07/13/2021
Banks face potential class action over alleged currencies manipulation
London courts consider £1bn lawsuit and another case related to foreign exchange trading
Legal, Regulation & Compliance
07/13/2021
UK government announces further anti-pension scams plans
The government agreed with the committee that there should be more focus on the issue of ‘secondary scammers’
07/13/2021
UK court backs rights holder in ‘essential’ patent dispute
The law in respect of the doctrine of equivalents is evolving, and the courts have not yet had the opportunity to fully consider if, or how, it applies to the validity of a patent.
07/13/2021
FCA issues warning to banks over financial crime systems and controls
White collar and tax fraud expert Andrew Sackey of Pinsent Masons said the letter reflected the view of the FCA and other law enforcement authorities that private enterprises are the first line of defence against money laundering, and that porous or inade
07/13/2021
Met Police seize record £180m of cryptocurrency in London
The seizure is the largest of its kind in the UK
07/13/2021
Regulator slaps Luxembourg bank with six-figure fine
On-site inspection showed RBC Investor Services Bank in Luxembourg did not comply with anti-money laundering laws, regulator said
07/13/2021
Is a Wave of Bankruptcies About to Hit the Global Banking System?
The pandemic has seen companies take on considerable debt to survive the long and frequent periods of lockdown that often led to dramatic slowdowns in sales.
07/13/2021
Bank of England removes restrictions on bank dividends and share buybacks
Fed has already scrapped its payout limits, while ECB plans to do so in October
07/13/2021
Carey Olsen a finalist for The Drawdown Awards 2021
The awards are scheduled to take place on Thursday 23 September at the De Vere Grand Connaught Rooms in London.
07/13/2021
Stephen Allen pleads guilty to forgery in case brought by FCA
Among other assets, Haddow had an interest in a property -13 Brook Mews - which should have been available to the FCA to fulfil this restitution order.
07/12/2021
Digital nomads: working inside the UK
If a business has permanent establishment in the UK, this will not just affect the corporate tax position but could also give rise to other compliance obligations.
07/12/2021
Central Bank of Ireland updates AML/CFT Guidelines for Financial Sector
The Updated Guidelines list a number of steps that the Board should take in order to meet the necessary standard of governance and oversight.
07/12/2021
Dealing with the publicity of a family feud - a modern way of thinking when it comes to the media
Blood may be thicker than water, but when it comes to a family dispute blood can boil far more readily than in a colder more clinical fight with an independent third party.
07/12/2021
​Norway’s GPFG backs requiring UK companies to report climate risks
The pair said company accounts were central to NBIM’s investment analysis, and deficient audit quality posed financial risks to investors and undermined trust in financial markets.
07/12/2021
Brussels sets stage for battle over emissions cuts
EU reform proposals attacked by politicians, industry lobbies, environmentalists
07/12/2021
Esma fines DTCC Derivatives Repository €408,000 for data breaches
The breaches, which were committed between 2014 and 2018, were found to have resulted from negligence on the part of DDRL.
07/11/2021
Implementation of Basel standards
This PS is relevant to UK banks, building societies, and PRA-designated investment firms, as well as UK financial holding companies and UK mixed financial holding companies of certain PRA-authorised firms.
07/11/2021
UK Authorities Issues A Red Flag Over The Usage Of Crypto Ads
A major native advertising business group has announced a crackdown on cryptocurrency advertisements
07/09/2021
FCA fines LBGI £90 million
Renewal premiums offered to customers would also likely have been higher than the premium quoted to new customers, or customers that chose to switch insurance provider.
07/09/2021
FCA Must Come Forward with Tangible, Tested Proposals to Strengthens the Financial Promotions Rules
PIMFA has reiterated its belief that the approval of financial promotions should be a regulated activity.