04/30/2019
Swiss Re to manage Freedom remediation
Under the agreement, Swiss Re, AIA Australia and NobleOak will end Freedom's product development and distribution, and its policy administration agreements.
Legal, Regulation & Compliance
04/30/2019
FSCS announces its final levy for 2019/20 at £532m
The main reasons for the relatively small increase (£16m) between the forecast levy and the final levy are an uplift in the number of claims expected against SIPP operators and an upwards revision to the expected continuing costs in some historic in
04/30/2019
Brussels vows to pursue probe into Danske Bank
Commission angered by European Banking Authority’s decision to reject own findings
04/30/2019
Thousands of Brits affected by Malta’s pension regulation overhaul
The tougher regulations further enhance client protections, as it is no longer enough for the financial adviser to only be licensed.
04/30/2019
Media partnership with LGBT Great
The collaboration will promote and critically assess LGBT+ inclusion through the distribution of exclusive research content and benchmarking objectives.
04/30/2019
Estera Comes Under One Roof in Guernsey
The move to the 17,600 sq ft offices at Trafalgar Court in St Peter Port, brings together the 100 members of the Guernsey team under one roof.
04/30/2019
KPMG fined £6m and ‘severely reprimanded’ over audit
The Tribunal also made costs orders against all of the Respondents.
04/30/2019
FCA sets out progress and next steps in promoting innovation in financial services
We have also published a number of announcements
04/30/2019
Current vulnerabilities in the global financial system
The report, which includes a discussion of approaches and mechanisms that may enhance the effectiveness and efficiency of international cooperation, will be published and submitted to the June meeting of G20 Finance Ministers and Central Bank Governors.
04/30/2019
FSB publishes peer review on bank resolution planning
The peer review evaluates the implementation by FSB jurisdictions of the resolution planning standard as set out in the Key Attributes and in associated guidance.
04/30/2019
Central Bank slaps €1.24m fine on Canadian banking unit
The regulator said the previous enforcement action was "an aggravating factor" in this case.
04/30/2019
Trump Family Sues Deutsche Bank To Keep Financial Records Secret
The bank hasn’t yet handed over any client-related records to the House committees and will wait for the outcome of the legal proceedings, said the person, asking not to be identified in disclosing internal information.
04/30/2019
Guidance on Guernsey's economic substance requirements published
The Code of Conduct Group were then instructed by the EU Council to undertake a screening process whereby jurisdictions, including Guernsey, were assessed
04/30/2019
The “Troika Laundromat Fraud”: Exposing the weaknesses in UK’s Anti-Money Laundering regime
This chink in the UK’s anti-money laundering armour has the potential to have a detrimental impact on the effectiveness of regulated persons’ customer due diligence capabilities, and therefore on the effectiveness of the UK’s AML regime
04/30/2019
Money Laundering and the Regulations: When to Report ‘Suspicious Activity’
Where a suspicion does arise, a report to the National Crime Agency may be necessary to obtain a defence before handling such property or becoming concerned in such arrangements.
04/30/2019
Danske Bank cuts view, reveals tons of lawsuits
The Estonia case continues to require considerable management attention, including the ongoing investigations and our efforts to restore trust in us.
04/29/2019
RBS Probes Coutts and ABN Amro Payments for Russian Money Laundering
“RBS is investigating these reports, and in particular whether the relevant business unit of ABN Amro was part of the business acquired by RBS in 2007,” the banking group said in the Q1 results, which also cited income growth uncertainty linke
04/29/2019
Money laundering officer talks of huge emotional strain caused by 16-month long criminal investigation
Mr Still said after this morning’s proceedings that the 16-month investigation and build-up to the trial had naturally led to a huge amount of psychological and emotional strain for him, his family, and colleagues, the likes of which they never expe
04/29/2019
Scott+Scott Expands International Footprint
Scott+Scott has been a trusted partner to Michelin for many years and we know the quality, experience and integrity that they bring to private enforcement cases, said Jerome Cloarec, Head of Global Antitrust for Michelin Group.
04/29/2019
Guernsey Green Finance keen to develop green insurance
Mike Johns, Chairman of GIIA, said: “We do not believe that policyholders should be exposed to unnecessary risk so that the insurer may pursue green and sustainable initiatives.