01/06/2022
Financial Regulation Daily Update
The opinion also includes a report on the impact of de-risking on access to financial services, which considers a number of issues in more detail.
Legal, Regulation & Compliance
01/06/2022
Top UK law firm fined record sum for breaching money-laundering rules
Mishcon de Reya agrees to pay fine of £232,500 after investigation by Solicitors Regulation Authority
01/06/2022
Voting rights and the myth of future proofing documentation
This is quite a pivotal shift for the financial markets, but a necessary one, as the inter-bank unsecured lending which used to underpin LIBOR has virtually disappeared, leaving the rate mostly a theoretical exercise and making it unviable on a long-term
01/05/2022
Changes to LIBOR as of end-2021
From today, these 6 LIBOR settings will be calculated in a way that does not rely on submissions from panel banks.
01/05/2022
Financial Regulation: Daily Update
The FCA's statement is intended to give certainty until the date the amendments to the RTS and the Handbook Guidance take effect.
01/05/2022
Bank of England to publish pop-economics book
The book, which will be published on 19 May, is part of the Bank’s work to increase public understanding about the economy and the Bank’s role in it.
01/05/2022
Esma consults on rule changes to accommodate tokenized securities
The agency is consulting on a pilot regime for market infrastructures based on DLT, examining transaction reporting exemptions and ways in which regulators can gain access to information on transactions, financial instruments' reference data and tran
01/05/2022
Swiss Prosecutor Objects to Returning Uzbeki Millions
More than 800 million Swiss francs ($873 million) in the case have been blocked since 2012, mainly at Geneva’s Lombard Odier.
01/05/2022
Mergers - the CMA’s jurisdiction and procedure: CMA2
Guidance for businesses and their advisers on CMA's procedures for operating the merger control regime under the Enterprise Act 2002.
01/05/2022
Financial Service & Banking News
The Commission considers there is a role for natural gas and nuclear as a means to facilitate the transition towards a predominantly renewable-based future.
01/04/2022
European Central Bank's savvy gradualism
Unlike the US Federal Reserve, the European Central Bank (ECB) has no fiscal backstop and must worry about the cohesion of the eurozone, in addition to the risk of inflation. Given these complex policy conditions, ECB president Christine Lagarde's ca
01/04/2022
UK’s Financial Conduct Authority Issues Final Messages on LIBOR
LIBOR is presently based on submissions offered by a panel of banking institutions.
01/04/2022
Greece demands relaxation of EU debt rules
Bloc braces for battle over borrowing limits likely to spark further divisions between north and south
01/04/2022
Foreign takeovers of 'key' UK firms harder as new rules come into force
The National Security and Investment Act is said to be the biggest shake-up of the UK’s national security regime for 20 years
01/03/2022
EU Taxonomy: Commission begins expert consultations on Complementary Delegated Act covering certain nuclear and gas activities
The EU Taxonomy guides and mobilises private investment in activities that are needed to achieve climate neutrality in the next 30 years.
01/03/2022
Walkers London acts on Argo Real Estate Acquisition
Walkers worked alongside Herbert Smith Freehills LLP and Simpson Thacher & Bartlett LLP on the transaction.
01/03/2022
Russia seeks information on missing ‘bank fraud’ funds from US correspondent banks
The three New York banks are believed to have functioned as correspondent banks “for some of the Ananyev brothers’ fraudulent transfers”
01/03/2022
Valencia police arrest one of Europe’s biggest cryptocurrency fraudsters
Valencia Guardia Civil arrest one of Europe’s biggest fraudsters of fake cryptocurrency investments
01/03/2022
Danske Bank rebuilds compliance program after money-laundering
Despite its reputation as a squeaky-clean bastion of social democracy, the revelations about Danske Bank’s Estonia unit came to reveal deep flaws in the compliance systems of some of the region’s other leading banks.
12/30/2021
Update for firms on PRIIPs RTS Article 18 and related rules
This extension means that UCITS funds offered to UK retail investors can continue to supply either a PRIIPs key information document or a UCITS key investor information document.