03/04/2018
Illegal gambling sees Russian punters pouring over $1 billion per year into offshore shell accounts
Around 70 percent of that is illegal, offshore business.
Legal, Regulation & Compliance
03/04/2018
Vatican Bank’s Ex-Chief Indicted For Embezzlement And Money Laundering
Vatican prosecutors have indicted Angelo Caloia and his lawyer over embezzlement losses of more than $60 million.
03/02/2018
Carey Olsen and Carey Group advise on LSE listing
Carey Group in Guernsey has been appointed as administrator and company secretary to MPLF. Stifel is the company's broker.
03/02/2018
ECB sets new rules on bank capital and cash
The initiative follows the demise of four euro zone banks in the past year, including Spain’s Banco Popular that found itself out of cash after a run on its deposits.
03/02/2018
Former PwC Partner accused of sexual assault attempts to sue firm for £5 million
At the end of 2017, the corporate world was rocked by allegations of sexual assault and misconduct, with serious accusations being leveled at major senior figures across multiple industries.
03/02/2018
DFM declared insolvent after FCA action
The FCA has also imposed requirements on the firms, with immediate effect, requiring them to cease all regulatory activity and not to dispose of any firm or client assets without the regulator's consent.
03/02/2018
Competition in Financial Services - Carole Begent, BLP
To date the PSR has taken enforcement action in respect of one of the 2015 directions.
03/02/2018
EIOPA Recommends Further Simplifications to the Calculation of Insurers' Capital Requirements
EIOPA advises to further simplify calculations for natural, man-made and health catastrophes, in particular fire risk and mass accident.
03/02/2018
UK regulator declares DFM insolvent
The Financial Conduct Authority has declared discretionary fund management firm Beaufort Securities and its clearing arm, Beaufort Asset Clearing Services, insolvent.
03/01/2018
Draghi tells the EU Parliament his relaxed policies are here to stay
He has even observed in the past that the reason for that is the fact the negotiations between unions and employers base their agreements for wage increases on past data of subdued inflation rates.
02/28/2018
Why The U.S. Treasury Killed A Latvian Bank
The ECB didn't want to give it any more funds, because to do so would simply encourage more deposit flight - and in this bank’s case, there are good reasons not to allow deposits to run. So it closed it down.
02/28/2018
FCA overhauls rules on credit card charges for struggling debtors
The rules include forcing companies to start communicating with customers when they have been in persistent debt — defined as when their minimal repayments are being outweighed by interest and charges — for over 18 months.
02/28/2018
Merger creates new global law firm
The merger brings together two organisations widely recognised for their innovative approaches to client service, into one global, fully financially integrated law firmers involve a Swiss verein structure, whereby firms share branding but keep their profi
02/28/2018
Using arbitration to resolve art related disputes - Withers
In arbitration, disputes are resolved with binding effect by a person or persons acting in a judicial manner in private, rather than by a national court of law
02/28/2018
New credit card rules introduced by the FCA
The new rules come into force on 1 March 2018
02/28/2018
The FCA fines Vanquis £1,976,000 and orders Vanquis to pay compensation to customers
The FCA found that the firm breached Principle 6 (Customers' interests) & 7 (Communications with clients) of the FCA Principles for Businesses.
02/28/2018
HM Treasury Advisory Notice: Money Laundering and Terrorist Financing controls in higher risk jurisdictions
Requirement to apply Enhanced Due Diligence for higher risk jurisdictions
02/27/2018
ECB boss has no problem with tougher rules for funds
EU rules have been blamed for Permanent TSB's decision to offload 18,000 'non-performing' mortgages.
02/27/2018
Aspect Software inks deal with CallMiner
Our API allows organisations to extend these analytics insights across the company to combine with other data sources.
02/27/2018
Basel III Implementation may be only partially effective
Under Basel III, minimum capital requirements are increased by 50 per cent, requiring banks to increase their risk-based capital ratios