03/14/2016
UK Companies: Beneficial Owners Register/Persons with Significant Control
Important update for all directors, trustees and beneficial owners of UK companies and Limited Liability Partnerships.
Legal, Regulation & Compliance
03/14/2016
ECB’s Cheap Loans Highlight Rift Among Europe’s Banks
Measure is welcomed in Southern Europe but criticized in Germany
03/14/2016
Regulator prepares for funds influx
The Central Bank is in discussions with a number of international investment companies, in preparation for an influx of investment managers into Ireland if the UK votes to leave the EU.
03/14/2016
FCA proposes reforms to close ‘advice gap’
Financial Conduct Authority has outlined big changes to boost the ability of banks and independent financial advisers to serve the mass market.
03/14/2016
Belgium’s Ageas in 1.2b euros settlement plan over Fortis
The Belgian-Dutch Fortis group was dismantled and partly nationalised in October 2008 during the global banking crisis
03/11/2016
ADGM, Luxembourg ink agreement
"The signing of a MoU on bilateral cooperation reflects the magnitude of efforts undertaken by the Ministry, as well as the importance of the UAE-Luxembourg Council for Islamic Finance Cooperation."
03/11/2016
Draghi offers bank sweetener to encourage lending
Senior bankers had warned this week that negative rates would further weaken their profitability, while bank shares and bonds fell sharply earlier this year on similar concerns.
03/11/2016
Spain’s monarchy drawn into banking scandal
In a leaked text conversation also involving the king, Queen Letizia pledges support for a scandal-hit banker whom she describes as her ‘yoga mate’
03/11/2016
Investors Question Effectiveness of ECB Moves
Euro jumps, shares fall despite aggressive new stimulus measures; ‘we are reaching the limits of monetary policy’
03/10/2016
FCA publishes a Discussion Paper on the client money distribution rules and the Special Administration Regime
The discussion paper is a great opportunity for the industry to come forward and give us their views and opinions on this critical piece of work
03/10/2016
Appeal court dismisses compo claim by ABN pair
Both claimed damages from ABN and RBS for non-payment to them of severance and ex gratia payments to which they alleged they were entitled under the ABN redundancy policy.
03/10/2016
Bank of England rapped for misleading public on UK financial safety
Brazier’s claims that more bank equity hurts the economy branded ‘disturbing’
03/10/2016
Advisers foot bill for failed UCIS tax scheme IFA
Turnberry, which entered liquidation last March, lost at least three cases with the Financial Ombudsman Service before it collapsed.
03/09/2016
New UK rules hold bank bosses accountable for misconduct
From today the senior managers and certification regime comes into force along with a new criminal offence of failing to prevent a bank from collapsing.
03/09/2016
Bankers ‘terrified’ at new regulations
Executives speaking at the Financial Times banking standards conference in London on Tuesday expressed a variety of concerns about the impact of the senior manager and certification regime, which came into force this week.
03/09/2016
New rules in Italy to allow direct lending by EU Alternative Investment Funds
On 14 February 2016 the Italian Government approved the Law Decree no. 18/ 2016 (the Decree), which introduces interesting provisions for asset management industry players in Italy.
03/09/2016
Ineffective monetary policy will provoke further easing from ECB
The last time he gave strong hints that action was imminent was ahead of December’s meeting, when he was unable to persuade the ECB to go along with him.
03/09/2016
The EU Succession Regulation: Spotlight on Cyprus - Harneys
In a Union where persons and capital are increasingly mobile and free movement forms a basic right, succession laws of the various Member States have not done a good job of keeping apace.
03/09/2016
Deutsche Bank and UBS lose bonus tax case
The UK Supreme Court has ruled Deutsche Bank and UBS should pay taxes on bonuses paid to their investment bankers over a decade ago. The bonuses were paid to staff via offshore accounts in the form of shares to avoid attracting income tax and national ins
03/09/2016
OECD countries inch toward closing tax loopholes for the rich
Efforts begin to tighten banking rules that cost governments and taxpayers billions every year