06/24/2020
FSCS recoups millions from defunct DFM
The FSCS had estimated in 2018 that it would pay about £6m in compensation to Strand's clients.
Legal, Regulation & Compliance
06/23/2020
FSCS apologises over customer satisfaction survey error
After UK lifeboat scheme caused ‘confusion’ for mini-bond victims who thought it was a scam
06/23/2020
FCA statement on move to new data collection platform
Firms will not be able to access RegData until they and their users’ data have been moved from Gabriel.
06/23/2020
FCA reminds cryptoasset firms to register by 30 June
Any businesses that started carrying on business in the UK immediately before 10 January 2020 and are not registered by the FCA by the 10 January 2021 deadline will have to cease carrying on business.
06/23/2020
Warranty Claims: On Time, But too Late?
That explains the due diligence that is usually conducted by buyers, where the buyer and its advisors scrutinise the target company and its assets and liabilities in rigorous detail.
06/23/2020
Asset Freeze Measures Fully Extend to Controlled Entities and Cover Services and Labor, Says the European Commission
It also confirms that the concept of "economic resources" can cover services and labor.
06/23/2020
Adapting Model Governance to AI/ML Systems for Financial Institutions
As financial services companies, from banks to asset manager to insurance companies, begin adopting AI/ML systems, they will need to tailor their existing policies to address these unique issues.
06/23/2020
Council of Europe Calls for More Cross-Border Financial Probes
The EU has in recent years strengthened its legal framework for countering money-laundering and financing of terrorism.
06/23/2020
Over 40 new firms commit to promoting gender diversity in financial services
Over 40 new companies have signed up to the Women In Finance charter, which aims to promote gender diversity in Financial Services, the City Minister John Glen has announced today.
06/23/2020
Global tax guide to doing business in...
This edition of our annual insight piece is aimed at providing a high-level overview of the tax consequences that face businesses planning to expand international operations.
06/23/2020
Former Wirecard chief arrested over missing €1.9bn
Chief operating officer, Jan Marsalek was sacked hours later after the management board’s statement, as he was suspended from the board last week.
06/23/2020
Beijing courts UK firms with tax benefits
Around 20 UK-based fund managers attended an online conference organised by the city of London and the Beijing Local Financial Supervision.
06/22/2020
'Scandalous' RBS helped fraudsters cheat the taxman as High Court rules it was involved in £45m VAT fraud
RBS has been accused of 'scandalous' behaviour after a High Court decision
06/22/2020
Ireland update: EBA ICT and risk management guidelines apply from 30 June 2020
Risk of loss due to breach of confidentiality, failure of integrity of systems and data, inappropriateness or unavailability of systems and data or inability to change information technology within a reasonable time
06/22/2020
Extradition hearing of former Abraaj CEO to start in London
US authorities want Arif Naqvi to stand trial in America on charges of fraud and money laundering
06/22/2020
FCA sees ongoing charges as a problem
We could see regulated services paid on an ongoing basis and unregulated not
06/22/2020
Deadline looms for Britons living in EU
f they cannot reach an agreement with the EU before the end of the transition period, the UK could leave the bloc without a trade deal.
06/22/2020
Italian Banks Are Ready to Trial a Digital Euro
The group prioritized the need for a digital currency framework to be fully compliant with EU regulations to win the public’s trust, and said banks will play a critical role in upholding that trust.
06/22/2020
Solvency II solutions when choosing reinsurance from Guernsey
Jason Noronha, Head of Actuarial and Analytics at Aon, who heads the firm’s non-life insurance actuarial consulting team, clarifies Solvency II regulations as they relate to reinsurance from Guernsey.
06/21/2020
Covid-19: FCA proposals to support consumer credit customers
The proposals outline the support firms would be expected to provide to credit card and other revolving credit and personal loan customers coming to an end of a payment freeze