaging to the EU and cannot be tolerated.”
05/18/2022
Privy Council decides that banks owe no Quincecare duty to a beneficial owner of monies in an account
It therefore rejected what would have represented a significant extension of the duty which would have required banks to monitor transactions for fraud not only with their customers in mind, but also any beneficial owners.
05/18/2022
Accounting rules prevail following HMRC loss in the Supreme Court
The respondent companies claimed a subsequent deduction from their profits for the purposes of their corporation tax liability.
05/18/2022
ESG Investing – High Court provides welcomed clarity for charity trustees in Butler-Sloss
They wished to exclude investments that are not aligned with the agreement, even if the financial returns may not be maximised as a result.
05/17/2022
European Union: Empowering investors to pursue sustainability goals
Building on the findings of the LFI report relating to the EU, this paper sets out why legal changes are needed to enable mainstream investors to work towards sustainability impact goals.
05/17/2022
New principles for charitable trustees exercising their powers of investment
The case was brought by the trustees of two charities – the Ashden Trust and the Mark Leonard Trust – whose principal purposes are environmental protection and improvement and the relief of poverty.
05/17/2022
EBA publishes final technical standards on crowdfunding service providers
Investors using crowdfunding platforms may be exposed to the risk of having insufficient information, and/or incomplete understanding of the viability of a crowdfunding project or of the due diligence conducted by the crowdfunding service providers.
05/17/2022
US tops financial secrecy ranking as G7 countries upend global progress on transparency
The G7 countries’ undermining of global transparency has further fuelled calls by leading economists for a UN tax convention