01/30/2020
For whom the Brexit bell tolls
Good advice, even if its scope is vague – but how helpful is this going to be in practice?
Legal, Regulation & Compliance
01/30/2020
Police investigate "several" Latvian non-resident banks
Police have conducted investigations at various Latvian banks associated with the non-resident banking sector, according to unofficial information reported by Latvian Television (LTV) January 29.
01/30/2020
Danske’s EY Auditors Face Disciplinary Action for Failures
Last year the Business Authority reported to police the local operations of Ernst & Young, which was the external auditor on Danske’s 2014 financial report.
01/30/2020
Banque de France Governor: Fintech now at “core” of financial system
France’s fintech scene has somewhat lagged other European countries in terms of development in recent years but has started to gear up more recently.
01/30/2020
Carey Olsen's Russell Clark named Crown Dependencies lawyer of the year for second consecutive time
Russell, who also heads up the trusts and private wealth practice in Guernsey, was shortlisted for the 2020 award alongside nine other private wealth lawyers from Guernsey, Jersey and the Isle of Man.
01/30/2020
International tax reporting changes: Directive on Administrative Cooperation 6 and the Mandatory Disclosure Rules
The regulations require ‘intermediaries’ and, in some circumstances, taxpayers to report details of cross-border arrangements to HMRC
01/30/2020
BoE shies away from insurance cut and prays for sustainable growth - Fidelity comments
The MPC’s decision took place in a moment of added significance - this is the eve of Brexit.
01/29/2020
Prevention of Money Laundering and Terrorist Financing: Identity of beneficial owners
Professionals should keep records of all actions taken to identify the UBOs under point (i), (ii) or (iii) and they should be ready, when requested, to justify the measures they have taken.
01/29/2020
Russian hackers target African banks
The malicious file is downloaded on to a bank employee’s machine and from their Silence waits and observes.
01/29/2020
Brexit: What's next? What investors expect and the crunch dates
The UK will also no longer be covered by trade deals between the EU and third countries unless these agreements have already been rolled over or new deals have been made.
01/29/2020
ABLV bank raided as part of 50-million-euro money laundering investigation
The prosecutor’s office confirmed that at least 20 authorized searches in Latvia and abroad are being carried out in cooperation with law enforcement agencies of other countries in connection with money laundering of at least EUR 50 million.
01/29/2020
Charities secure exemption from new layer of anti-money-laundering regulation
A technical consultation launched this month, which said: “Charitable trusts are not in scope to register because the risk of these kinds of trusts being used for money laundering or terrorist financing activity is low”.
01/29/2020
SFO Internal Guidance on Evaluating a Compliance Programme
The SFO's Operational Handbook is for internal SFO guidance, does not constitute official guidance to third parties and is published in the interests of transparency.
01/29/2020
Devolution talks underway in Leeds
Talks will begin today (January 29) in Leeds between government ministers and local leaders on a devolution deal for West Yorkshire
01/29/2020
FCA letter to major banks on overdraft pricing
Over the past few days there has been significant comment about many headline overdraft rates, and in particular that major banks have aligned overdraft rates around 40 per cent.
01/28/2020
Drop in HMRC tax fraud investigations
As FOI shows number of raids fell by 23% last year but ‘interpreting the data is not straightforward’
01/28/2020
GAM activist calls for immediate action to re-examine sale
Swiss asset manager has previously dismissed speculation it was in talks about a potential deal
01/28/2020
Bank of China Settles Money Laundering Case for $4 Million
The lender will pay a 3 million-euro fine and 900,000 euros in damages to French tax authorities to put the criminal allegations behind it
01/27/2020
Senior partner bags £1m for lock-in deal extension
The agreement contained non-poaching and non-solicitation restrictive covenants for two years following termination of his employment, and a covenant preventing Rosenblatt from being employed, engaged or interested with any competitive business for 12 mon
01/27/2020
Guernsey Finance “is more relevant than ever”
Mr Wheatley said: “Representing the island and this financial community for the past five years has been among the most rewarding and enjoyable periods of my career.”