07/19/2020
HMT consultation on implementation of CRD V
The Directive must be transposed into national law by 28 December 2020.
Legal, Regulation & Compliance
07/19/2020
FCA seeks views on extending the implementation deadlines for the Certification Regime and Conduct Rules
This delay will give firms, who have been significantly affected by the coronavirus pandemic (Covid-19), time to make the changes they need.
07/19/2020
Covid-19: FCA CP - Extending the implementation deadlines for the Certification Regime and Conduct Rules
The FCA notes that where firms are able to certify staff and submit information about Directory Persons earlier than March 2021 they should do so.
07/19/2020
FCA confirms MoUs with ESMA and EU securities regulators
The FCA, ESMA, and EU national securities regulators, confirm that these MoUs remain relevant and appropriate to ensure continued good cooperation and exchange of information.
07/17/2020
Ogier's Private Wealth team "leading players in the Channel Islands"
Global Service Line Head of Private Wealth James Campbell, who advises individual and institutional clients on a wide range of trust matters, is "very pragmatic, sensible and a nice guy to deal with".
07/17/2020
Carey Olsen's Elaine Gray named Guernsey Chamber of Commerce's first ever female president
Elaine, who is partner and head of the Carey Olsen Guernsey dispute resolution and litigation team, has served as vice president of the Guernsey Chamber of Commerce for the past year.
07/17/2020
ESMA reports on MiFID/MiFIR transparency regime
The proposals put forward in both reports aim to simplify the current complex transparency regime while trying to improve the transparency available and are taking into account the feedback received from market participants through consultations.
07/17/2020
UBS will no longer be able to contest client data sent to France tax authorities: Swiss court
The bank appealed against the decision, which was rejected by the Federal Administrative Court earlier this month.
07/17/2020
Covid-19: FCA and City Corporation 'digital sandbox' for innovative firms
Building on our approach to innovation, we are collaborating with The City of London Corporation to pilot a ‘digital sandbox’.
07/17/2020
FCA provides guidance to firms on maintaining access to cash for customers
The guidance sets out the FCA’s expectation that firms should carefully consider the impact of a planned closure or conversion on their customers’ everyday banking and cash access needs
07/17/2020
“NHR” under pressure in France and Portugal
Other Tax Authorities in the European Union are concerned by this situation which they consider to be the subject of aggressive tax competition on the part of Portugal.
07/17/2020
Romania, Ireland fined by EU top court over anti-money laundering rules
Those rules reinforced surveillance requirements for banks, lawyers and accountants
07/17/2020
Latvia's financial watchdog fines Signet Bank nearly a million euros
The Board of the Financial and Capital Market Commission (FKTK) on July 14 2020 decided to apply a fine of EUR 906,610 euros to Signet Bank for breaches of the anti-money laundering
07/17/2020
Investors sue Deutsche Bank and its CEO in wake of Epstein fine
New York regulators last week announced Deutsche Bank would pay the fine for “significant compliance failures” over Epstein and two unrelated cases.
07/17/2020
English High Court provides useful guidance on the requirement to notify a claim as soon as possible in rejecting an indemnity claim under an SPA
After the Claimant and its group companies issued a claim seeking a declaration that they were entitled to be indemnified against certain liabilities for professional negligence
07/17/2020
Allegations over offshore funds swirl around Spain’s former king
Recent reports in the British, Swiss and Spanish press have increased the pressure on the royal family.
07/17/2020
EFAMA sets out ESG sustainability plan for EU
EFAMA members are committed to play their role to help achieving the Commission's objective of channelling at least €1 trillion towards sustainability-related investments over the next decade
07/17/2020
Covid-19: FCA and City Corporation 'digital sandbox' for innovative firms
The FCA's dedicated webpage confirms it will publish further information including how to apply to the digital sandbox and the specific use cases later in summer 2020.
07/17/2020
FCA and City Corporation collaborate to help innovative companies drive recovery from coronavirus
Innovation is a powerful driver of effective competition and can help to accelerate the development of new solutions to emerging challenges.
07/17/2020
EU court voids data-sharing pact with US over snooping fears
National regulators have been urged to step up to protect users’ privacy.