08/23/2019
Qatar-controlled bank investigated by UK over money laundering
Al Rayan has come under scrutiny after it was revealed some clients have links to terror and extremist groups, including the Muslim Brotherhood and Hamas
Legal, Regulation & Compliance
08/23/2019
Brussels eyes €100B wealth fund for ‘European champions’
Brussels gets serious about protecting its businesses against the likes of Apple and Alibaba.
08/23/2019
CMA orders RBS and Santander to fix PPI breaches
The CMA has today taken action against RBS and Santander after they failed to send, or sent inaccurate, annual PPI reminders.
08/23/2019
Global law firm's private client practice taken over
David Tait, Managing Partner for Clyde & Co Scotland said: "Gillespie Macandrew is an excellent fit for Nikki and her team and allows them to carry on providing high quality private client work for their clients."
08/23/2019
Luxembourg: Draft law to implement ATAD 2 released
The draft law largely follows the wording of the ATAD 2, but also addresses concerns raised by the marketplace and provides useful additional clarifications and examples in the commentary.
08/23/2019
FCA warns on 'unacceptable' advertising by CMCs
‘Firms should also understand that we will take their compliance with our rules on financial promotions into account when considering applications for full authorisation.’
08/22/2019
Fund rebates ruling against Hargreaves pits HMRC against FCA
The ‘alphabet soup’ of superclean share classes set to continue under court decision
08/22/2019
Danish regulator prepares report for police on Danske overcharging
The FSA said in June it was investigating the bank for failing to inform customers that it expected a poor performance from its Flexinvest Fri investment product, and for continuing to sell it to new customers.
08/22/2019
Norway watchdog finds DNB failed to comply with anti-money laundering rules
The FSA found improvements had been made since an earlier review in 2016 by DNB, the Nordic region’s biggest bank by market value, but said the lender still had significant shortcomings and had taken too long to start to rectify earlier problems.
08/22/2019
Barclays current account customers hit by most internet banking incidents
Rules require banks to report incidents to the regulator if they meet certain criteria
08/22/2019
Warning over fraudsters targeting SVS clients
Now clients of SVS have been warned a fraudulent letter is circulating claiming to be from the company's special administrators.
08/22/2019
Maltese regulator to limit CFDs harm to retail investors
After Esma’s temporary restrictions on sale of contracts for difference
08/22/2019
Invesco faces £5m court battle with Dutch platform provider
Invesco and Dutch platform business Ohpen have been referred to mediation in a last ditch attempt to avert a £5 million law suit.
08/22/2019
ECB revises supervisory expectations for prudential provisioning for new non-performing loans to account for new EU regulation
All other aspects, including specific circumstances, which may make prudential provisioning expectations inappropriate for a specific portfolio/exposure, remain as described in the Addendum.
08/21/2019
Rabobank to Stop Working with Football Clubs over Money Laundering Fears: Report
Rabobank refused to respond to the newspaper's questions about individual clubs.
08/21/2019
Brexit - 31 October 2019 Free movement at a cliff edge.
The UK’s border’s won’t close on 1 November, because European citizens will still be able to enter the UK without a visa for up to three months
08/21/2019
Brexit and EEA citizens – how to stay in the UK
The Scheme should run in tandem with the existing rules on Permanent Residence until then.
08/21/2019
GDPR one year on: what have we learnt?
GDPR has not gone un-noticed outside Europe, with Brazil, Japan and India all introducing privacy legislation aligned to GDPR, and California became the first US state to introduce a general data privacy law with the California Consumer Privacy Act emergi
08/21/2019
Chancellor accelerates Brexit preparations for businesses
Chancellor announces new plans to help businesses that trade with Europe prepare for October 31
08/21/2019
Luxembourg Publishes Draft Law on DAC 6
This directive is the latest effort by the EU to increase tax transparency and information exchange.