02/27/2019
Commission Welcomes Agreement on EU Rules on Covered Bonds
The agreed rules aim to foster the development of covered bonds - financial instruments issued by banks to fund the economy
Legal, Regulation & Compliance
02/27/2019
Santander hit with £91m fines as branch closures loom
The company set aside the money in the 2018 financial year and expects the payouts to happen in 2019 as it continues to review the situation.
02/27/2019
Barclays and Bank of Ireland sued over film finance tax evasion scheme
It said it was not possible to predict the possible aggregate impact of the litigation, but said it “could be significant”.
02/27/2019
EU Parliament and Council reach political agreement on low carbon benchmarks
EU Paris-aligned benchmarks, which have the more ambitious goal to select only components that contribute to attaining the 2°C reduction set out in the Paris climate agreement.
02/26/2019
FCA plans to return £2.5m to UCIS 'land banking' victims
These schemes involved the unlawful selling of plots of land.
02/26/2019
Calls for adviser charges comparison site
The main concern that we have with it is that it enables high charges, with layers and layers of them, which means that funds that are transferred are losing more money than they need to through more expensive charges.
02/26/2019
EBA publishes revised Guidelines on outsourcing arrangements
The recommendation on outsourcing to cloud service providers, published in December 2017, has also been integrated into the Guidelines.
02/26/2019
Andrew Bailey keynote speech on MiFID II at the European Independent Research Providers Association
Speech by Andrew Bailey, Chief Executive of the FCA, on the Markets in Financial Instruments Directive at the European Independent Research Providers Association.
02/26/2019
BoE, FCA and CFTC joint statement on continuity of derivatives trading and clearing post-Brexit
UK and US authorities are taking measures to ensure the UK’s withdrawal from the EU
02/26/2019
Land banking scam victims urged to contact regulator
Of the £32.8m defrauded, only £2.5m has been returned to the watchdog by the firms involved
02/26/2019
Delivering connected thinking
Overall, the impact of globalisation is fairly poorly understood.
02/26/2019
German authorities seize 50 million euros in ‘Russian Laundromat’ investigation
The Russian laundromat is thought to be the one of the world’s largest money laundering operations.
02/26/2019
Switzerland and Ukraine sign protocol of amendment to double taxation agreement
The protocol implements the minimum standards for double taxation agreements and also adapts the DTA to the current treaty policy of the two states.
02/26/2019
FCA predicts £1bn saving for investors under Mifid
The unbundling of research costs was a component of the Mifid II rules introduced in January 2018
02/26/2019
Morning Coffee: Top trader's revenge on the bank that fired him. Fresh horrors at SocGen
As of last week, he's succeeded in that too: Barclays must now pay Fotheringhame £948k ($1.2m) in compensation for firing him in 2016 at the behest of the New York Department of Financial Services, which alleged that Fotheringhame was a key pla
02/26/2019
EU Demands Belize Remove Harmful Tax Regimes
The Code Group also found that, in general, the Income and Business Tax Act does not impose substance requirements for companies benefiting from the tax exemption.
02/25/2019
FCA statement on onshoring ESMA’s temporary intervention measures
Our proposed interventions are the same in substance as ESMA’s, although we are also proposing to apply our rules to closely substitutable products.
02/25/2019
EMIR Pension Scheme Arrangements clearing exemption
Through introducing amendments to incorporate the temporary EU exemption for Pension Schemes Arrangements, it is the Treasury’s intention that the exemption will apply to both UK and EEA Pension Scheme Arrangements.
02/25/2019
EBA publishes Handbook on valuation for purposes of resolution
The EBA, together with national resolution authorities and the SRB, is currently conducting additional work related to information
02/25/2019
Guardtime, KPMG sign agreement on developing global business platform
Guardtime's KSI blockchain technology is in its essence a mathematically ensured cyber security technology for rapid and immutable identification of modifications in digital data and intelligent devices.