09/02/2021
Financial services regulatory update - September 2021
The guide is split into four "levels" of measurement, which organisations can choose to apply based on the maturity of the inclusion measurement processes already in place.
Legal, Regulation & Compliance
09/02/2021
FCA ban on adviser convicted of child grooming upheld by tribunal
The FCA banned Jon Frensham from operating as an adviser in October 2020, more than three years after he was convicted for attempting to meet a child.
09/02/2021
France fines U.S. bank JP Morgan $29.6 mln in tax fraud settlement
The settlement follows a probe opened in 2012.
09/02/2021
Introducing IFD / IFR: A New Prudential Regime for Investment Firms
IFR and IFD entered into force on 25 December 2019.
09/01/2021
Firms reminded about potential financial crime risks linked to Afghanistan
Firms must also comply with their legal obligations under the Proceeds of Crime Act 2002 and the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (‘MLRs’ as amended).
09/01/2021
Pilatus fined record €4.9m for letting millions flow through Malta unchallenged
According to the unit, throughout its operations, the bank had exposed itself and the Maltese jurisdiction to “egregious” money-laundering risks that were not mitigated in any manner.
09/01/2021
DAC Pensions Limited enters liquidation
All consumers should remain alert to the possibility of fraud.
09/01/2021
Financial Regulation: Daily Update
The FCA expects firms to establish and maintain systems and controls to counter the risk they might be used to further financial crime.
09/01/2021
The European Green Deal: When macroeconomics matter
The Green Deal has been created to facilitate this transition, mobilising €1trn over the next decade to tackle climate change.
09/01/2021
Polish banks face risk of more mortgage costs from looming court ruling
The central bank has identified the associated legal risk as a major threat to financial stability.
09/01/2021
English courts confirm extensive remedies available for victims of cryptocurrency fraud
A key part of the legal test as to whether a Bankers Trust order should be made is whether there is a real prospect that the information sought will lead to the location or preservation of those assets.
09/01/2021
IAM obtains Finma licence
While some IAMs have outsourced their compliance, LFA does not view this as the best route.
09/01/2021
Financial Regulation: Daily Update
The PRA has published a letter from Andrew Bailey, Chair of the Prudential Regulation Committee
08/31/2021
Swiss court finds German trader guilty in fraud case
The woman, whose lawyer has already announced the intent to appeal, was found guilty of several offences: multiple document forgery, fraud by trade and mismanagement.
08/31/2021
Cyprus Property developers & banks face legal action
Although the property developers and banks have not been named, an English translation of the list of decisions taken by the CCPS can be found by clicking here.
08/31/2021
Consumer confidence rises but business sentiment slips - Bank of Ireland
It was a mixed picture this month, with consumer confidence rising but business sentiment slipping
08/31/2021
DIFC collaborates with UK on protection of international data transfers
It added that recognition would reinforce data flows between the jurisdictions, help build better trade relationships and promote high standards of accountability and transparency in businesses that deal with DIFC entities.
08/31/2021
UK dividend recovery could be derailed by new pension rules
Payouts had been held, increased or reinstated by 85% of UK companies, with the return of the banking sector to the dividend register in particular driving a big annual bounce.
08/31/2021
E-News from KPMG's EU Tax Centre
In its judgment, the General Court held in favor of the Commission and found that the State Aid scheme is compatible with EU law. For more information, please refer to E-News Issue 126.
08/31/2021
Japan's measures to combat money laundering and terrorist financing
Japan is delivering good results in the collection and use of financial intelligence to investigate and prosecute money laundering and terrorist financing.