06/05/2017
BVI's new beneficial ownership regime scheduled to take effect on 1 July 2017
This update is based on the latest available draft legislation on BOSS and other information made available by the BVI Government to the industry.
Legal, Regulation & Compliance
06/05/2017
Lloyds investors to go ahead with £350m lawsuit despite Royal Bank of Scotland stance
We want justice and for people to be held to account.
06/05/2017
Deutsche Bank will not facilitate Trump’s Russia investigation
The German lender was fined $630 million in January for organizing mirror-trading operations that could be used to launder Russian money.
06/05/2017
Bank of Portugal attacks EU bank measures
Portuguese banks in 2012 were obliged to restructure their businesses in line with plans approved by the European Commission.
06/05/2017
IoM considers changes to commission disclosure rule
The change is likely to be announced in response to industry feedback to the consultation on the latest draft, which ends 16 June 2017.
06/05/2017
Regulatory Change Identified as the Key Driver for Fixed Income Market Structure Change in Europe
Despite this, there is clear progress being made and the industry appears keen to take advantage of the additional data soon to be available in the market as a result of the regulation
06/05/2017
ESMA Final Report on MiFID II Product Governance Requirements
Firms have since grappled with where the proportionality dial should sit when establishing practical implementation frameworks.
06/04/2017
FCA Warns Dividend Arbitrage Could Link To Financial Crime
The Financial Conduct Authority said a recent review of firms engaged in so-called dividend arbitrage used to place shares in alternative tax jurisdictions with the aim of minimizing withholding taxes.
06/04/2017
BNP Paribas fined for failing to fight money laundering
The failures had an effect on France's entire effort to fight money laundering and terror finance.
06/02/2017
FCA bans jailed former Schroders trader
The FCA prohibited Clarke from performing any function in relation to regulated activities.
06/02/2017
Anti-Money Laundering and AI at HSBC
HSBC saw past this false choice and transformed its AML process using enterprise grade AI.
06/02/2017
Mourant Ozannes advises on largest ever European Private Equity firm fundraising
The Mourant Ozannes team was led by Felicia de Laat and senior associates Rachel Fowler and Matt McManus with assistance from colleagues in the funds, finance and corporate and other teams.
06/02/2017
Leading offshore law firm acts on top three private equity transactions in first quarter 2017
The firm’s team of more than 40 professionals handles complex, cross-border matters for many of Europe’s highest-profile and most prestigious funds and transactions.
06/02/2017
Global Foreign Exchange Code Of Conduct Published
We share the view that the global code plays an important role in assisting that process and in helping improve market functioning.
06/02/2017
Register of ownership of UK property through overseas companies - privacy in debate
The introduction of the government's People with Significant Control (PSC) register on 6 April 2016 has resulted in greater transparency of ownership of UK companies
06/01/2017
Regulator demands detailed Brexit plans from UK asset managers
Regulator demands detailed Brexit plans from UK asset managers
06/01/2017
EU Council adopts hybrid mismatches directive
The EU Commission will introduce a transparency initiative proposing for intermediaries to report cross-border tax planning schemes.
06/01/2017
What the FCA is asking fund managers on Brexit
City watchdog wants to know whether the UK's largest fund managers are planning job moves and who will be responsible for Brexit blueprints
06/01/2017
Refusal of judicial review of sale of Green Investment Bank
The ruling reinforces that there are limits to when a commercial decision taken by a public body is judicially reviewable.
06/01/2017
French Government Announces Three Ethics Laws, Bank For Democracy
Parties would be banned from receiving aid or loans from abroad.