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.
Legal, Regulation & Compliance
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.
12/10/2020
FCA confirms speculative mini-bond mass-marketing ban
The FCA has published a Final Notice fining a financial advice firm £107,200 for providing its customers with unsuitable pension switching and transfer advice and failing to manage its conflicts of interest.
12/09/2020
FCA & PRA: 5th meeting of joint CFRF
The draft regulation amends the rules for the content of the file to be submitted by the investigation officer to ESMA, the right to be heard with regard to interim decisions, and the lodging of fines and periodic penalty payments.
12/09/2020
High court shuts down UK art investment firms
They ‘were used as part of a cynical scam targeting members of the public’
12/09/2020
EBA informs customers of UK financial institutions about the end of the Brexit transition period
In order to continue to provide financial services in the EU, UK financial institutions will need to ensure that they offer these services through entities that are duly authorised in the EU.
12/09/2020
Walkers Advises on the £29 million Sale of Business Park
The team worked with lead counsel Trowers & Hamlins LLP and administrators Dominion on the matter.
12/09/2020
FSR Outlook 2021: Paving the Way Forward
Protecting investors through a focus on end outcomes, managing innovation in payments, and ensuring digital operational resilience are of course high on the list.
12/09/2020
Switzerland orders 12 banks to comply with Fatca
The request from the Internal Revenue Service (IRS) cited the Foreign Account Tax Compliance Act (Fatca) as the reason for compliance.
12/09/2020
Guernsey Private Investment Fund regime enhanced by proposed changes
The revisions will create the most comprehensive and flexible suite of options of any private fund regime.
12/09/2020
Bowing out gracefully: LIBOR’s retirement draws near - speech by Andrew Hauser
LIBOR is an interest rate benchmark used in financial markets, which is being phased out. Andrew Hauser sets out what businesses and lenders need to do to be ready for transition.
12/09/2020
EU Developing Plan for National Covid Bad Banks If Needed
Europe’s banking system had a slow recovery from the financial and European debt crises a decade ago, and governments still hold stakes in some lenders.
12/08/2020
DNB faces fine over money-laundering procedures
DNB will now examine Finanstilsynet's report and submit a response, but it said that as Finanstilsynet has not yet finished processing the case and hasn't reached a final conclusion, DNB can't go into further detail on the content of the re
12/08/2020
Bank of England considers legal action over green bonds hoax
“We are aware that a group purporting to be the Bank of England has published fake announcements today through social media and email,” a spokesperson said.
12/08/2020
Open consultation | Non-resident capital gains tax
The Finance Act 2019 expanded the scope for taxing gains made by non-UK residents on UK property
12/08/2020
FCA: Update of position limits for certain commodity derivative contracts
The guidance covers all stages of insolvency, including pre-insolvency, entering insolvency, post insolvency, and restructuring procedures.