05/27/2019
FCA TPR notification window extended
It will also allow EEA-domiciled investment funds that market in the UK under a passport to continue temporarily marketing in the UK.
Legal, Regulation & Compliance
05/24/2019
Mifid rules highlight the costs of investing
Wealth managers now required to produce annual fee statements
05/24/2019
Liz Field: What does the future hold for regulation?
The UK has contributed to and defined a great percentage of this over the past 40-odd years
05/24/2019
FCA finds "significant shortcomings" in review of principal firms
Our review identified significant shortcomings in principal firms’ understanding of their regulatory responsibilities for their ARs.
05/23/2019
Gresham House and AXA IM team up for forestry fund
The firm did not disclose how much the portfolio was worth but the Society of Chartered Surveyors Ireland found the average hectare of forest changed hands for €9,838 (£8,623) in 2016, making the portfolio worth a potential €40 million: al
05/23/2019
Money Laundering Deterrence in Europe: Time to Get Serious
The Egmont Group has grown to a large international organisation of 159 financial intelligence units, representing the operational arm of AML/CFT deterrence to complement the strategic arm of the FATF.
05/23/2019
German regulator orders online bank N26 to step up controls against money laundering
On Wednesday, BaFin said N26 must take measures including reidentifying some existing customers, catching up on a backlog of IT monitoring and documenting workflows.
05/23/2019
FCA review of principal firms in the investment management sector
FCA wins case against unauthorised forex firm
05/23/2019
Investigation into London Capital & Finance launched
An investigation into the circumstances surrounding the collapse of the investment firm and the Financial Conduct Authority’s supervision of the firm
05/23/2019
Philip Green to close 23 stores with over 500 job losses
Sir Philip Green’s wife and ultimate owner of Arcadia will also inject a further £50m of equity into the business making a total of £100m that she has loaned the company.
05/23/2019
EU high court rejects compensation bid on Greek bond losses
The Luxembourg-based court said there wasn't evidence the ECB, which advised Greece on the deal, committed "a sufficiently serious breach" of European Union law.
05/22/2019
ECB speech on the future of global financial regulation
Mr de Guindos discusses the following three areas in which he believes further efforts are required
05/22/2019
LIBOR transition: Practical points for asset managers
Alternative risk free rates measure overnight borrowing costs in either unsecured or secured financial markets.
05/22/2019
Harlequin advice comes to haunt adviser
These benefits arose because the scheme had been converted from a defined benefit to a defined contribution scheme.
05/22/2019
Gibraltar-based insurer files for liquidation
The GFSC said that policyholders should be aware that whilst their policies are still valid, the firm is "not in a position to pay claims".
05/22/2019
UBS Is Poised to Settle Tax Case With Italy for $110 Million
Rival Credit Suisse Group AG in 2016 agreed to pay 109.5 million euros to Italian authorities investigating the bank’s past use of insurance policies, allegedly to help clients evade taxes.
05/22/2019
Legal bid to save British Steel with disputed £30m insurance claim usurped by insolvency
British Steel had sought further damages from the insurers to compensate for their slow response and incomplete investigation of the claim.
05/22/2019
FCA wins case against unauthorised investment firm
The scheme took in at least £1m from investors, but in reality the money was used to fund a Mayfair office, brokers' wages and Mr Chitty's personal spending.
05/21/2019
France considers pulling out of Fatca
Move dependent on negotiations to avoid double taxation for French American citizens
05/21/2019
Crypto scams bite UK
The FCA said fraudsters then contact the victim, aiming to secure more funds and new targets in the form of the victim's friends and family.