11/22/2018
FCA urged to expand platform exit fee clampdown
The Financial Conduct Authority (FCA) has come under pressure to widen its possible ban on platform exit fees to include older-style pension products
Legal, Regulation & Compliance
11/22/2018
Approach to enhancing AML standards - Adam Farkas
These investigations take significant time for our AML, legal and management teams but we believe are worthwhile and we will continue to use this tool where needed.
11/22/2018
FCA wins 'fraud' bond investigation complaint
The complainant had signed a contract to purchase a £5,000 bond through a company that was unregulated by the FCA.
11/21/2018
SocGen resolves legal claim with platform tech provider FNZ
Claim from SocGen's global markets division
11/21/2018
Balfour and Manson becomes STEP Gold employer
It demonstrates to clients that we offer the highest level of expertise in areas of law that can have a profound impact on their lives.”
11/21/2018
TISA Conference: Economic Secretary speech
John Glen speaks about the importance of gender equality within the financial services industry.
11/21/2018
Substance Requirements by SMP Partners
Whilst these are significant changes and will increase the level of documentation and reporting required, it is likely that most companies will either meet the substance requirements or will not be caught by the new rules.
11/21/2018
Jersey funds choosing Carey Olsen according to new industry research
Carey Olsen now provided legal advice to 670 such funds at the end of June 2018
11/21/2018
Advisers warned of Mifid II crackdown next year
Rory Percival, a former technical specialist at the FCA, said it would be "daft" of the regulator not to take these two issues together and combine them with a review of whether advisers are complying with product governance rules.
11/20/2018
Guernsey’s green focus – home and away
Earlier this year Guernsey was recognised by the think-tank Z/Yen as an emerging global player in green finance.
11/20/2018
IOSCO members found mostly compliant with Principles for Commodity Derivatives Markets
The survey provided an opportunity for IOSCO members to self-audit their current regulatory practices
11/20/2018
Deutsche Bank Named in Danske Bank Money Laundering Scandal
The German firm allegedly helped facilitate more than half of the illicit dealings undertaken by the Danish bank
11/20/2018
Japan and France sign fintech pact
These cooperation frameworks also include referral mechanisms for financial innovators which will therefore facilitate their entry into French or Japanese markets.
11/20/2018
Ireland Updates Guidance On Islamic Finance-Compliant Bonds
The guidance has been updated to reflect an evolution in the structure of sukuks
11/20/2018
SocGen to pay $1.3 billion to settle U.S. sanctions case
“The absence of an effective, global sanctions-compliance infrastructure and lack of management oversight allowed Société Générale employees to ignore the scope and applicability of laws governing economic sanctions, as w
11/20/2018
Barclays not liable to buyers of U.S. IPO before 2008 crisis: appeals court
Barclays was accused of concealing 21.6 billion pounds (then about US$42 billion) of mortgage-backed securities and other risky assets insured by monoline insurers, and a March 2008 “directive” by the U.K. Financial Services Authority requirin
11/20/2018
Footballer slams advisers for 'brainwashing' young players
Since the TV money got big and players of my generation started retiring, problems have become bigger.
11/19/2018
The Bank of Canada, Bank of England and Monetary Authority of Singapore share assessment on emerging opportunities for digital transformation in cross-border payments
The report examines existing challenges and considers alternative models that could in time result in improvements in speed, cost and transparency for users.
11/19/2018
Understanding EU anti-money laundering law
This article highlights key aspects of the EU’s fourth and successive directives, which are an important part of Europe’s response to financial crime.
11/19/2018
Draft EU Exit SIs for investment funds and their managers
The draft SIs are provided, alongside explanatory policy notes.