11/24/2021
Financial Regulation: Daily Update
The review will be completed within six months and its findings will be reported to the CMA Board and published.
Legal, Regulation & Compliance
11/24/2021
Financial Services & Banking News
The report covers 112 banks directly supervised by the ECB with €24 trillion of combined assets, and represents a stocktake of European banks’ preparedness to adequately manage and disclose their exposure to C&E risks.
11/24/2021
EU plans to change AIFMD, UCITS and ELTIF regimes
Requiring open-ended AIFs and UCITS ManCos to choose at least one LMT (as described in new Annexes to AIFMD and the UCITS Directive).
11/24/2021
Individual accountability and the key considerations
The Senior Managers and Certification Regime (SMCR) and other comparable regimes across the globe
11/23/2021
Wealth Management: Succession in the form of Trusts
The Trustee is under an obligation, legal and contractual by virtue of the trust deed, to act in the best interests of the beneficiaries.
11/23/2021
Financial Services & Banking News
The Regulation replaces the annexes of Implementing Regulation (EU) 2016/2070 with updated definitions and instructions.
11/23/2021
MCE Insurance Company enters administration
The Gibraltar Financial Services Commission has announced that MCE Insurance Company Limited has entered into administration.
11/23/2021
FCA board needs more directors, review finds
It said: “This is a strong board of individuals who have a clear sense of drive and commitment to deliver on the goals of the FCA.”
11/23/2021
Esma recommends delay to buy-in rules
As the final EC legislative proposal for the review of CSDR, possibly including changes to the buy-in regime, is not expected before the end of this year
11/23/2021
What next for UK gender pay gap reporting?
Breaking down statistics into pay quartiles provides a more nuanced picture of an employer’s pay gap.
11/23/2021
CYPRUS: Latest amendments to Companies Law Cap.113
Section 361A is amended by reference to the Open-Ended Undertakings for Collective Investment Law and/or Alternative Investments Law.
11/23/2021
Walkers' Jersey and Ireland Teams Advise Eagle Street
Lawyers from Walkers' offices in Jersey and Ireland were involved in advising Eagle Street, with Walkers Professional Services (Ireland) providing corporate administration services.
11/23/2021
FSB Statement to Support Preparations for LIBOR Cessation
Active transition of legacy contracts remains the best way for market participants to have control and certainty over their existing arrangements.
11/23/2021
UK IFPR: treatment of credit risk items falling outside of the K-Factors
It is unclear how IFPR firms are meant to address this lacuna.
11/22/2021
Brussels to curb banks’ use of ‘cross-border’ permissions to access EU
Measure in new capital regulations would tighten patchwork of national arrangements and affect banks in London
11/22/2021
HMRC issues scam warning ahead of self assessment deadline
The self assessment deadline is January 31, 2022 and therefore people may expect to hear from HMRC around this time of year.
11/22/2021
Guernsey linked to thousands of UK property ownerships
THE legal ownership of thousands of properties in the UK has been linked to Guernsey by new research.
11/22/2021
EU Move Marks Threat for Swiss Banks
This cross-border crackdown is central to streamlining global banks within the EU, and hands more heft to regulators.
11/21/2021
Advance drafts of legislative package from MiFID II/MiFIR review: What are the key points?
The amendments to MiFIR and MiFID II are the output of the MiFID II review.
11/21/2021
HSF Financial Regulation Update
The FCA has 40 working days in which to examine the applications for registration.