12/19/2017
Seven ways for wealth managers to benefit from MiFID II
With regard to wealth management clients, they will have greater information on how their advisers choose services for them and how much they are charged for these.
Legal, Regulation & Compliance
12/19/2017
FCA shuts down £1.2m Cyprus investment scam
An unregulated Cyprus-based investment scheme has been shut down by the High Court following an application by the UK’s Financial Conduct Authority.
12/18/2017
ECB: Ireland’s Central Bank must enforce tracker mortgage redress
Daniele Nouy, chairwoman of the supervisory board of the ECB, said it is up to the Irish Central Bank to take enforcement action
12/18/2017
Barclays in Talks With SFO on Qatar-Probe Deal
Bank seeking to avoid operating company being charged
12/18/2017
Woodford and Barnett-backed legal fund drops after reshuffle
GKC’s three principals will no longer have operational responsibility but will continue to serve on Burford’s investment committee, the company said
12/18/2017
Asset managers' plans for handling investment research costs under EU's MiFID-II
The MiFID II directive comes into force in January and leaves asset managers with a choice of whether to absorb the cost of paying for outside research or pass it on to clients.
12/18/2017
Central banker wants French banks to help drive European M&A
Since the end of the 2008-2009 financial crisis, European banks have largely ignored calls to merge from some central bankers
12/17/2017
PM urged to stop RBS shutting 62 branches around UK
“Theresa May’s response in Prime Minister’s Questions was shocking – she can’t wash her hands of this issue.
12/15/2017
FCA fines investment company over inside information breach
This is the first fine the FCA has imposed on an AIM company for late disclosure following the introduction of MAR on 3 July 2016.
12/15/2017
Russia's Promsvyazbank agrees to bailout by central bank -sources
A central bank representative, in response to a written request for comment and phone calls, said the bank had no comment.
12/15/2017
Herbert Smith Freehills - Financial regulation update
FCA enforcement: disclosure of inside information, AIM company
12/15/2017
Gibraltar: Distributed Ledger Technology Regulatory Framework (DLT framework)
Firms seeking to apply are encouraged to speak to one of the local advisors as soon as possible.
12/15/2017
Mourant Ozannes advises on takeover of LSE-Listed MarketTech Holdings Limited
We are proud to have advised LabTech and worked alongside onshore counsel Berwin Leighton Paisner LLP".
12/15/2017
Dutch asset manager Robeco to adopt Korea’s stewardship code
Prior to Robeco, Hong Kong-based investment firm Oasis Management Company and U.S. investment firm Dalton Investments LLC officially announced to support Korea’s stewardship code
12/15/2017
Doubts remain over asset manager preparedness for Mifid II
If firms have made no real attempt to be ready for the regulation, the FCA has said it could take enforcement action against them.
12/15/2017
Dutch Unit Of Russia’s Alfa Bank Raided In Money Laundering Inquiry
Amsterdam Trade Bank is suspected of violating anti-money laundering laws by withholding information on “unusual transactions” made by clients
12/14/2017
FCA and PRA consultations on extension of SMCR
The FCA and PRA have published consultations relating to the extension of the Senior Managers and Certification Regime (SMCR). The date for the implementation of the new rules will be announced and set by HM Treasury (HMT) in due course.
12/14/2017
Private investments in Cyprus – a bright future
This has restored Cyprus's reputation among private investors as an investment hub that offers a vast array of opportunities.
12/14/2017
Ogier Jersey and BVI teams advise on £95.5 million Bristol real estate deal
The investors are advised by Knight Frank Investment Management, and Ogier worked with lead counsel Ashurst.
12/14/2017
Funds tsar forced to say sorry over attack on City
Industry complains over outspoken criticism of hidden costs