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Legal, Regulation & Compliance

12/21/2017

Latest IRHP Mis-Selling Judgment Confirms No "Mezzanine" Duty of Care Owed by Banks

The court rejected these arguments and in particular found that the main factual obstacle for Marz on this issue was that the Alternative Arrangement did not comply with the hedging condition

12/20/2017

UK FCA Notes LSE Shareholders' Vote To Keep Chairman Donald Brydon

A total of 21% of shareholders, or 56.2 million, voted in favour of the proposal.

12/20/2017

Hedge Fund Loses Bid to Block Quant Fraudster's Deportation

Xu, a University of Cambridge math graduate who had worked at Goldman Sachs Group Inc., was employed at Trenchant between 2012 and 2014.

12/20/2017

FCA statement on EU withdrawal

The final nature of any implementation period is yet to be agreed

12/20/2017

KPMG tax evasion search warrants ruled unlawful

The four executives challenged to the legality of the process to obtain warrants to search their premises.

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.

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.

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