04/08/2020
Grant Thornton sees audit profits slashed by 90%
The mid-tier firm made a profit of £1 million from audits in the 18 months to January, down from £13 million in the previous 12 months.
Legal, Regulation & Compliance
04/08/2020
Germany’s 100pc guarantees highlights shortcomings of UK loan scheme
Germany is standing behind 100pc of loans to previously profitable businesses, while the UK is only offering 80pc guarantees
04/08/2020
IPEV releases special valuation guidance
The Guidelines were last updated in 2018 and are the prevailing framework for fair value information in the PE/VC industry.
04/07/2020
Insurer WPA provides online GP to staff and clients
The service provides 24/7 access to a GP helpline including unlimited phone or video consultations; a private prescription service and specialist referrals if required.
04/07/2020
Brussels delays MiFID II consultation due to covid-19
The consultation aimed to collate the input of stakeholder on "areas that would merit targeted adjustments" to the directive and how they should be prioritised by rule makers.
04/07/2020
Lindsell Train funds breach UCITS concentration rules - reports
Individual holdings breach limits
04/07/2020
FCA sets out priorities for 2020/21
Looking ahead to the medium term the Business Plan sets out four priority areas where the FCA will address continuing harm.
04/07/2020
Coinhouse Wins First Crypto License From French Regulator
The firm is now raising equity and integrating risk warnings, investment disclaimers and other legal documents to make a bid for the French crypto license.
04/07/2020
COVID-19 crisis spurs triple-digit growth for refurbishing startup Back Market
Also being considered is additional grant funding via InnovateUK, a government body providing support to innovative businesses, and an expansion of R&D tax credits.
04/07/2020
Adviser FCA fees to increase to £81m
The watchdog’s funding requirement, which includes £15m in EU withdrawal costs and £10m to support its own transformation programme, has increased 5.2 per cent to £587.6m.
04/07/2020
“Bank of England purchases – why so fast?” - Kames Capital
“Better to be early to the party than not attend at all.”
04/07/2020
TBC Bank and Citi sign a $67 million trade finance facility
Proceeds of this facility will support import and export transactions for customers of TBC Bank
04/07/2020
Implementation of the 5th AML Directive into Luxembourg law
The 2020 Law, which is significant in the context of the FATF’s scheduled on-site visit in Luxembourg, impacts the national AML/CTF framework in a number of key areas.
04/07/2020
HSBC board to avoid angry investors at AGM behind closed doors
The usual format of the AGM will be condensed and will only include the formal business of the AGM.
04/07/2020
Uncleared margin rules delayed for one year
Asset managers receive respite from authorities in implementing the final phase of the uncleared margin rules as coronavirus continues to impact regulation.
04/07/2020
FCA announces 6 month delay to policy changes
This extended implementation period recognises the operational challenges of implementing new rules in the current circumstances.
04/06/2020
PrivatBank files new lawsuit for $5.5 bln in Cyprus against ex-owners – bank
The bank claims that they were fictitious loan agreements, none of which were repaid.
04/06/2020
Covid-19 adds to the challenges facing law firms
Law firms are cutting salaries and some are seeking to participate in the Government’s temporary Covid-19 wage subsidiary scheme
04/06/2020
Spain To Roll Out Permanent Universal Basic Income ‘Soon’
Prime Minister Pedro Sanchez’s government rolled out a €200 billion package ($216 billion) last month to boost Spain’s economy, in line with stimulus packages introduced in some of the worst-hit countries.
04/06/2020
Charities Registration and Regulation Act 2019
Every registered charity (even small charities) must now have a written governing instrument and the Attorney General must give prior written consent to any amendment to the written instrument (unless it is a foreign charity).