06/26/2020
MPs step in over 'troubling concerns' at FCA
Mr Stride said whilst it was "welcome" that the regulator had committed to addressing the issues, it had not yet solved the problems.
Legal, Regulation & Compliance
06/26/2020
FSCS mini-bond bill could rise as new evidence found
But this month the compensation body gained access to an additional 100,000 emails held within LCF’s email server, which provided further evidence of liability, it said.
06/26/2020
Coronavirus and home baking's renaissance in Cyprus
In recent years, the Bank has extended its support to flour producing company Hadjigiorkis Flourmills
06/25/2020
Carey Olsen advises on sale of Lloyds Bank International's Channel Islands wealth management and funds business
The business has total funds under management of £1.0 billion (as of 31 May 2020). T
06/25/2020
Ogier advises Urban Logistics on seven-site Crown Portfolio purchase
The transaction, effected through the acquisition of a Jersey property unit trust, involved a number of law firms across Jersey, England and Scotland, with Ogier working closely with Urban Logistics' onshore counsel, Wedlake Bell.
06/25/2020
FCA consultation and thematic review on proposals to improve value for money in pensions
The FCA has also published the results of its thematic review
06/25/2020
Paris art experts arrested over looted antiquities
It comes amid claims that Paris is an international centre for trade in illegal artefacts.
06/25/2020
Clients of jailed ‘playboy’ adviser sue Tavistock
Chief executive Brian Raven said the firm is facing ‘no further’ FOS complaints, but two former clients are currently taking legal action.
06/25/2020
Prudential accused of ‘client grab’
Mr Jordan said the Prudential website offered his clients five alternatives to using their IFA, adding he was “extremely unhappy about this”, and that it “trampled over the IFA relationship without any regard for the advisers”.
06/25/2020
Billions of dirty euros in ordinary Belgian bank accounts
Bringing money in from tax havens is even more difficult.
06/25/2020
Second Ex-Freshfields Partner Charged in German Tax Probe
The trades on which Tobias T. worked were done from 2007 to 2009 and caused tax losses of 346 million euros ($390 million), according to the charges.
06/25/2020
Ultra-Rich Monaco Wants to Fund Social Impact Projects With Security Tokens
Given Monaco’s high concentration of wealth (one in every three people is a millionaire and the place attracts hundreds of billionaires), it’s surprising it doesn’t have much of a financial center – like the comparably small Lichte
06/25/2020
EY and PwC probed over role in investment scheme where pensioners lost millions
LCF went into administration in January 2019, leaving 11,600 investors facing losses of up to £237m
06/25/2020
The demise of IBOR: key considerations to prepare for the phase out
A number of bank issuers have already started to make the proactive step to transferring their older legacy deals that will cross over into 2021 to alternative rates.
06/25/2020
Guernsey’s insurance sector adopts global sustainable framework
Its response was developed in a collaborative effort between the insurance industry association, and the industry organisation driving the development of green and sustainable finance in the island.
06/25/2020
Embattled payments firm Wirecard collapses into insolvency
Over the weekend, banks in the Philippines said documents produced by Wirecard appeared to be false, and the country’s central bank also said the money had never entered its financial system.
06/24/2020
FCA discussion paper on new prudential regime for MiFID UK investment firms
Her Majesty's Treasury (HM Treasury) has published a policy statement on its legislative approach for prudential standards in the Financial Services Bill post-EU withdrawal
06/24/2020
HM Treasury and FCA statements on amendments to the Benchmarks Regulation
These statements underline the need for firms to continue to migrate away from LIBOR
06/24/2020
Brexit: HM Treasury and FCA Update on Financial Services Bill post-EU withdrawal
HM Treasury considers the most effective way to balance the principles in 1.13 is to delegate responsibility for the implementation of firm requirements to the Regulators
06/24/2020
Getting the full picture – putting the FCA’s mini-bond policy to the test
At the core of the work was a design-led approach – using behavioural science techniques to tackle the problem from the human angle.