07/25/2019
European Commission calls for better implementation of rules on money laundering and terrorist financing
Fight against money laundering and terrorist financing: Commission assesses risks and calls for better implementation of the rules
Legal, Regulation & Compliance
07/25/2019
PSR publishes detailed research into how people and business access cash
It is important that everybody in the UK can choose how they make their payments, in a way that works best for them.
07/25/2019
EBA opinion on the relevance of ML/TF concerns to prudential supervision
Money laundering and terrorist financing (ML/TF) can have a significant, adverse impact on an institution's safety and soundness.
07/25/2019
Football added to EU money-laundering risk list
Freeports among concerns as Brussels admits weaknesses in fight against illegal flows
07/25/2019
Facebook to Pay $100 Million for Misleading Investors About the Risks It Faced From Misuse of User Data
Facebook has agreed to pay $100 million to settle the charges.
07/25/2019
Navigating Economic Substance
The requirement to show Economic Substance is primarily aimed at preventing what is called “base erosion and profit shifting”.
07/25/2019
Cyprus: Financial Action Task Force Guidance on Risk-based Approach for Trust and Company Service Providers
The Guidance is aimed at TCSP practitioners, countries and their competent authorities
07/24/2019
Former HMRC employee among brothers sentenced for money laundering
Efzal Yaqoob laundered £21,630 of the stolen VAT through his personal bank account between July 2012 and August 2014.
07/24/2019
FCA 'Dear CEO' letter
The letter sets out the FCA's view of the key risks of harm that such firms pose to their customers
07/24/2019
BCBS and IOSCO extension
The Basel Committee and IOSCO expect that covered entities will act diligently to comply with the requirements
07/24/2019
Final implementation of the new EU Prospectus Regulation
The Regulation has direct effect in the UK (and all other member states).
07/24/2019
Central Bank Thematic Review of Closet Indexing
The Central Bank has completed specific follow up engagements with an initial group of 62 funds
07/24/2019
OCC Fines Ex-Rabobank Counsel $50,000 for Concealing AML Report
On February 7, 2018, the Bank pled guilty to conspiracy
07/24/2019
Deutsche Bank 'committed to cooperating' with investigators after reportedly flagging Jeffrey Epstein transactions
The bank attempted to close several dozen bank accounts for Epstein and his businesses while simultaneously looking for signs that he had used his money to finance sex trafficking schemes, which prosecutors allege involved underage girls, according to rep
07/24/2019
Transatlantic law firm boosts presence in Leeds with acquisition
This recruitment news follows on from expansion in the firm's IP offering
07/24/2019
Government to set up standards committee to scrutinise HMRC powers
HMRC is to be put under greater scrutiny, with a new professional standards committee to oversee its use of wide-ranging powers to tackle tax avoidance and evasion
07/24/2019
German Regulator Greenlights $280 Million Ethereum Real Estate Bond
German authorities also showed openness towards blockchain and cryptocurrency.
07/24/2019
Update on the Isle of Man Personal Injury Discount Rate
Despite the 2017 change in England and Wales, no change was made to the discount rate in so far as it applied to Isle of Man cases.
07/24/2019
European banks, states have serious dirty-money shortcomings- EU Commission
The review also included lenders that have been shut because of money-laundering issues
07/23/2019
Lloyds and Standard Life Aberdeen to settle £100bn funds row
Lloyds and Standard Life Aberdeen to settle £100bn funds row