06/11/2021
An attempt to ReAssure advisers: Company to stop denying transaction history requests
Solution 'going live this week'
Legal, Regulation & Compliance
06/11/2021
Bank regulators plot toughest capital rule for bitcoin
The Basel Committee on Banking Supervision, made up of regulators from the world's leading financial centres, proposed a twin approach to capital requirements for cryptoassets held by banks in its first bespoke rule for the nascent sector.
06/11/2021
FSCS pays out £3.75m on Greyfriars claims
Greyfriars was declared in default by the FSCS in April last year, after the lifeboat fund received at least one eligible claim against the firm.
06/11/2021
Asset management industry blasts “excessively high” fees for essential benchmarking data
The index market is dominated by three firms, FTSE Russell, S&P Dow Jones, and MSCI
06/10/2021
FCA introduces rule to protect customers from insurance ‘loyalty penalty’
As a result, the FCA included more guidance and detail on areas such as the treatment of incentives in the final rules.
06/10/2021
Constructive trusts and immovable property – English High Court grapples with a vexed question of Jersey law
It was common ground between the parties to the English proceedings that that question was a matter of Jersey law
06/10/2021
EU recommits support for the use of intellectual property rights in the Caribbean
The EU said intellectual property and innovation are critical components in fostering trade and investment as well as stimulating innovation and competitiveness in the private sector.
06/10/2021
Law firms: facing the pandemic head on
In the first few precarious months, law firms acted quickly to preserve cash, improving their debtor days, negotiating with banks and cutting partner distributions.
06/10/2021
Consultation Paper on the Codes and Guidance Documents proposed to be re-issued under Revision of Laws
The draft codes and guidance do not implement policy change but replicate the current codes and guidance with the incorporation of minor amendments such as updated references and new terminology where necessary.
06/10/2021
Considering climate change – the Guernsey Commission publishes updated Finance Sector Code of Corporate Governance
Climate change reduction targets will materially alter the economic world we live in over the coming years and may hopefully have a positive impact on our environment.
06/09/2021
Banks tested on climate crisis risks
Insurers will be assessed on the risks to their assets and liabilities, but were tested last year.
06/09/2021
Financial Ombudsman Service complaints rise across the FS Sector during pandemic
Financial services regulatory dispute resolution expert, and ex-FOS ombudsman, Anthony Harrison of Pinsent Masons, the law firm behind Out-Law, said the complaint data showed the impact of Covid-19 pandemic on lives and livelihoods has been profound.
06/09/2021
European Commission adopts new tools for safe exchanges of personal data
The Commission can adopt standard contractual clauses for the relationship between controllers and processors, as a tool to help to demonstrate compliance with the GDPR.
06/09/2021
Carey Olsen advises Starwood on RDI purchase and TISE listing
The transaction gives Starwood controlled affiliates 100% ownership of RDI REIT after a c.30% stake was acquired in the property investment business from South African investor Redefine in July last year.
06/09/2021
Yves Mirabaud: "Zero risk policy is not a solution"
In addition, the law on data protection has just been completely revised and strengthened.
06/09/2021
Subscription Line Finance – Irish Funds
This article sets out an overview and comparison of the most common regulated and unregulated Irish fund types
06/09/2021
Paris and Berlin look to dilute EU's strict bank capital rules
In 2019 the EBA warned that the parallel stack approach was not compliant with the Basel agreement.
06/09/2021
FCA willing to take on legal risk in firm crackdown
The board therefore did not consider that the existence of legal risk should prevent the FCA from taking such action.
06/08/2021
Norway’s Sovereign Wealth Fund Excludes 3 Firms for Rights Violations
Shapir Engineering and Industry, Mivne Real Estate, and Honeys Holdings were deemed an ‘unacceptable risk.’
06/08/2021
Bank of England publishes Discussion Paper on New Forms of Digital Money
The Bank of England has today published a Discussion Paper which aims to broaden the debate around new forms of digital money and seek views on the Bank’s emerging thoughts on the subject.