01/10/2017
TPR issues first chair’s statement fines against master trust schemes
TPR has issued a regulatory intervention report about both cases.
Legal, Regulation & Compliance
01/10/2017
Swedish Bank Merger Rules Aim to Limit Risk of Tax Imbalance
The merger involving Nordea Bank AB was completed Jan 1.
01/10/2017
FCA Asset Management Market Study - Interim Report
The Report is clear that the FCA believes that there is still quite some distance to go before the FCA will be comfortable that investors, especially retail investors and smaller institutional investors are able to achieve value for money.
01/10/2017
Jailed: NHS Trust manager who 'demanded £95,000 kickback' in return for awarding IT contract
The corruption also led to Lewis's wife, Sue Lewis, who was the trust's chief operating officer and deputy chief executive officer, quitting her role although there was no suggestion she was involved.
01/10/2017
Moving the Goalposts: U.K. and U.S. Trends in Fintech Bank Licensing
U.K. and the U.S. have made it easier to obtain a banking licence
01/09/2017
Herbert Smith Freehills - Financial regulation update
The FCA has published a policy development update following a meeting of its board.
01/09/2017
Words mean what they say - when they clearly should not - Withers
In recent years judges have shown much greater willingness to ensure that mistakes in Wills are corrected. The result has been to uphold testators' intentions in the face of ambiguity or even plain error.
01/09/2017
Trustees and conflicts of interest – sidestepping the rule against self-dealing - Withers
It is a basic principle of trust law that trustees may not put themselves into a position where their personal interests conflict with their duties as trustee.
01/09/2017
New guidance from HMRC on inheritance tax residence nil rate band - Withers
HMRC have produced guidance and 18 case studies explaining points such as the following
01/09/2017
City watchdog admits security blunders
City regulator also revealed that it had lost confidential enforcement documents on more than one occasion
01/09/2017
Tax cheats jailed for more than 730 years in 12 months alone, new figures reveal
HMRC took 679 fraudsters, company directors, accountants and gangsters to court
01/09/2017
Irish Revenue Advises On Changes To Voluntary Disclosure Regime
Currently, those eligible for a qualifying disclosure face reduced penalties for the underpaid tax
01/09/2017
Swedish regulator names closet-tracker funds
But watchdog still has no official definition of index-hugging products
01/09/2017
Polish Lender to Appeal Against Tax Decision
Its shares were down 15% at 148.2 pence at 0813 GMT, the worst performance on London’s FTSE mid cap index.
01/09/2017
Libor trio to face confiscation orders next month, as hearing scheduled to begin in February
Confiscation proceedings take place following a guilty verdict or plea
01/09/2017
Banks risk missing 2019 ringfence deadline
Watchdog seeks pledge from lenders that changes will be made on time
01/09/2017
MCCAA launches two charters on financial and banking services
These charters also safeguard consumers’ financial interests as they prohibit hidden costs and expenses.
01/09/2017
Biggest banks each set to be hit with $200m regulatory costs
New Basel rules due to come in globally in 2019 will create need for 2,000 staff
01/09/2017
German banks stiffen opposition to risk weightings
They passionately argue the case of internal assessments being tough enough with their principal banks set to be impacted by a proposed global standard for how banks calculate the capital they need.
01/09/2017
Bank fraud landmark: TSB repays victim and admits giving criminal a bank account
Telegraph Money is campaigning for banks to improve their security and take quicker action when innocent customers make transfers to fraudsters' accounts.