11/26/2018
Implementation of Basel standards
The Basel Committee plans to complete its review of the implementation of the NSFR and the LEX framework for most member jurisdictions by end-2020.
Legal, Regulation & Compliance
11/26/2018
Ex-IMF chief Rato in dock again in major Bankia trial
The 69-year-old Rato, head of the bank at the time, is accused of falsifying the books and fraud to the detriment of investors.
11/26/2018
Brexit: May gives way over Gibraltar after Spain's 'veto' threat
Spanish prime minister had demanded written assurance as price of support for withdrawal agreement
11/26/2018
Immigration minister under pressure as lawyers fight to bring ex-UBS trader and convicted fraudster back to Britain
Mr Adoboli, who was born in Ghana but has not lived there since the age of four, was sentenced to seven years in jail in 2012 after being convicted of Britain’s biggest fraud which saw him lose UBS $2.3bn (£1.8bn).
11/26/2018
No vulture fund or bank has ever been sanctioned for breaching the code of conduct
The Central Bank said no sanctions have been put in place since the code’s commencement in 2009.
11/26/2018
Europe's Dirty Money Machine Is a Lot Bigger Than First Thought
The head of the Danish regulator, Jesper Berg, told Bloomberg that Danske employees seem to have made little effort to disguise the identity of clients behind the suspicious transactions, meaning correspondent banks should have had some idea of what they
11/26/2018
Business groups give their verdict on EU rubber-stamped Brexit deal
After 18 months of wrangling, Theresa May has finally won approval for her withdrawal deal from the EU's 27 leaders.
11/26/2018
Percival warns advisers not meeting FCA rules
Mr Percival said when clients answered questions about capacity for loss, their answers often spoke about attitude to risk rather than addressing the question at hand.
11/26/2018
Jersey confirms beneficial ownership policy
Stringent requirements for the incorporation of Jersey companies, together with regulation and supervision of trust and company service providers, ensure this information is accurate and current.
11/26/2018
City watchdog steps up its inquiries into ‘crypto’ firms
Bitcoin is the best-known of dozens of virtual currencies that have captured the imagination of millions of ordinary people.
11/26/2018
UBS refuses to pay ex-trader’s £500,000 Libor bill
The June ruling criticised the City watchdog’s decision to go after Mr Hussein and not some of his more senior managers, giving Mr Hussein fresh hope.
11/26/2018
Trustee Investment Duties: All Change Or More Of The Same?
Whatever the answer to that question, and for more on that see below, trustees need to be thinking about the action they are going to take.
11/26/2018
British law firms target Irish mergers due to Brexit
Paul Wyse, Smith & Williamson Professional Services managing director, said that the lack of Brexit contingency planning indicated the Irish legal industry is not prepared for the impact Brexit will have on its business.
11/26/2018
Jersey, Guernsey and IOM sign customs arrangement with UK
The two essential elements of establishing a customs union are that the parties agree not to impose import tariffs for goods passing between themselves, and to impose a common external tariff on goods from places outside the customs union.
11/26/2018
Guernsey courts endorsed for “big ticket” disputes
Mr Kosky praised the Guernsey courts for a “virtually paperless” trial and a judgment made within nine months of the hearing concluded, particularly, he said, when Guernsey had little track record of litigation of such a size.
11/26/2018
Trustee Investment Duties: All Change or More of the Same?
In 2014, the Law Commission suggested some clarificatory amendments to the Investment Regulations[1] as part of the review but the Government did not find a compelling case for legislation at that time.
11/23/2018
‘London’s finest finance broker’ jailed after glassing banking rival in the face at boozy corporate bash
The victim was left needing stitches for a deep, ragged cut across his face after the incident at a pub in the Channel Islands.
11/23/2018
Gibraltar insurers to lose passporting rights
That said, those companies that do write business in the other 27 EU countries will have to make contingency plans or cease to underwrite this business, the agency warned.
11/23/2018
Guernsey courts endorsed for “big ticket” disputes
Mr Kosky praised the Guernsey courts for a “virtually paperless” trial and a judgment made within nine months of the hearing concluded, particularly, he said, when Guernsey had little track record of litigation of such a size.
11/23/2018
Montenegro agrees citizenship by investment plan
The country will start accepting applications on 1 January 2019 and visa will last for three years