06/01/2021
U.K. banks block payments to crypto exchanges
Cryptocurrency users have been taking to social media in recent days to complain about the various crackdowns.
Legal, Regulation & Compliance
06/01/2021
Mark Williamson: Edinburgh pensions expert puts fund managers in focus
The default defined contribution schemes concerned hold the savings of millions of people, including many on relatively low incomes who have been automatically enrolled in company plans.
06/01/2021
Pinsent Masons advises Nest pension scheme on infrastructure investment
Nest intends to invest in a range of infrastructure types including fibre networks, social housing, water and waste treatment plants, and seaports.
06/01/2021
FCA publishes speech on the rise in scams and the threat to a legitimate financial services industry
Mr. Steward noted that there has been an increase in the number of investment scams over the past year, which is expected to continue rising.
06/01/2021
Proposed New Framework for Business Taxation in the European Union
BEFIT will replace the long pending but never agreed EU proposal for a Common Consolidated Corporate Tax Base (CCCTB) across the EU.
06/01/2021
Pair sentenced to 19 years for £2m investment fraud
Analysis of bank statements following an eight year investigation showed over £30m went through the various company accounts controlled by Mr Seakens.
05/31/2021
Financial Regulation: Daily Update
The FCA has also published an infographic on the new rules and a research note on how incentives affect consumers’ choices, focusing on purchases of motor and home insurance made through price comparison websites.
05/31/2021
Director fails to block tax inquiry into offshore cash
Revenue entitled to reopen case centring on money in Isle of Man bank account, commission rules
05/31/2021
Fed Warned Deutsche Bank Over Anti-Money-Laundering Backsliding
Frustration with Germany’s largest lender has escalated to a point that the bank could be fined
05/31/2021
Clifford advises lender banks on largest sustainable financing in Spain to date
Clifford Chance has advised the lender banks on a €3.3 billion ESG facility in preparation for Acciona´s Energy division´s IPO
05/31/2021
CySEC extends deadline for 2020 annual fees due to Covid
The extract from the CIFs audited financial statement with the total turnover of the corresponding year.
05/31/2021
English Court Confirms Expansive Jurisdiction to Reverse Transactions to Defraud Creditors Even Outside Insolvencies
The ruling confirmed that Section 423 of the Insolvency Act 1986 has extensive international reach, and does not require a transaction at an undervalue to leave the debtor with insufficient assets.
05/30/2021
Belgium - EU judges oblige Tax Authorities to apply anti-abuse provisions
This decision was based on an assessment by the Commission of the aforementioned transactions under the criteria for the relevant anti-abuse provision, as laid down in case law.
05/28/2021
Insurers in Britain to be banned from imposing loyalty penalties
Plan to end practice where existing customers are offered higher quotes than new ones
05/28/2021
Germany: Lower house of parliament approves law to implement EU anti-tax avoidance directive
The ATAD implementation law approved by the lower house of parliament still has to be approved by the upper house. It is expected that this will happen on 25 June 2021 without any further changes.
05/27/2021
Boss of financial regulator says it was not up to the job
Head of Financial Reporting Council says successor body not due to be in place until 2023
05/27/2021
Statement on the Recovery Loan Scheme (RLS)
Our approach to regulating firms in relation to the Government’s RLS.
05/27/2021
Dutch sickness data rules breached
“These are two very serious violations of the EU General Data Protection Regulation (GDPR),” Walter said
05/27/2021
EU court asked to rule on right to online anonymity
The right to online anonymity is to be tested in a case to be referred to the EU’s highest court.
05/27/2021
Funds Costs & Fees - Regulatory Spotlight
With this increased focus on costs and fees at both a European and national level, it is useful to consider the existing requirements, regulatory expectations and next steps for fund management companies.