01/02/2019
Wine investment scammer ordered to pay back just £22K
Many of the victims never saw any wine at all and others were fobbed off with lower-quality bottles when they complained.
Legal, Regulation & Compliance
01/02/2019
Britons to pay €7 fee for 90-day Schengen access post-Brexit
Etias means that travellers from Britain will be treated in the same way as those from the US and Australia if they wish to make a short journey across the Channel.
01/02/2019
The euro is the most dysfunctional currency ever created
In fact, the euro has managed four milestones which most mainstream economists might have previously considered virtually impossible – and the arrival of its third decade is a good moment to pause to record them.
12/28/2018
Bank accused of ‘serious irregularity’ which contributed to Spain’s financial crisis
More than 300,000 investors bought shares for a minimum of €1,000 following a major advertising campaign by Bankia in 2011, assuring customers of its profitability.
12/28/2018
Vatican tribunal hands down first money-laundering verdict
The Vatican cooperated in the investigation after flagging a suspicious transaction in one of Proietti’s Vatican bank accounts in 2013 and seizing 1 million euros.
12/28/2018
Danish Pension Excludes 14 Countries for Human Rights Violations
The 14 countries the pension is excluding from investment are Bahrain, Benin, Burundi, Comoros, Congo, Ethiopia, Iran, Mozambique, Papua New Guinea, Rwanda, Saudi Arabia, Swaziland, Tajikistan, and Thailand.
12/28/2018
Ex Barclays boss John Varley among four of the bank's former executives facing £6bn Qatar corruption trial
It has been claimed the men conspired to illegally lend money to Qatari investors, who then used it to buy Barclays shares that propped up the bank during the financial crisis.
12/28/2018
HMRC announces top 10 prosecutions of 2018
Smugglers, potential arms dealers and globe-trotting tax fugitives all feature in HM Revenue and Customs' top 10 criminal cases of 2018.
12/27/2018
Mounting Pressure on Central Banks
The Swiss government doesn't normally comment central bank policy.
12/23/2018
Beneficial ownership register to be made public by 2023
The U.K. chose the year 2023 because it was the date set by a previous government under David Cameron for the worldwide sharing of beneficial ownership information.
12/21/2018
Reducing barriers to entry into the UK banking sector
In this paper, we evaluate the impact the 2013 review by the FSA and the Bank of England has had on reducing the barriers to entry for firms entering the UK banking sector, and the benefits it has generated for consumers.
12/21/2018
PRA and FCA joint statement on reporting of private securitisations
This statement sets out how the Prudential Regulation Authority and Financial Conduct Authority propose to direct the manner in which firms must make information regarding ‘private’ securitisations available to their UK competent authorities.
12/21/2018
Statement on treatment of Gibraltar in our Handbook after Brexit
As part of our Brexit preparations, we will make a rule to preserve the existing Handbook treatment in respect of Gibraltar in the post exit day Handbook.
12/21/2018
BOE statement on equivalence of the future UK legal and supervisory framework for CCPs and CSDs
The Bank of England welcomes the adoption today of temporary equivalence decisions by the European Commission on the future UK legal and supervisory framework for CCPs and CSDs.
12/21/2018
ESMA to renew restrictions on CFDs for a further three months
ESMA has carefully considered the need to extend the intervention measure currently in effect.
12/21/2018
UK Government note clarifies “no deal” and data protection
The note confirms that separate draft regulations and more detailed guidance will be published in the next few weeks but, in the meantime, it clarifies at a high level a number of key issues for organisations both within the UK and outside but doing busin
12/21/2018
BNP Paribas Says It Will Lose Access to Some U.S. Pension Assets
Labor Department had granted firm a temporary waiver in May
12/21/2018
Julius Baer sells its domestic business in the Netherlands
In its strategic push to focus on core markets, Julius Baer has agreed to sell its domestic business in the Netherlands to Wealth Management Partners N.V.
12/21/2018
MUFG subsidiary gains investment firm licence in the Netherlands
According to MUFG, the licence is a major step towards ensuring that MUFG will be in a position to continue to provide securities services
12/21/2018
New mandate strengthens Citi’s ties with Aegon
The existing relationship between Citi and Aegon will be widened to cover Kames Capital’s Ireland and Netherlands depositary services, fund ranges and agency securities lending services, as well as a range of other services currently available.