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.
Legal, Regulation & Compliance
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.
10/24/2019
Swedbank Says It’s Being Investigated by ECB, U.S. Authorities
It’s now being investigated in Sweden, Estonia and the U.S. amid allegations it may have handled over $100 billion in potentially suspicious transactions, mostly from the former Soviet Union.
10/24/2019
Vatican financial regulator denies wrongdoing in London property buy
In its first public comment since the raid on its offices on Oct. 1, when police seized documents and computers, AIF said it had carried out an internal investigation and confirmed confidence in its director, Tommaso di Ruzza, who was suspended after the
10/24/2019
Schroders to take over as manager of Woodford investment trust
Neil Woodford resigned from eponymous investment vehicle earlier this month
10/24/2019
Bank-grade ID company Fractal partners with Philippine-based investment platform Seedbox, providing bankless access to mutual funds
The Berlin and Singapore-based identification management company signs an agreement with Seedbox to put the effort in driving financial inclusion in Southeast Asia, starting with the Philippines