06/28/2019
Another European fund manager runs into concerns over liquidity
H2O’s sideline in lending to smaller businesses has alarmed investors
Legal, Regulation & Compliance
06/28/2019
European regulators urged to remove transaction-level reporting for ETDs under EMIR
FIA has said firms should be required to submit position reports for ETDs under EMIR, rather than transaction-level details.
06/28/2019
Why diverse markets need diverse talent - speech by Andrew Hauser
Given at Next Step FX: Promoting Career Opportunities for Women in Foreign Exchange, London on 27 June 2019.
06/28/2019
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06/28/2019
Switzerland to Tighten its Anti-Money Laundering Rules
The proposed policy update follows the recommendations of the Financial Action Task Force, a global anti-money laundering watchdog.
06/28/2019
The German Tax-Dodge Probe That’s Roiling Banks
The trades exploited an interpretation of the tax code that appeared, at the time, to let multiple people claim ownership of the same shares of stock and—crucially—the right to a refund of taxes withheld from dividends.
06/28/2019
United States: US and French Authorities reach agreement on creditability of French CSG and CRDS taxes
US taxpayers that are subject to CSG and CRDS taxes should discuss this development with their tax advisors.
06/27/2019
Berlin Museums appeal to U.S. Supreme Court in legal battle over Nazi-looted $276 million treasure.
The treasures resided in the cathedral in Brunswick until 1671, when the suite was acquired by the House of Guelph—a royal dynasty whose descendants include such figures as Britain’s Queen Elizabeth II.
06/27/2019
Banks in Britain revive preparations for no-deal Brexit
Banks, insurers and asset managers had prepared for a March 31 Brexit but departure was delayed to October 31
06/27/2019
Ireland’s Central Bank Fines JPMorgan €1.6 Million for Outsourcing Violations
The Central Bank determined that the appropriate fine was €2,286,000, which was reduced by 30% in accordance with the settlement discount scheme provided for in the Central Bank’s Administrative Sanctions Procedure.
06/26/2019
Banca Intermobiliare to distribute Decalia AM's funds in Italy
The newly-signed distribution agreement appoints Banca Intermobiliare as distributor of the Decalia Sicav in Italy (through the MFEX platform) and includes Decalia's sub-funds in the range of products available to Banca Intermobiliare private bankers
06/26/2019
US regulators ask Deutsche Bank to clarify its "bad bank" proposal
The overhaul would also include shrinking or shutting equity and rates trading businesses outside of Europe, a source told Reuters.
06/26/2019
Munich Re partners with GIC to help insurers recover quickly after major catastrophes
Munich Re’s analytics solution can processes GIC’s advanced aerial imagery with machine learning models to help both before and after a hurricane.
06/26/2019
Bank of England to open balance sheet to new payment providers
Carney, during a speech at the Lord Mayor’s Banquet for Bankers and Merchants in London, said that competitors will get access to the same resources as incumbents and at the same time will hold the same risks to the same standards.
06/26/2019
European Authorities Arrest 6 for €24m Bitcoin Theft, Money Laundering
The individuals stole bitcoins from at least 4,000 people by spoofing the website of a legitimate cryptocurrency exchange and gaining access to the crypto-wallets of its users who believed they were on logging into their accounts, they said.
06/26/2019
Ogier Global acts on purchase of Crewe Toll
Ogier Global have recent experience with a number of major real estate transactions for Korean investors and have developed a comprehensive understanding of Korean structuring requirements.
06/26/2019
Ex-UBS compliance officer found guilty of insider trading
Jury finds Fabiana Abdel-Malek and Walid Choucair guilty on three charges; deliberations continue on two other charges
06/26/2019
'Perfect storm' blamed for scandals like London Capital Finance
Randell defended the FCA’s record
06/25/2019
Obligatory registration of UBO’s in the Netherlands from 2020: an overview of the proposal
The data will be centralised in a ‘UBO register.
06/25/2019
Money laundering and terrorist financing controls in overseas jurisdictions – advisory notice
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs 2017) require the UK regulated sector to apply enhanced customer due diligence to high-risk countries.