05/29/2018
Radical reform: Switzerland to vote on banking overhaul
Supporters promise the proposal will end boom-and-boost, but critics say it is a dangerous experiment
Legal, Regulation & Compliance
05/29/2018
Privacy – it’s not all about money
On 1 May, a high-profile debate in the UK House of Commons passed a set of amendments to the Sanctions and Anti-Money Laundering Bill that brought the issue of beneficial owners of companies, and public registers, back into the spotlight.
05/29/2018
Carey Olsen advises on double fundraise
Both funds were oversubscribed and reached their respective hard caps within just four months of launch, after receiving strong support from existing investors and attracting new investors from the US, Europe and Asia.
05/28/2018
Danske Bank rebuked by govt as laundering scandal expands
The regulator has “made the point that what happened at Danske Bank damaged the entire financial sector,” Mikkelsen said in an interview in Copenhagen on Friday.
05/25/2018
Russia's Sberbank CEO says higher provisions would threaten banks and economy
The central bank says changing the rules on provisions would help clean up of the Russian banking system.
05/25/2018
How Britain let Russia hide its dirty money
For decades, politicians have welcomed the super-rich with open arms. Now they’re finally having second thoughts. But is it too late?
05/25/2018
Fidelity defends harassment complaint as legal battle set to continue
The employee alleged that the manager made a number of inappropriate personal comments about her, including questioning why she wasn’t planning to get pregnant with a second child.
05/25/2018
Banks Caught in Data Dilemma as EU Pulls Them in Two Directions
The apparent clash has prompted head-scratching over how these requirements are going to work together.
05/25/2018
Technology and global ties: turning the tide on financial crime
Speech by Christopher Woolard, Executive Director of Strategy and Competition at the FCA, delivered at the Anti-Money Laundering TechSprint, London.
05/25/2018
Remuneration and performance management of sales staff (SYSC 19F)
The provisions in SYSC 19F largely affect staff who would not otherwise be captured as MRTs under the Codes.
05/25/2018
Investors warned on robo-advisers as watchdog finds some are 'potentially misleading' customers on fees and advice for their investing service
Investment firms can offer different levels of service
05/25/2018
Husband and wife banned after abusing insolvent company’s assets
A married couple who were directors of an independent financial advice company have been disqualified for taking assets from an insolvent company.
05/25/2018
Deutsche Bank exits Poland and Portugal, new focus on Spain and Italy
Meanwhile, the Deutsche Bank stock continues to lose on the Frankfurt stock exchange.
05/24/2018
Cayman to bring fight over BO to local courts
He said that under no circumstances would the Cayman government engage with any British officials that may seek to establish a public beneficial ownership register.
05/24/2018
European Wealth Wins US Approval For Newbridge Acquisition
On Friday it asked KPI to convert a proportion of its convertible facilities provided to European Wealth into shares in order to strengthen the group's balance sheet.
05/24/2018
Aviva admits it overcharged 50,000 customers
In a statement to Times Money, Aviva said that about 50,000 customers had been affected and that “the vast majority” had overpaid by £100 or less.
05/24/2018
HMT speech: CBI Annual Dinner 2018
The Chancellor of the Exchequer, Philip Hammond's speech at the Confederation of British Industry Annual Dinner 2018.
05/24/2018
French bank ordered to pay back German lender millions in massive tax fraud case
A committee of the German parliament estimated the cost to the public purse mounted as high as one billion euros before the practice was outlawed in 2012.
05/24/2018
Building Societies and the Future of Retail Banking
Speech by Jonathan Davidson, Director of Supervision – Retail and Authorisations at the FCA, delivered at Building societies annual conference 2018, Manchester.
05/24/2018
House of Lords paves way for OT public ownership registries
The amendment brought in the House of Commons at the end of April attracted strong criticism from the overseas territories governments, given that orders in council are only issued in extremely rare circumstances, typically involving the implementation of