10/28/2019
EY: Gold, drug money and a major auditor's 'cover-up'
The following year the accountancy firm EY, formerly known as Ernst and Young, had been asked to conduct a review of Kaloti's compliance
Legal, Regulation & Compliance
10/28/2019
BlueCrest Capital hedge fund sues two traders, accusing them of lying to get big bonuses
The company says it paid bonuses of £230,788 to the two equities traders that month and allocated £3.5m of deferred bonuses to them the following month, most of which they drew in April.
10/28/2019
Vatican bank chief says latest scandals are true proof of reform
While all that may make it tough to assess the latest round of purported scoops and stern denials, what’s becoming clear, at least, are the dueling narratives at work.
10/28/2019
Nordea Managers of $350 Billion Shielded From Deep Job Cuts
The head of Nordea’s wealth unit, Snorre Storset, says a plan to cut jobs across the organization won’t affect portfolio managers in his unit.
10/27/2019
Whose money is it, anyway (and will I get sued if I get the answer wrong)?
GCEN refused to return the £100,000 to Osage and applied to the Court for directions as to where it should pay the monies.
10/27/2019
FCA new webpage on Cryptoassets: AML/CTF regime
The MLRs apply to businesses in a range of sectors at risk of facilitating money laundering or terrorist financing
10/25/2019
Andersen Global Announces Agreement in Slovenia
They work closely with several other firms in the region who will also be joining our organization.
10/25/2019
Brits want IHT nil rate band doubled
Politically ‘it would certainly be seen as a positive step by the majority of people’
10/25/2019
Credit union meets robot - speech by Sam Woods
The PRA also suggests simplifying the regulatory regime for credit unions by eliminating other capital requirements thresholds linked to nonasset metrics.
10/25/2019
EBA opinion on disclosure to customers buying financial services through digital channels
The EBA’s competence to deliver this opinion is based on Article 34(1) of Regulation (EU) No 1093/2010
10/25/2019
£1 billion deal set to solve poor mobile coverage
New plans for all operators to share phone masts to improve UK coverage is a world first
10/25/2019
FATF guidance on Beneficial Ownership for Legal Persons
The report also makes recommendations on how to ensure authorities can access information on beneficial ownership of overseas entities.
10/25/2019
Freshfields resorts to fining its naughty partners
"We want to ensure that positive behaviour is consistently valued and that inappropriate behaviour is called out and acted upon"
10/25/2019
Slater and Gordon to make over 100 UK staff redundant
Since 2017, it has closed offices in Chester, Wrexham, Milton Keynes and Preston, and most recently it shut down Leeds with the loss of 25 fee-earners.
10/25/2019
Employers, Brexit and the right to work: Are you prepared?
This is an important moment to look at your options and ensure that you are compliant with right to work obligations to avoid disruption for your employees and for your businesses.
10/25/2019
Politics Is More Worrying Than Brexit For Britain’s Wealthy
A general election can have several different outcomes for U.K. millionaires.
10/25/2019
FINRA Fines BNP Paribas Securities Corp. and BNP Paribas Prime Brokerage, Inc. $15 Million for AML Program and Supervisory Failures
This matter arose out of firm examinations conducted by FINRA’s Department of Member Supervision and referred to Enforcement.
10/25/2019
Amendment to new France-Luxembourg treaty clarifies elimination of double taxation
For Luxembourg tax residents, there would be no change and foreign employment income would continue to be exempt with progression
10/25/2019
UK’s biggest payday lender collapses
The Financial Conduct Authority has started at least to try and get a grip on this sector.
10/25/2019
AXA sells Belgian Bank and strikes new insurance distribution deal
Combining this with the transfer of Crelan’s insurance business to AXA, our leadership position in our preferred segments in Belgium will be further reinforced.