07/01/2020
Russia Steps Up Hunt To Seize Foreign Assets of ‘Putin’s Banker’
Alfa Group hired to track and seize overseas wealth in the latest development in legal battle between the Kremlin and Sergei Pugachev.
Legal, Regulation & Compliance
07/01/2020
Covid-19: FCA statement on APR expectations
The Financial Action Task Force (FATF) has launched a consultation on its proposals for amendments to Recommendation 1 and its Interpretive Note to require countries and the private sector to identify, and assess the risks of potential breaches
07/01/2020
Central banks a stabilising force in response to unprecedented crisis
In its flagship economic publication, the BIS analyses central banks' response to the global economic sudden stop, induced in order to prevent a public health disaster.
07/01/2020
FCA consults on revised remuneration provisions for UK Investment Firms
The FCA proposes to follow this categorisation under the IFPR.
07/01/2020
No automatic redemptions in a masterfeeder structure
Update prepared by Simon Dickson (Partner, Cayman Islands) and Jaclyn Pascoe (Knowledge Management, Cayman Islands)
07/01/2020
Italian FA issues guidelines on players' expiring contracts
This followed FIFA’s adoption, in April 2020, of a document (“Covid-19 Football Regulatory Issues”) authorizing its member associations to extend the season beyond June 30, 2020.
07/01/2020
FCA gives update on banks’ overdraft pricing decisions and plans to support consumers
The new overdraft rates came into force between November 2019 and April 2020, following the rules we published in June 2019.
07/01/2020
Jersey Private Funds
The JFSC had previously applied a similar proportionate and light-touch approach to very private structures
06/30/2020
European Parliament adopts the Taxonomy Regulation
The classification will be further developed through technical screening criteria, which will be laid down by the Commission in the related delegated acts.
06/30/2020
LIBOR - When the going gets tough, the tough legacy contracts get going
These considerations provide useful guidance to market participants in assessing the nature of their exposure to tough legacy contracts
06/30/2020
What the 'no-fault' divorce bill entails
The Divorce, Dissolution and Separation Bill (commonly referred as the no-fault divorce bill) has passed its third reading in the House of Commons and will next be considered by the House of Lords.
06/30/2020
How coronavirus is changing data protection for firms
Some are still catching up with the general requirements of the new framework of law
06/30/2020
Ex-Kazakh president's grandson, others seek 1.5 million pound costs after UK wealth order failure
But the High Court in April ruled in favour of Aliyev over the house connected to him and discharged the orders against the companies which owned the other properties.
06/29/2020
Financial relief for struggling businesses: new UK insolvency legislation now in force
The new legislation includes a raft of temporary measures aimed at bringing relief to businesses struggling through.
06/29/2020
As UK dividends collapse, where can investors still turn for income?
The distribution per share that the product declared in June fell by 60%1 compared to the same payment made last year and reflects dividend news from March, April and May.
06/29/2020
The post-Brexit regulatory landscape – divergence and competition without dilution?
This clearly rules out a “cut and paste” approach to adopting any EU legislation that goes live after the transition period.
06/28/2020
Covid-19: FCA updates submission deadlines for regulatory returns
Given the impact of coronavirus (Covid-19), we have introduced some temporary measures for firms submitting regulatory returns.
06/28/2020
FCA censures AIM firm for market abuse
As a result, investors were misled and paid more when purchasing shares than they would have done had they known the true position.
06/28/2020
FCA updates TR registration arrangements webpage
Any TR wishing to offer its services relating to onshored EMIR (UK EMIR) or onshored Securities Financing Transactions Regulation (UK SFTR) in the UK after this date will need to be registered with, or recognised by the FCA.
06/28/2020
Covid-19: PRA statement on regulatory reporting and disclosure amendments
This statement outlines the PRA’s revised approach to regulatory reporting and Pillar 3 disclosure for PRA-regulated banks in response to the Covid-19 outbreak.