04/01/2020
Standard Chartered Fined for Violating Russia Sanctions
The bank identified and reported the alleged sanctions violations to authorities and took remedial steps following the breach, Standard Chartered said in a statement Tuesday.
Legal, Regulation & Compliance
04/01/2020
Regulation: For AML, fintech is both problem and answer
The UK’s Financial Conduct Authority is particularly enthusiastic about using technology to fight money laundering.
04/01/2020
Luxembourg regulator suspends Rothschild ex-CEO for ten years
The bank said in its 2017 annual report that it had paid the fine after the CSSF had notified it of a possible fraud involving former Malaysia Prime Minister Najib Razak’s 1MDB investment fund.
04/01/2020
UniCredit says top managers to forego entire 2020 bonus pay
Both UniCredit and Intesa this week put on hold dividend payments to comply with regulatory calls to preserve capital.
04/01/2020
Fighting Fraud and Corruption Locally
This strategy is an important step in helping councils share and co-ordinate their response to fraud, as only by working together and continuing to innovate can we begin to take positive action against the fraud and corruption that is so corrosive to soci
04/01/2020
Intertrust in Sweden announces collaboration with Altor Fund Manager
Altor has leading international institutional investors that have committed a total of EUR 8.3 billion to all Altor Funds.
04/01/2020
Launch of Strategic Capacity Scheme
The Isle of Man Government will be offering a tiered range of financial support, based on average revenue per room and occupancy rates
04/01/2020
Treasury Minister Provides Update on Measures Being Taken to Protect Manx Economy
Minister Cannan said: ‘Since I spoke a week ago today, events have happened at a rapid speed and we have, to all intents and purposes, closed down large parts of our domestic economy.
04/01/2020
Guernsey legal and regulatory update
Guernsey's Revenue Service has introduced an online service for companies completing and submitting their corporate tax returns.
04/01/2020
Pension investment advisor banned
Wolverhampton financial advisor has been banned for 8 years after firm provided poor pension investment advice resulting in clients losing £7 million
04/01/2020
Working Through the Lockdown
In both social and business environments this is a community event being faced as a community.
04/01/2020
Government change to inflation measure set to reduce lifetime pension income by up to 21%
A 65 year old pensioner in 2020 could receive up to 21% less per year in a DB pension by the age of 90
04/01/2020
COVID-19: FCA updates webpages on short selling bans, SCA, and information for firms
The International Association of Insurance Supervisors (IAIS) has published the March edition of its newsletter.
04/01/2020
Weekly Tax Brief
HMRC is to extend the soft-landing period granted under Making Tax Digital for VAT, giving businesses until April 2021 to ensure a clear digital audit trail is in place throughout their VAT return process.
04/01/2020
Banks around the world are suspending loan repayments as coronavirus hits borrowers
Small and medium-sized firms can defer principal payments on secured term loans also up to the end of the year.
04/01/2020
Regulatory measures for firms in response to Covid-19
The PRA welcomes the decisions by the boards of the large UK banks to suspend dividends
03/31/2020
Regulator permits three-month pension transfer freeze
Some schemes may have also experienced an increase in demand for CETV calculations which would place additional strain on administration teams.
03/31/2020
UK banks expect regulator to order dividend freeze
Action likely this week to shore up lenders’ capital levels for coronavirus outbreak
03/31/2020
Watchdog puts brakes on FNZ and GBST merger
The number of companies involved in back-office platform technology is small
03/31/2020
ECB wants to parade the banks for the bonuses
Already at the end of last week, the ECB, under its supervision, ordered the 117 major European banks to freeze dividends and share buybacks until at least October.