03/16/2022
Ukraine: Talk of Full Confiscation Risks «Rule of Law»
The UK government is discussing whether to place refugees in the mansions of wealthy Russians, effectively confiscating them.
Legal, Regulation & Compliance
03/16/2022
Foreign Secretary announces historic round of sanctions on Russia
Liz Truss announces historic round of sanctions, taking the overall number of UK sanctions on Russia to more than 1,000 since the invasion of Ukraine.
03/16/2022
UK regulators warn cryptoassets cannot be used to circumvent sanctions
Financial crime and intelligence expert Hinesh Shah of Pinsent Masons said the statement puts the cryptoasset industry on notice that UK regulators will act against sanction breaches, and that attempts by sanctioned parties to use cryptoassets to circumve
03/16/2022
Fast-changing sanctions environment poses risks for borrowers
Loan documents often contain more onerous sanctions provisions than those prescribed by government.
03/16/2022
Bank of England joins effort to safeguard Ukraine’s assets as country faces economic devastation
Exclusive: The governor of the Bank of England, Andrew Bailey, offered his support to his Ukrainian counterpart
03/16/2022
UK to end extradition to Russia
This move by the Government firmly slams the door shut.
03/16/2022
FCA defends register in response to watchdog’s LCF criticisms
The scandal was dubbed one of the “largest regulatory failures in decades” at the time.
03/16/2022
Asset protection for foreign investors in Russia: international and domestic remedies
Russia has IIAs in force with various States.
03/16/2022
FCA to consult on use of 'side pockets' for retail funds with exposure to sanctioned and suspended Russian assets
Side pockets would potentially give authorised fund managers the option to separate Russian and Belarussian assets, that are difficult to sell and/or hard to value, from the fund’s other core investments.
03/15/2022
Update on the market share test under the ancillary activities exemption for commodity derivatives
As part of verifying that they fulfil these criteria, firms are currently required to perform the ‘market share test’ and the ‘main business test’ as set out in UK MiFID RTS 20.
03/15/2022
Hill Dickinson advises Maven on US$8.3m co-investment deal into fintech Delio
The software enables financial institutions to offer a more intuitive investment experience, enhance their operational efficiency and gather invaluable user insights.
03/15/2022
Not All Oligarchs Sanctioned Equally
Melnichenko who resides in St. Moritz, Switzerland, joined 13 other Russian oligarchs on the EU sanctions list.
03/15/2022
Dentons to separate from its Russia offices
This is a difficult decision which we have taken in full consultation with our colleagues in Russia in order to continue meeting our legal and ethical obligations.
03/15/2022
New Powers for Companies House sweeping in to oversee British and Overseas Business Entities
Companies House will, in future, play a major role in preventing the abuse and the reforms to the role of Companies House will be fundamental to the control of white-collar financial crime.
03/15/2022
Financial Regulation:Daily Update
It also discusses: the FCA’s approach to ex gratia payments/compensation; the complaints scheme factors; and the remedies statement.
03/14/2022
World’s Central Banks Set Policy for Economies Shaken by the War
Fed takes center stage among eight members out of Group of 20
03/14/2022
Joint statement from UK financial regulatory authorities on sanctions and the cryptoasset sector
The FCA has already written to all registered cryptoasset firms and those holding temporary registration status to highlight the application of sanctions on various entities and individuals.
03/14/2022
Will FCA proposals to improve access to advice be successful?
While some of these people will have reasons for doing so, we take the view that many of them simply do so because they are either unable to access an investment product or are unwilling to do so.
03/14/2022
European financial institutions turn their back on Russia
Deutsche had argued that it needed to support multinational firms doing business in Russia.
03/14/2022
Supreme Court finds in favour of right to privacy for those subject to criminal investigation
The Court of Appeal upheld this decision.