05/20/2021
Prepaid Financial parent sheds 46% of value over investigation
Central Bank considering taking regulatory action against Irish-founded firm
Legal, Regulation & Compliance
05/20/2021
UK’s FCA To FinTechs: You’re Not Banks
The concerns set out in the letter to FinTechs demonstrate the “growing anxiety among regulators” regarding companies following the collapse of German payments firm Wirecard, the news outlet said.
05/20/2021
Goldman bets on UK anti-money laundering start-up
Bank invests in company aiming to benefit from efforts to combat financial crime
05/20/2021
Carey Olsen retains best offshore law firm title at WealthBriefing European Awards
Winning this award for the second successive year is testament to the hard work of our teams
05/20/2021
FCA brings fraud charges against unregulated adviser
Mr Hudson will appear at Southwark Crown Court for a Plea and Trial Preparation Hearing on 17 June 2021.
05/20/2021
Financial Regulation: Daily Update
The proposals are part of a wider package of amendments to the BMR in the FS Act, which aim to ensure that the FCA has the appropriate regulatory powers to help reduce risk of harm to consumers and ensure market stability in the wind-down period before LI
05/19/2021
Financial Regulation: Daily Update
The letter sets out the FCA's concerns on the lack of disclosure that e-money firms offer customers in respect of the differences between their services and traditional banking
05/19/2021
Directors banned after taking £14m from investors
According to the Insolvency Service false accounts had also been sent to the company’s bank.
05/18/2021
Former Coutts employee jailed for his part in £1.2m scam
Private bank worker passed on customers’ security details to organised crime gang
05/18/2021
Financial Regulation: Daily Update
By preventing CMCs from managing such claims, the FCA aims to ensure CMCs are not seeking to profit from past misconduct of individuals connected with the CMC.
05/18/2021
ECB Banking Supervision to supervise securitisation requirements for banks
Over the coming months, the ECB will define how exactly it intends to perform these supervisory tasks.
05/18/2021
Restructuring, Turnaround and Insolvency E-Bulletin
Whilst restructuring plans are a process under United Kingdom law
05/18/2021
Global life insurer admits it helped US citizens hide $1.45bn
Swiss Life Holding AG, Swiss Life (Liechtenstein) AG, Swiss Life (Singapore) Pte. Ltd., and Swiss Life (Luxembourg) S.A. Enter into Deferred Prosecution Agreement for Criminal Misconduct; Agree to Collectively Pay More than $77 Million
05/18/2021
Cyprus files first prosecution in passports scandal
Parliament speaker Demetris Syllouris and an opposition MP were secretly filmed allegedly trying to facilitate a passport for the fugitive investor.
05/18/2021
Pimfa chief: New post-Brexit regulation supports FSCS reform
UK firms will not have to implement the IFPR until January 2022, unless they have a European base or subsidiary.
05/18/2021
The rise in scams and the threat to a legitimate financial services industry
The FCA detected the promotion on the same day it appeared and started immediate inquiries.
05/18/2021
Clifford Chance advises the syndicate of underwriting banks on Euronext’s successful EUR 1.8 billion rights offer as part of the financing of its EUR 4.4 billion acquisition of Borsa Italiana
This transaction builds on Clifford Chance’s leading EMEA capital markets practice
05/17/2021
EBRD statement on Kumtor Gold
The EBRD will work with its shareholders, other international financial institutions and the foreign and domestic business community to highlight the negative consequences of such a course of action and to mitigate its impact.
05/17/2021
Ireland's Implementation Plan to Tacle Economic Crime and Corruption
This is a further step towards the passing of new legislation to set up an independent Corporate Enforcement Authority which is intended to replace the existing Office of the Director of Corporate Enforcement.
05/17/2021
FCA announces plans to stop CMC phoenixing
The CMC represented customers claiming more than £5m from the FSCS in claims against the husband’s former financial advice firm.