12/17/2019
FCA fines PPC for misleading consumers and banks in first CMC case closed by the regulator
PPC also failed to present accurate, fully formed, detailed and specific complaints to banks.
Legal, Regulation & Compliance
12/17/2019
FCA secures confiscation order totalling £5 million against illegal money lender
This follows the FCA’s prosecution in which Mr Gopee was convicted of illegal money lending and sentenced to 3 and a half years in prison.
12/17/2019
CSSF guidance on persons involved in AML/CFT for Luxembourg regulated funds and investment fund managers
This article of the law requires the appointment of two AML/CFT functions
12/17/2019
EU to roll out sanctions against blacklisted jurisdictions
The Finnish presidency confirmed that the four sanctions have been approved by EU member countries and will be automatically agreed to at the opening of the Council of Ministers meeting.
12/17/2019
The CSDR Journey
Track the Central Securities Depository Regulation timeline so far to assist your preparation for what’s next.
12/16/2019
ESMA report on AMPs under MAR
MAR’s purpose is to guarantee the integrity of European financial markets and promote investor confidence.
12/16/2019
ESMA Provides Information on Pending Applications for Benchmark Administrators
This newly published information will complement that already info included in the register of administrators and benchmarks.
12/16/2019
IOSCO launches framework for monitoring leverage in funds that may pose stability risks
The recommendations aim to achieve a balance between precise leverage measures and simple, robust metrics that regulators can apply consistently to the wide range of funds offered in different jurisdictions.
12/16/2019
Tax fraudsters to pay £20m over fake eco-investments
The taxman expects the men may have to cash in pensions and sell properties in both the UK and Dubai to settle the tax bills.
12/16/2019
Launch of the consolidated Basel Framework
The publication of the standards in a new format focused on reorganising existing requirements, not introducing new requirements or otherwise amending the standards previously agreed and published by the Basel Committee.
12/16/2019
STEP success for Mourant Governance Services Counsel
Jamie said: "Achieving full STEP membership has deepened my knowledge of trust and private client work, further enabling me to provide counsel on a broad range of legal and administrative matters.
12/16/2019
The growing buzz around cannabis investment… and the unintended consequences
For Guernsey companies in particular, these developments present exciting new opportunities.
12/16/2019
Adviser bodies call for 'smarter' regulation
I hope now that the prime minister has a clear mandate on Brexit
12/16/2019
Alan Shearer scores £100k payout from 'negligent' pension adviser
Former England and Newcastle football star Alan Shearer has scored a £100,000 pay out after a court ruled that his financial adviser had given him ‘negligent’ pensions advice.
12/15/2019
FCA policy statement on Investment Platforms Market Study remedies
The new rules will come into force on 31 July 2020.
12/15/2019
FCA response to the Cranston Review
These failings need to be addressed by LBG quickly.
12/15/2019
UK banks accused of being 'involved in multi-billion pound Russian money-laundering scam'
The documents detail around 70,000 transactions, including 1,920 totalling nearly £600 million that went through UK banks and 373 through US banks, the newspaper said.
12/15/2019
Commission report on FinTech regulation, innovation, and finance
The group's 30 recommendations are pertaining to the innovative use of technology in finance, maintaining a level playing field, access to data, and the financial inclusion and ethical use of data.
12/15/2019
Dolphin Trust threatened with foreclosure over payouts
The move follows the failure of Dolphin Trust, now German Property Group, to meet an interest payment due last week.
12/13/2019
Herbert Smith Freehills launches major new trust companies survey
The survey should take between 5-7 minutes to complete and your answers will be anonymous.