06/14/2023
Odey Asset Management freezes funds as clients pull money, prime brokers flee
Crispin Odey has denied the allegations of misconduct, which were jointly reported by the Financial Times and Tortoise on Thursday.
Legal, Regulation & Compliance
06/13/2023
Completion of large banks merger brings clarity and stability
FINMA will continue to supervise the merged large bank very closely during the integration process.
06/13/2023
HMRC writes to UK residents named in Pandora Papers leak
They have been warned to report all their overseas income and gains they owe tax on or face penalties
06/13/2023
EU horizontal cooperation rules and guidelines adopted after delay
The updated horizontal guidelines and HBERs are welcome as they help to clarify the European Commission’s views in relation to some highly complicated and dynamic areas of competition law.
06/13/2023
New Conversion and Division Options for EU Limited Companies
The Mobility Regulations update the current cross-border merger regime
06/13/2023
Malta Financial Services Authority publishes draft legislative changes to new proposed regime
The MFSA invites stakeholders to provide their feedback on the proposed legislative changes by 22 June 2023.
06/12/2023
BoE rate setter Haskel: 'Further increases in interest rates cannot be ruled out'
Inflation remains ‘too high’
06/12/2023
Lex Greensill and former Credit Suisse bankers face Swiss criminal case - reports
Funds linked to Greensill Capital
06/12/2023
UBS imposes restrictions on Credit Suisse staff to reduce transaction risk - reports
Nearly two dozen ‘red lines’
06/12/2023
FTSE on front foot ahead of Fed and ECB rate calls
A big week for interest rate decisions from both the US Federal Reserve and European Central Bank sees the FTSE 100 rise.
06/12/2023
Burges Salmon wins Private Client accolade at 2023 eprivateclient Excellence Awards
The firm has been successful in the ‘Private Client Law Firm (Full Service)’ category at the 2023 eprivateclient Excellence Awards
06/09/2023
FCA investigating Odey Asset Management as Crispin Odey faces sexual assault allegations - reports
Two brokers reported to be reviewing ties
06/09/2023
Privilege case helps clarify limit of legal confidentiality in Scots law
The university had already handed over a later version of the report that had been edited by its legal team.
06/09/2023
PIMFA warns of ‘halo effect’ from FCA marketing rules for crypto-assets
Crypto-assets are not regulated, are highly volatile and therefore high risk and should only be invested in by sophisticated investors that understand the risk they are taking, not mass market investors.
06/09/2023
Addleshaw Goddard: Financial Services & Banking News
All cryptoasset firms marketing to UK consumers, including firms based overseas, will need to comply with the UK financial promotions regime from 8 October 2023.
06/08/2023
FCA seeks to expand firms’ obligations to borrowers in financial difficulty
The FCA has been alive to this.
06/08/2023
UK export control law breaches attracting million pound civil penalties
Keen said: “The recent stats show that compound penalties around the million pound mark for breaching the UK’s export control laws are no longer uncommon.”
06/08/2023
Commerzbank files lawsuit with Frankfurt District Court for vacation of Gallileo building
Under the contractual agreement, Commerzbank is obliged to hand over a vacated building.
06/08/2023
FCA introduces tough new rules for marketing cryptoassets
The new rules come into effect as research from the FCA shows that the estimated crypto ownership has more than doubled from 2021 to 2022
06/08/2023
New Date Set in UBS French Money Laundering Case
The appeals court fell well short of the 2019 first-instance ruling, which had ordered UBS to pay 4.5 billion euros.