04/02/2019
Draghi says Sinn Féin Bill ‘could undermine financial stability’
Bill designed to protect homeowners is ‘no get-out-of-jail-free card’, says Pearse Doherty
Legal, Regulation & Compliance
04/02/2019
EU, Singapore Adopt Decision to Mutual Recognise Derivatives Venues
“The decisions adopted today will strengthen cross-border trading, enabling businesses in the EU and Singapore to access deeper pools of liquidity and hedge risks more efficiently,” said MAS Chairman Tharman Shanmugaratnam.
04/02/2019
UK watchdog to investigate handling of London Capital & Finance failure
The Board decided that the FCA should ask the Treasury to use its formal powers to direct the FCA to commission this review
04/02/2019
IBA completes transition of LIBOR to the waterfall methodology
Users of LIBOR should not rely on the continued publication of any LIBOR settings when developing transition or fall back plans.
04/02/2019
PROD: The rules you can’t ignore
Abbie Knight highlights why product governance rules introduced under MiFID II are so important for advisers
04/02/2019
The future of money and payments by Agustín Carstens, BIS
The BIS archives contain an interesting exchange of letters between Dr Whitaker and the then BIS Chairman.
04/02/2019
R&Q gets Irish regulatory approval for Coffey Western Captive deal
Ken Randall, chairman and CEO of R&Q, had previously suggested that a continued soft market, capital pressures from Solvency II and challenges from Brexit and BEPS are providing more opportunities for R&Q to provide either complete finality or par
04/02/2019
Employers & brexit: dealing with UK citizenship
James Hockin and Alice Garside set out some advice for employers navigating current UK immigration processes with their staff.
04/02/2019
MiFID cost disclosure deadline represents a ‘stark reality
This will represent a challenge, as the Financial Conduct Authority has not provided a template for firms to work from.
04/02/2019
A Pension Scheme Trustee Owes No Fiduciary Duty to the Scheme's Sponsoring Employer
The Court rejected all the allegations made against them.
04/02/2019
Fake German heiress laughs with her attorney during her fraud trial as it's revealed a married banker 'sent her dozens of flirty texts'
During the 28-year-old's trial on Monday, her defense attorneys told the court that a banker at the private equity fund Fortress sent Sorokin 158 texts when she was trying to secure the loan.
04/02/2019
FCA warns of high-risk Isas
The FCA warned: "Anyone considering investing in an Ifisa should carefully consider where their money is being invested before purchasing an Ifisa."
04/02/2019
EU says part of UK tax scheme was illegal aid for multinationals
The rules allow UK tax authorities to allocate all profits artificially diverted to an offshore subsidiary back to the UK parent company.
04/02/2019
British Virgin Islands: A Solution To An Unusual Predicament
The BVI Commercial Court held that the scheme of the Business Companies Act was to require three conditions to be satisfied before a company discontinuing under the Act ceased to be a company incor
04/02/2019
UK anti-tax avoidance scheme broke state aid rules, says EU
The Commission found that the scheme was “partly justified” and did not constitute state aid as it ensured the “proper functioning and effectiveness of the relevant tax rules”.
04/01/2019
Guernsey to the rescue for in-deficit pension schemes
Defined benefit pension schemes are exposed to longevity risk as they guarantee lifetime benefits for members.
04/01/2019
Australian banks have fingers crossed for a Brexit delay
ANZ Banking Group is relying on existing European branches and licences.
04/01/2019
UK’s top fraud prosecutor backs U.S.-style plea bargaining deals
Retailer Tesco and aero-engines group Rolls-Royce agreed DPAs with the SFO in 2017
04/01/2019
Guernsey reopens investment talks with EIF
The EIF is a specialist provider of risk finance for small and medium-sized enterprises across Europe, backed by the European Investment Bank, European Union and a range of public and private banks and finance institutions.
04/01/2019
Ogier's Guernsey team advises Baillie Gifford on US$477 million Schiehallion launch
The team – which included associate Gabrielle Saul – advised alongside accountants and auditors KPMG, administrators Alter Domus and onshore lead counsel Herbert Smith Freehills LLP.