11/06/2020
EU ‘blacklisting’ takes shine off Mauritius – report
European Commission says the island has ‘strategic deficiencies’ in its anti-money laundering and counter-terrorism financing regimes.
Legal, Regulation & Compliance
11/06/2020
Investment Firms Prudential Regime (“IFPR”) UK implementation – will you be ready ?
Firms should consider how prudential consolidation will apply and the way in which to meet any new requirements.
11/06/2020
Treasury confirms FSCS levy talks as MPs raise concerns
The letters, part of Financial Adviser's Keep Fees Fair campaign, highlight the problems arising due to escalating professional indemnity insurance premiums and a contraction in the market, in addition to eye-watering annual increases in the levy adv
11/06/2020
Danske Bank Fined US$1.4M for Misleading Customers
Vogelzang emphasized that all affected customers have been contacted, and that the bank has compensated more than 99 percent of them.
11/06/2020
Pensions risk transfer market resilient against Covid-19
Many pension schemes which had already substantially de-risked their investment strategy before Covid-19 hit have been able to continue to de-risk through bulk annuities and longevity insurance transactions.
11/06/2020
A new blueprint for financial regulation
HMT is proposing a new institutional framework for developing regulation in the UK.
11/05/2020
IFA jailed for £1.2m Ponzi scheme
Money was used to fund his ‘lifestyle and businesses’ and a ‘substantial’ gambling habit
11/05/2020
EU's Barnier says 'very serious' gaps still in Brexit trade talks
His UK counterpart, David Frost, agreed that “wide divergences remain on some core issues”.
11/05/2020
Worker and Social Cooperatives Reinforce Social Europe through Democratic Quality Work and Social Inclusion
CECOP reacts to a European Commission consultation on the European Pillar of Social Rights Action Plan, highlighting the crucial role worker and social cooperatives take to ensure the protection of social rights of their members by providing quality work
11/05/2020
FCA bans adviser trio jailed for sex offences
Russell David Jameson was an adviser at an authorised firm and approved by the regulator to hold influential and customer facing functions.
11/05/2020
EU ministers agree to set up EU anti money laundering body
The Commission is to present legal proposals to turn that agreement into reality in the first quarter of next year.
11/05/2020
Senior wealth management and financial advice figures gather for PIMFA’s virtual leadership summit
Among the subjects discussed were the Government’s view of the future of financial services regulation after the UK leaves the EU Single Market
11/05/2020
CMA blocks investment technology merger
The CMA has ordered FNZ to sell GBST after finding their completed merger could lead to a reduction in the quality of service and higher prices.
11/05/2020
Bank of England administers a large dose of medicine but the economy faces a long recovery
Although the extension of the furlough scheme will clearly protect jobs, it's not a magic potion and struggling companies will still have to reduce headcount to survive.
11/05/2020
EU Exit: FCA sets out approach to STO
The updated guidance proposes to extend payment deferrals and other support to customers who are experiencing payment difficulties in light of Covid-19.
11/05/2020
CMA blocks investment technology merger between FNZ and GBST
Looking at how the sector is expected to develop in future, the CMA found no basis to suggest that entry or expansion by other suppliers would mitigate the harm caused by the merger.
11/05/2020
FCA chief: No immediate plans to reduce FSCS levy for advisers
Advisers have seen a huge rise in their FSCS levy costs in recent years due to a surge in compensation claims.
11/05/2020
Trio of financial advisers on sex offender register banned
They were all handed custodial sentences for varying charges
11/05/2020
Financial Regulation Update
However, issuers will still be able to publish and file their financial reports in ESEF voluntarily for financial years starting on or after 1 January 2020, from January 2021
11/04/2020
Who's Who Legal recognises nine Carey Olsen partners as experts in private funds
Among the nine recognised, Ben Morgan, partner and head of the Guernsey corporate practice, is also the only Guernsey-based lawyer to be recognised as one of six 'global elite thought leaders' for the offshore region.