12/20/2018
Crown Dependencies try to shake off EU 'tax haven' tag
The laws were introduced after the European Union threatened the dependencies with inclusion on its 2019 tax blacklist, along with 62 other places.
Legal, Regulation & Compliance
12/20/2018
Details of Staley Allegations Are Revealed, Then Deleted, by DFS
About three hours later, the DFS changed its online statement, removing the purported circumstances of Staley’s departure from JPMorgan.
12/20/2018
10 detained in Estonia over massive money laundering
All ten are suspected of knowingly helping Danske Bank customers to transfer dirty money.
12/20/2018
State aid: Commission concludes Gibraltar gave around €100 million of illegal tax advantages to multinational companies
The Commission also has an ongoing in-depth investigation concerning tax rulings issued by the Netherlands in favour of Inter IKEA and an investigation concerning a tax scheme for multinationals in the United Kingdom.
12/20/2018
EU takes step to boost monitoring of money laundering at banks
The reform was rolled out by the EU Commission in September
12/20/2018
Banks in UK warned over failure to take diversity seriously
Senior managers in financial services could lose their jobs, watchdog warns
12/20/2018
Barclays fined $15m over whistleblowing scandal
DFS Investigation Found Shortcomings in Barclays’ Governance, Controls and Corporate Culture Relating to the Bank’s Whistleblowing Function After CEO Personally Sought to Identify Whistleblowers
12/20/2018
Brussels accuses four banks in bond trading cartel probe
Credit Suisse and Deutsche Bank caught up in allegations of price rigging
12/20/2018
Italy Bonds Fail to Lure $2 Trillion Investors After Budget Deal
Aberdeen and AllianceBernstein steering clear of debt
12/20/2018
FCA bans debt management boss who purchased firm with client money
Mr Newton knew these monies from First Step should only have been used to pay customers’ creditors or to be returned to customers.
12/19/2018
FCA package of measures for high-cost credit review
The FCA has also made new rules strengthening the protections for consumers using home-collected credit (doorstep lending), catalogue credit and store cards and it is consulting on further measures on buy now pay later offers.
12/19/2018
Opinion of the European Banking Authority on preparations for the withdrawal of the United Kingdom from the European Union
A ratified withdrawal agreement may provide all stakeholders with more time to implement the necessary changes, but, given the lack of certainty, mitigating actions need to start now if they have not already done so.
12/19/2018
Oslo Børs signs agreement with UnaVista
The transaction reporting will be based on a tri-party partnership.
12/19/2018
MiFID II prompts Bloomberg to partner with ETF providers to launch volume feed
Increasing transparency
12/18/2018
The financial services contracts regime
The Government has now published draft legislation (link is external) for the financial services contracts regime (FSCR) which will provide a limited period of time during which EEA passporting firms can continue to service UK contracts
12/18/2018
Commission proposes to extend equivalence for Swiss share trading venues for six months
Once adopted, the measure will ensure that businesses and markets can continue to operate smoothly and without any disruptions after 31 December 2018.
12/18/2018
New rules for claims management companies to boost consumer protection and professionalism
'The new rules will ensure firms are transparent about their estimated fees before the customer signs on the dotted line, and notify customers of free statutory ombudsmen or compensation schemes.
12/18/2018
Catella divests Card Issuing operations in Luxembourg to Advanzia Bank and completes strategic review
The balance sheet total of Catella Group will be reduced by approx.
12/18/2018
Financial adviser accused of £31K fraud
The alleged victim visited the bank mostly on a Monday and Thursday, although sometimes it was not always possible for her to stick to those days.
12/18/2018
FCA intervenes on overdraft fees
Under the proposed rules arranged overdraft prices will have to be advertised in a standard way, including an annual percentage rate (APR) to help customers compare against other products.