05/26/2020
Pilatus fined for failing to give information to FIAU
Bank was fined for its failure to reply to two 2017 requests for information
Legal, Regulation & Compliance
05/26/2020
Advantages of setting up Lasting Powers of Attorney in the UK
There are two types of LPA in the UK; one that covers Health and Welfare and another that covers Property and Financial Affairs.
05/25/2020
Mayer Brown collaborates with Morae to ease transition from LIBOR to RFRs
The collaboration of Mayor Brown and Morae provides an ideal choice for LIBOR transition
05/25/2020
COVID-19: FCA consultation - draft guidance on mortgage payment holidays
For those who are still experiencing temporary payment difficulties due to coronavirus, firms should continue to offer support, which could include extending a payment holiday by a further three months.
05/25/2020
FCA acts to strengthen protections for customers using payment firms
Payments firms bring financial parties together to deliver a simple payment experience for business and their customers by processing payments quickly and efficiently, and offer services including money remittance.
05/25/2020
COVID-19 Worsens Pre-existing Financial Vulnerabilities
Vulnerabilities in credit markets, emerging countries and banks could even cause a new financial crisis.
05/25/2020
Switzerland cooperates with Vatican fraud investigation
The Vatican’s prosecutor opened an investigation into the funds last October after it emerged that some of the money invested came from donations to the Peter’s Pence charitable collection.
05/25/2020
Africa and EU: A strengthening partnership - European Union’s new Africa strategy amidst COVID-19 uncertainty
The EU and Africa have partnered on addressing Africa's access to power for some time
05/25/2020
Credit Suisse CEO expects staff cuts, report says
The bank has a four phase plan to return to normal and reopen closed bank branches, which includes free anonymous Covid-19 antibody testing.
05/24/2020
New Supervisory and Enforcement Regime on the Horizon: Practical Guidance for Financial Institutions
In Q1 2021, the Commission will publish legislative proposals "to deliver a single rulebook in the field of AML/CFT, based on a thorough impact assessment.
05/22/2020
COVID-19: FCA response to TSC inquiry into economic impact
The article presents the outcome of the FSCS's research over the course of 12 months as it sought to build a better picture of phoenixing.
05/22/2020
Millionaire Monaco-based Matalan founder sues PwC over tax liability
This alleged non-residence led Hargreaves to claim he was not liable to capital gains tax on a gain of £200 million arising on the disposal of Matalan shares during its time as a public company.
05/22/2020
Uncertainties exist over whether EU member states will agree extended DAC 6 deadlines
Arrangements that must be reported are those that meet one or more of the hallmarks listed in the annex to the directive.
05/22/2020
COVID-19 – Global Implications for Anti-Money Laundering and Counter-Terrorist Financing
With criminals trying to take advantage of pandemic fears, regulators and national governments have warned against an increase in criminal scams and laundering opportunities often associated with crises like the current pandemic.
05/22/2020
Advisers warn FSCS levy adds to 'extreme pressure'
"Time and time again, the cost of failures and crooked activity end up being paid for by those who do things right."
05/22/2020
The Impact of Foreign Investment Control on Cross-Border Transactions: Charting a Course in Uncertain Times
While some Western countries – in particular the United States and Australia – have had strong foreign investment control regimes in place for many years, new regimes have proliferated in the last five to 10 years, particularly in Europe.
05/22/2020
Standard victory in secret papers fight over £14m ‘dirty cash’ case
But in a setback for transparency in the justice system, the judge also ordered that the couple’s names be kept secret at least until a later hearing.
05/21/2020
EU to Keep Its Ability to Sanction Foreign Cyber Attackers for One More Year
Targeted individuals are additionally subject to travel bans, meaning that a member state must prevent these individuals from entering or transiting its territory.
05/21/2020
COVID-19: Corporate Insolvency and Governance Bill
The European Securities and Markets Authority (ESMA) has published a public statement which addresses the implications of the COVID-19 pandemic on interim financial statements
05/21/2020
The European Commission approves the COVID-19 Interest Rate Subsidy Scheme
The government has allocated around €40 million to pay up to 2.5 per cent interest due on the working capital loans covered under the MDB COVID-19 Guarantee Scheme, for the first two years.