02/01/2022
EBA launches AML database
EuReCA will contain information on material weaknesses in individual financial institutions in the EU that competent authorities have identified. C
Legal, Regulation & Compliance
02/01/2022
CMA takes Monzo to task over breach of Retail Banking Market Investigation Order
Banks and building societies are required to publish the MMC every time they publish any charges that could accrue to an account as a result of exceeding, or attempting to exceed, a pre-agreed credit limit.
02/01/2022
FCA removes firms' permissions over unauthorised investment concerns
The watchdog warned those invested in either firm are now at risk of losing all of their money.
02/01/2022
Jersey Resolution Authority goes live
The JRA will set the strategic direction of work on bank resolution, oversee the exercise of its legal duties and obligations, and help raise the international profile of Jersey among international counterparts.
02/01/2022
TBC and Proparco sign a USD 50 million loan agreement to support SMEs in Georgia
This transaction further reinforces partnership between Proparco and TBC Bank.
02/01/2022
Property Litigation Team in Supreme Court for Key Electronic Communications Appeals
This litigation is therefore significant for both landowners who host, or may be required to host, electronic communications apparatus on their land, as well as Operators themselves.
02/01/2022
MiFID - ESMA consults on opinion on the trading venue perimeter
ESMA also reiterates the position it stated in the Final Report that a system that “pre-arranges" transactions for execution on a trading venue is not itself multilateral, now taking the view that the pre-arranging firm acts as 'an extensi
02/01/2022
New standard contracts for transfers of personal data from the UK to be approved
Similarly, the IDTA requires data exporters to undertake a transfer risk assessment to consider the local laws, practices, and risks which might render the protections provided by the IDTA insufficient.
02/01/2022
Advisors Shouldn't Rush To Lower Fees, Janus Henderson Says
In addition to holding fees steady, advisors will need to embrace behavioral finance in order to serve clients well, Sommer said.
01/31/2022
ESAs welcome ESRB Recommendation to create a pan-European systemic cyber incident coordination framework
This will support an effective and coordinated response at EU-level in the event of a major cross-border cyber incident that could have a systemic impact on the Union’s financial sector.
01/31/2022
UK Immigration: new scale up visa launching spring 2022
The new Scale Up visa system aims to encourage innovation by streamlining the process for ‘Scale Up’ businesses to bring those who are “very highly skilled” and “academically elite” to the UK.
01/31/2022
Carey Olsen advises on launch of first Guernsey medicinal cannabis and psychedelics fund
Primarily focused on the European market, Leafy Tunnel has started building a portfolio of companies that it hopes will lead, legitimise and form the future of cannabis and psychedelics in the medical industry.
01/31/2022
New Gender diversity rules for large Dutch companies
Dutch companies will be obliged to report on their progress to the Economic and Social Counsel annually.
01/30/2022
Financial Regulation Update
The letter sets out the FCA's expectations of insurers and insurance intermediaries as part of the wider industry, including with regard to consideration of leaseholders.
01/30/2022
ESMA Guidance On Funds' Marketing Communications
Guidelines aim at aligning the marketing communications regime applicable to Managers with the regime currently applicable to MiFID
01/28/2022
Financial Regulation: Daily Update
In particular, the FCA plans to broaden its engagement with solo regulated firms to support them in engaging with the transformation programme.
01/28/2022
‘Real risk’ of reputational damage to retailers amid fashion industry ‘greenwashing’ probe
It comes after the watchdog announced a crackdown on retail fashion firms that make misleading claims about their environmental credentials, known as ‘greenwashing’, and warned that brands could face enforcement action if they are found to hav
01/28/2022
UK Home Purchases for US Individuals
The examples below highlight why US persons should always take US tax advice before buying property in the UK.
01/28/2022
FCA regulation around high-risk investments to be stiffened
On the ‘consumer journey’ plans, the FCA wants to bolster risk warning requirements and ban inducements to invest in high-risk investments.
01/28/2022
Pinsent Masons works on pivotal project to help protect cash services
Under the new model, any community that faces the closure of a core cash service, such as a bank branch or ATM, will have its needs independently assessed by LINK.