10/18/2020
“Magnitsky-style” human rights sanctions now in the UK Overseas Territories
The activities could be carried out by a State or non-State actor.
Legal, Regulation & Compliance
10/16/2020
Majority Ruling of UK Supreme Court Sheds Light on Questions Concerning Law of Arbitration Agreements
A recent judgment of the UK Supreme Court has fortunately provided some clarity on this issue.
10/16/2020
Billionaires Worth Over $35 Billion Could Be Locked Out Of Europe As Cyprus Finally Suspends ‘Golden Passport’ Schemes
Transparency say 30 individuals with pending criminal charges or convictions, and 40 people they classify as “politically exposed persons” were revealed in the leak.
10/16/2020
FCA Regulation round-up: October 2020
The draft Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (and accompanying draft explanatory memorandum) have been published and will be shortly laid in Parliament.
10/16/2020
BREXIT: your final countdown
EEA nationals who began their residence in the UK before 31 December 2020 and who have successfully applied to the EU Settlement Scheme (“EUSS”) will be permitted to continue residing in the UK on a long term basis.
10/16/2020
Cross-border enforcement of Judgments and Brexit
There are some transitional provisions for court proceedings started before 1 January 2021 by which the above principle will continue to apply as between the UK and the EU.
10/16/2020
German Prosecutors Drop Money Laundering Probe Into Deutsche Bank
Despite closing the case, the Frankfurt Public Prosecutor's Office fined the bank €13.5 million (US$15.9 million) for its slow reporting of suspected instances of money laundering.
10/16/2020
Introducing MiCA: Europe's proposed cryptoasset laws, explained
The Commission’s proposals for a ‘Regulation on Markets in Crypto Assets’ (“MiCA”), when implemented, will transform the legal landscape for cryptoassets, including utility tokens and stablecoins.
10/16/2020
Protection providers should adopt FCA guidance to help clients
The City watchdog's guidance followed the temporary measures that have been in place since May this year.
10/16/2020
Monte Paschi's Cover-Ups Have Damaged Italy
The two executives carried out “ambiguous and incomplete” accounting between 2012 and the first half of 2015, according to the indictment.
10/15/2020
EBA changes software capital rules for banks
The European Banking Authority has set out plans to let banks include software assets in their capital requirement calculations, helping lenders to boost their safety buffers.
10/15/2020
Milestone in EBRD work on climate-related financial risk
The publication of the report is an important milestone for the EBRD’s process of aligning its metrics and disclosure relating to climate risks and opportunities to those of other organisations, while formulating plans to become a majority green ban
10/15/2020
FSB updates on work to address market fragmentation
The report was delivered to G20 Finance Ministers and Central Bank Governors ahead of their meeting today.
10/15/2020
FCA fines hedge fund £900,000 for not disclosing short selling
The Short Selling Regulation 2012 (SSR) sets out thresholds for when a firm is required to notify the FCA and disclose to the public details of net short positions held.
10/15/2020
KPMG launches legal department transformation offering
Global Legal Operations Transformation Services supports GCs to adapt to a new reality.
10/15/2020
Common myths surrounding financial services regulation in early stage investing
This is a bit like saying, ‘I don’t have a license to drive, so the highway code doesn’t apply to me,’ and yet it is a real misconception in the market.
10/15/2020
FCA fines hedge fund £900,000 for not disclosing short selling
Asia Research and Capital Management failed to make required notifications, said regulator
10/15/2020
Ex-Monte Paschi Chairman, CEO Convicted of False Accounting
The two executives made an “ambiguous and incomplete” accounting of the derivatives transactions between 2012 and the first half of 2015, according to the indictment request submitted by prosecutors.
10/14/2020
Cyprus hits pause on citizenship-by-investment programme
After the EU country came under fire for reportedly selling passports to criminals
10/14/2020
Deutsche Bank Fined $16 Million by German Prosecutors in Danske Probe
Deutsche Bank accepts $16 million fine to end Frankfurt probe