08/08/2018
Cyprus targets tax avoiding letter-box companies
These guidelines are due to be incorporated into the Central Bank’s Anti-money Laundering Directive in the near future.
Legal, Regulation & Compliance
08/08/2018
Jersey launches consultation on tax residency claims
They published proposals are part of a consultation, which officials say would allow the island to meet the commitments made in 2017 to the EU Code of Conduct Group on Business Taxation.
08/07/2018
JAG Shaw Baker joins Withers to create global tech offering
The firm has 17 offices, now 18, across the US, Europe and Asia.
08/07/2018
FCA acted unlawfully in exercising its powers under s28A FSMA
Upper Tribunal Tax and Chancery decision of Judge Herrington on 1 August 2018.
08/07/2018
Two extradited to face fraud charges in Jersey
Bahrain and the UK cooperated to ensure the men stand trial over an alleged multi-million pound fraud
08/07/2018
Six global banks should face terror-funding claims by U.S. military vets - judge
Judge Pollak’s recommendation in Freeman v. HSBC must still be reviewed by the trial court overseeing the four-year-old case, presided over by U.S. District Judge Dora Irizarry.
08/07/2018
Irish AML Requirements Facing a Shake-Up
A significant aspect of these reforms is that certain industry sectors will find themselves within the scope of AML/CFT legislation for the first time and will be subject to direct supervision for AML/CFT purposes by competent authorities.
08/07/2018
FCA Takes Action in UBS Rape Case
The former UBS employee was sexually molested by her manager
08/07/2018
FCA partners with global regulators on new sandbox
As part of the consultation, the group is seeking views on the mission statement for the GFIN, its proposed functions, and where it should prioritise activity.
08/07/2018
Cyprus clamps down on shell companies
Tax residence benefits are only for businesses that have real substance, says central bank
08/07/2018
Court Of Appeal Holds No Real Prospect Of Success For Claim Alleging Contractual Obligations Owed By A Bank To Its Customers In The Conduct Of FCA Review
The Court of Appeal considered the High Court's decision to refuse the claimants permission to make two key (but contentious) amendments to the particulars of claim.
08/06/2018
‘The giant is awakening’: Baker McKenzie adds $230m to revenue as partner profits surge 13%
The result confirmed Bakers as the third highest billing firm in the world, behind Kirkland & Ellis and Latham & Watkins.
08/06/2018
‘The giant is awakening’: Baker McKenzie adds $230m to revenue as partner profits surge 13%
Rawlison said the firm was climbing up the value chain in the mandates it acted on, pointing to the 13% growth in profits outpacing the increase in revenue.
08/06/2018
Investment company shut down over misleading claims
Customers were subjected to highly pressurised sales tactics and were misled about the amount of returns made on investments.
08/06/2018
Accountant charged over misleading the regulator
Mr Shah is due to appear at Brighton Magistrates Court on 15 August 2018.
08/06/2018
Canaccord clients seek redress over film scheme
The wealth management firm will “vigorously defend itself” if claims are advanced
08/06/2018
Denmark Takes Up Investigation of Its Biggest Bank for Money Laundering
It's too soon to know if criminal charges will result, said the prosecutor. "We are very concerned that every stone in this case is turned over."
08/06/2018
UniCredit files €90m claim against Caius Capital
Dispute between Italian bank and hedge fund over complex debt instrument deepens
08/03/2018
MiFID II: ESMA publishes data for SI calculations
The publication of the data for the SI calculations for derivatives and other instruments will start on 1 February 2019 as set out in the plan announced by ESMA on 12 July 2018.
08/03/2018
French request for UBS banking data stopped by Swiss court
"The judgment is a big success for UBS, and it took a lot of effort. In a first hearing, UBS struggled to be named a party in the case and to access the French files," Jacquemart said.