12/15/2020
FCA fines and prohibits hedge fund Chief Investment Officer for market abuse
Mr Abbattista was aware of the risk that his actions might constitute market manipulation, but recklessly went ahead with those actions anyway.
Legal, Regulation & Compliance
12/15/2020
EBRD and OECD to strengthen cooperation
The MoU identifies new strategic areas of common interest for enhanced collaboration.
12/15/2020
FCA: CP20/24 on IFPR for MiFID investment firms
This is the first of three consultations that the FCA will issue in order to introduce the regime on 1 January 2022.
12/15/2020
PRA publishes Policy Statement on remuneration provisions for Banks and Credit Institutions
As expected, the Policy Statement largely affirms the proposals made by the PRA and FCA in the summer, with some minor concessions.
12/15/2020
Credit Suisse's new CEO gets a crash course in risk
Thomas Gottstein has faced one setback after the next in his short reign atop Switzerland's second-largest lender
12/15/2020
DARE Legislation Opens the Door for New Industry
It also provides for the regulation of digital assets- based payment service businesses and for the registration of financial services related to the creation, issuance or sale of digital tokens and other digital assets.
12/15/2020
UK Immigration Post-Brexit
Those wishing to work or stay in the UK for longer will need to apply for a visa under the new immigration system.
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.
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.