12/15/2020
Overseas Territories: progress made on improving transparency and addressing illicit finance flows
The UK will continue to work with the OTs and provide all reasonable assistance as they develop their registers.
Legal, Regulation & Compliance
12/14/2020
Euro zone banks set to restart dividend payments under strict limits
European Central Bank’s supervisory board, which oversees the 117 biggest banks in the euro zone, plans to announce its decision on Tuesday
12/13/2020
Covid-19: FCA guidance consultation on proving Covid-19 presence in BI insurance claims
Feedback is requested by 18 January 2021.
12/11/2020
CII cannot ‘legally challenge’ firms faking chartered status
As spot check finds 47 advice companies on Unbiased which are not on the institute’s database
12/11/2020
EU Settlement Scheme: what do employers need to know?
They must have started living in the UK by 31 December 2020 and can then stay in the UK for a further 5 years from the date they get pre-settled status.
12/11/2020
FCA issues warning over festive season loan fee fraud
‘Three Wise Warnings’ for consumers to look out for this Christmas as fraudsters attempt to steal two-thirds of average gift spend.
12/11/2020
UK Supreme Court paves the way for £14 billion Mastercard class action
The judgment, upholding a Court of Appeal decision last year, could set the scene for Britain’s first mass consumer claim brought under the new legal regime.
12/11/2020
Bank of England warns of Brexit payment disruption
To the extent that gaps remain at the end of the transition period, they are likely to result in some disruption to both EU and UK customers and businesses seeking to make and receive such payments.
12/10/2020
UK holidaymakers barred from EU after 1 January under Covid rules
European commission indicates Britons will face ban on nonessential travel at end of Brexit transition
12/10/2020
Pound drops as chances dim for post-Brexit trade deal after 'lively' dinner
Bank of England Governor Andrew Bailey has warned a no-deal Brexit would cause longer-term damage to Britain’s economy than the COVID-19 pandemic, and the impact of the change might be felt for decades.
12/10/2020
Ex-adviser with 6 aliases banned by FCA
As a result she was sentenced to 18 months in prison, disqualified under the Company Directors Disqualification Act 1986 for 10 years and handed a confiscation order for £13,115.98.
12/10/2020
Dutch court to probe UBS boss over ING money laundering problems
It said ING had acted to prevent further violations and acknowledged the serious problems at the bank.
12/10/2020
Offshore fund finance in 2020, the year in review
Within that more global trend, we set out below some brief thoughts and highlights from each of our respective jurisdictions over the last 12 months.
12/10/2020
FCA fines IFA £107k for unsuitable pension transfer advice
Between January 2013 and November 2017, LJFP also failed to ensure that it identified and managed potential conflicts of interest fairly between itself and its customers, in breach of Principle 8 of the FCA’s Principles.
12/10/2020
FCA confirms speculative mini-bond mass-marketing ban
Protecting consumers from harm in the investment market was identified as a priority in the FCA’s 2020/21 Business Plan.
12/10/2020
French watchdog fines Google €100m and Amazon €35m over cookies law breach
Cookies are text files that allow websites to remember consumers and their past activity.
12/10/2020
JTC Enhances Employee Benefits Offering with Acquisition of RBC CEES Limited
Around 180 CEES employees, including the senior management team, will join JTC at completion, becoming part of the company’s Institutional Client Services (ICS) Division.
12/10/2020
FCA: Update on CP20/11 complaints against regulators
The aim of the amendments is to ensure a statutory replacement benchmark can be established by the regulators by the time LIBOR is no longer in use.
12/10/2020
Switzerland takes over the Presidency of the Alpine Convention from France
A series of projects and events are being set up to bring together relevant actors in the Alpine region, including ‘MoVe the Alps', an international conference on cycle tourism scheduled for April 2021.
12/10/2020
International data transfers: new requirements for the use of standard contractual clauses
What was missing from the Schrems II ruling was any practical guidance for organisations about how to adjust their international data transfers to this new landscape.