02/08/2019
What do Mandatory Disclosure Rules mean for companies?
Although the primary reporting requirement lies with the intermediary, the reporting obligation can shift to the taxpaying entity or individual.
Legal, Regulation & Compliance
02/08/2019
Court of Appeal Decision in Manchester Building Society V Grant Thornton
This required the claimant to prove the counter-factual, that the same loss would not have been suffered if the advice had been correct, i.e. if the claimant had not exercised the break clause early and continued to hold the swaps.
02/08/2019
Bankhall launches new hub for senior managers regime support
The rules, which are set to be rolled out to advisers later this year, require senior managers within firms to have statements of responsibility to establish lines of accountability, while testiying the competence of more junior staff on a regular basis.
02/08/2019
Investing in Uncertain Times - LEBC
If a last-minute deal can be reached, or no deal does not result in chaos, then domestically focussed smaller companies are likely to be beneficiaries.
02/07/2019
HMRC allowed to request documents from person abroad says Court of Appeal
There are fines for failing to comply with a notice, and criminal offences for destroying or tampering with documents.
02/07/2019
ESMA sets out 2019 supervisory convergence priorities
The implementation of the SCWP will be closely monitored and priorities may be readjusted depending on possible changes in the EU environment in 2019.
02/07/2019
ECB policy affects Eastern European economies – Bank of Italy paper
Colabella looks at data from 2004, before the ECB adopted quantitative easing policies, to 2016. He uses the “shadow interest
02/07/2019
Intertrust to acquire ABN AMRO's Escrow and Settlement business
Transferring ABN AMRO's Escrow & Settlement business to Intertrust is in line with the bank's strategic focus on its core banking activities
02/07/2019
Deferred Prosecution Agreement in the U.S. resolved
Since Julius Baer fulfilled its obligations under the DPA, the U.S. Attorney’s Office for the Southern District of New York filed a motion to dismiss the charges.
02/07/2019
FCA approach to MiFID transparency calculations
Full details will be provided then, but the powers were provided to us to help avoid significant short-term disruption in a no-deal scenario.
02/07/2019
ECB Banking Supervision conducts sensitivity analysis of liquidity risk as its 2019 stress test
ECB Banking Supervision will test adverse and extreme hypothetical shocks in which banks face increasing liquidity outflows.
02/07/2019
FCA warns public of investment scams as over £197 million reported losses in 2018
The most common scams reported involved investments in shares and bonds, forex and cryptocurrencies
02/07/2019
ICMA guide to due diligence requirements under Securitisation Regulation
The obligation to provide the information is on the originator, original lender or SPV. Failure to do so can result in administrative sanctions, remedial measures (including financial) and may also carry criminal sanctions.
02/07/2019
Political agreement reached on EMIR Refit Regulation
This regulation was adopted in 2012 following the financial crisis to better manage and monitor the risks arising from derivatives markets for financial stability.
02/07/2019
Law firm Blackadders ramps up Aberdeen presence with merger
The merger underpins Blackadders’ investment in people and our business infrastructure to reinforce our position for continued, strategic growth.
02/06/2019
ESMA sets out use of UK data in ESMA databases under a No-Deal Brexit
ESMA’s statement aims to inform stakeholders on the approach it will take on all ESMA IT applications and databases.
02/06/2019
Political agreement reached on cross-border distribution of investment funds
This will lead to more choice for investors, at lower costs - an important milestone for the Capital Markets Union.
02/06/2019
Manraj Virdee sentenced to 2 years for illegally operating an investment scheme and fraud
The sentence followed earlier guilty pleas to 4 charges relating to misleading consumers, fraud and the illegal operation of an unauthorised investment scheme worth over half a million pounds.
02/06/2019
The Importance of Diversity
Speech by Andrew Bailey, Chief Executive of the FCA, at the PIMFA Wealth of Diversity Conference 2019.
02/06/2019
ESMA agrees no-deal Brexit MOUs with the Bank of England for recognition of UK CCPs and the UK CSD
ESMA has previously communicated, in its public statements of 23 November and 19 December 2018