12/20/2017
FCA secures High Court orders against unlawful FX investment scheme
Mr Bhandari will be sentenced in late January 2018, and was remanded in custody until that time.
Legal, Regulation & Compliance
12/20/2017
U.K. Court Freezes Assets of Ex-Owners of Ukraine's Top Bank
Privatbank alleges former chiefs used shell firms in fraud
12/19/2017
Brexit: EU says no special deal for UK's financial services industry
While Britain can negotiate trade deals with other countries during the transition, they cannot enter into force until the period is over, probably in 2021
12/19/2017
Landmark change as Government says pension trustees must state policy on ESG risks
The Law Commission report called for the FCA to impose broadly similar requirements on contract-based schemes.
12/19/2017
HMT: responses to consultation on anti-money laundering supervisory review
HM Treasury (HMT) has published responses which were submitted in relation to its consultation entitled "Anti-money laundering supervisory review".
12/19/2017
Transfer pricing earthquake in Hungary – Part I
If the Hungarian entity is obliged for only data supply abou the riporting entity, the first year in sope is 2016.
12/19/2017
Offshore firm at centre of Paradise Papers expose suing The Guardian, BBC
It has sought damages for the disclosure of what it said were confidential legal documents
12/19/2017
Expat football mogul case shows limits of HMRC power
A football entrepreneur and Dubai resident, who rejected HM Revenue & Customs demands for information, has won a court case against the UK taxman
12/19/2017
Fugitive in Malta Falcon Funds pension bust arrested in London
Mystery trader Emil Amir Ingmanson was arrested in connection with investigations into Falcon Funds, which was once run from Malta
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.
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