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
Legal, Regulation & Compliance
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
02/27/2018
ECB adopts ‘streamlined’ pension fund data reporting regulation
In a feedback statement published in connection with the final regulation, the ECB said that, from the outset, it paid attention to the issue of containing costs.
02/26/2018
EU Proposes New Rules to Manage Leverage and Derivative Exposure for Funds – Are Asset Managers Ready?
IOSCO is proposing everything from new leverage limits, minimum margin requirements and a host of other measures for products like binary options and contracts for differences.
02/26/2018
Bitcoin bitterness starts to make messy divorces even worse
Although parties have a duty to provide full disclosure of their assets in a divorce, the anonymous nature of cryptocurrencies potentially make them a safe haven for spouses wishing to hide their money from a warring partner.
02/26/2018
FCA statement on proposals to introduce a public register
Later this year, the Financial Conduct Authority will consult on proposals to make information available on a wider range of individuals at authorised firms.
02/26/2018
Treatment of pooled client accounts under the Money Laundering Regulations 2017
It is harder to predict how and whether different banks might seek proof of ‘low risk’ relationships for activities not regulated under the MLR, such as litigation.
02/26/2018
Who is John Smith?
Due to the regulations now in force, simplified client due diligence is no longer applicable in most circumstances.
02/26/2018
Russian millions laundered via UK firms, leaked report says
Denmark’s biggest bank believes cash was funnelled through British companies by people linked to Vladimir Putin’s family and the FSB spy agency
02/25/2018
Expats Win Brexit Legal Challenge To Safeguard Their Rights
A judge has now ruled that the case can proceed.
02/25/2018
Four ex-Deutsche Bank traders evade UK Euribor-rigging charges
The decision means that only six of 11 traders from Deutsche Bank, Barclays Plc and Societe Generale SA charged with rigging Euribor will go on trial in April.
02/25/2018
Getting tough on money laundering
It is they, not their detractors, who have contributed to Malta’s image as an Eldorado for money launderers that the country is now constrained to fight.
02/24/2018
Regulator steps in on ABLV bank, 470 million euro payout looms
The fate of ABLV bank looked sealed February 24 with Latvia's financial regulator the Financial and Capital Market Commission (FKTK) announcing a "decision on unavailability of deposits" at the bank that will force the bank to pay off depos
02/23/2018
Government Response to the Commission on Dormant Assets' Report
The government's response to the Commission on Dormant Assets' report.
02/23/2018
Legal framework introduced for blockchain activities, technology incentives expanded
The decree legalizes blockchain-based business activities and provides legal definitions for cryptocurrencies and other tokens.