04/27/2017
The UK Money Markets code
The Bank of England’s Money Markets Committee – comprised of market participants from a wide range of banks, other financial and non-financial institutions – has endorsed the Code.
Legal, Regulation & Compliance
04/27/2017
Herbert Smith Freehills - Financial regulation update
PRA: new Rulebook instrument
04/27/2017
EU Court rules in favor of Austria in tax dispute with Germany concerning profit-participation certificates
The Court concluded, that the phrase ‘income from rights or debt-claims with participation in profits,’ within the meaning of Article 11(2) of the treaty must be interpreted as meaning that it covers income
04/27/2017
Forsters upbeat as it posts 9% revenue growth despite flat real estate market
When people stop making decisions on real estate transactions, it has an impact
04/26/2017
Inaugural Guernsey Private Investment Funds launched
The PIF recognises that certain investment funds are characterised by a relationship between management and investors that is closer than that of a typical agent.
04/26/2017
Lloyds says ex-judge Linda Dobbs to review its handling of fraud case
Lloyds said will begin making compensation offers from late May onwards
04/26/2017
ESMA Working Group Lists Big Data Risks For Supervisors
Supervisors of financial institutions need to have the skill and ability to monitor the risks posed by the use of big data analytics
04/26/2017
Fears network members could disappear from FCA register
Each firm must appoint someone to carry out each senior function and inform the FCA who it is.
04/26/2017
Herbert Smith Freehills - Financial regulation update
ECB opinion on amending BRRD
04/25/2017
Grant Thornton fined £2.3m
This follows the conclusion of the Financial Reporting Council’s investigation relating to the audits of the financial statements of the AIM listed company AssetCo plc for the financial years ended 31 March 2009 and 31 March 2010.
04/25/2017
Judges Reject Banker's Claim to be a 'Genius' in Divorce Case
Mr Justice Holman had said the case “should be so easy” to settle as there was “plenty of money to go round
04/25/2017
The EU wants €2 billion from Britain for failing to stop Chinese crime gangs cheating tax
The gangs give the minimum price per kilo for things like clothes that pass through the ports, allowing them to avoid paying full VAT and excise on the goods.
04/25/2017
Employers Must Now Declare Gender Pay Gaps
The gender pay gap is the difference in average pay between men and women
04/25/2017
Appleby advise Kennedy Wilson Europe Real Estate PLC on Merger with Kennedy Wilson Holdings Inc.
It is intended that the merger will be effected by a Court-sanctioned scheme of arrangement of KWE under Article 125 of the Jersey Companies Law.
04/25/2017
Trust Companies, Banks Should Be Main Haven Targets
The European Commission is due to propose a regulatory framework for tax advisers and other intermediaries in the coming months.
04/25/2017
Debevoise Offers Guidance on BEPS Challenge with New Website
BEPS endeavours to fundamentally change the global tax landscape through a series of 15 action plans.
04/25/2017
ECB says Brussels wants too tight limit to its power over banks
The proposed legislation on Pillar 2, while rightly seeking to further supervisory convergence.
04/25/2017
European Commission speech on EU financial services policy
Mr Dombrovskis considers ways to further strengthen economic recovery in the EU, including accelerating the CMU and developing the right regulatory and supervisory framework for integrated financial markets.
04/25/2017
Herbert Smith Freehills - Financial regulation update
ESMA opinion on accepted market practices under MAR
04/25/2017
Barclays sets loan repayment ultimatums for former KWM EUME partners
Partners reportedly replied with queries after the first round of communications, but the bank did not respond. One source said that the person who handled the matter for Barclays “fell ill.”