05/13/2022
Swiss Government Unblocks Some Russian Assets
Since April 7, 2.2 billion francs had been newly reported while 3.4 billion francs blocked as a precaution, have been released.
Legal, Regulation & Compliance
05/13/2022
MiFID II post-trade reporting: The importance of 3-way reconciliations
The introduction of MiFID II meant that rules were harmonised not only for member states but also for those firms with E.U clients.
05/13/2022
Ex-UBS banker loses appeal over selling client data to Germany
It dismissed his argument that the lower court had conducted proceedings in an inadmissible manner.
05/12/2022
Herbert Smith Freehills Financial Regulation Daily Update
It also highlights that there are no consumer protections for those who buy cryptoassets and NFTs, and that they are not protected under the Financial Services Compensation Scheme (FSCS).
05/12/2022
FCA issues warning on cryptoasset social media posts
Although it cannot comment on individual products, the City watchdog said investors should be aware that the FCA does not have regulatory oversight over direct investments in cryptoassets and NFTs.
05/12/2022
Bailey to be grilled by MPs over BSPS saga
Bailey was head of the FCA from 2016-2020, during which time it came to light that thousands of steelworkers had been misadvised to transfer out of their defined benefit pension scheme.
05/12/2022
Addleshaw Goddard: Financial Services & Banking News
The Financial Services and Markets Bill is described as a piece of legislation that will 'strengthen the United Kingdom’s financial services industry, ensuring that it continues to act in the interest of all people and communities'.
05/12/2022
CASS Compliance: The importance of good governance
One of many challenges facing firms is building a culture that promotes change and innovation
05/12/2022
Ukraine adds pressure to Malta over golden passports, Finland to join Nato without delay
"This has long been more than just business in Russia, but the structures associated with the aggressive Russian state."
05/11/2022
Herbert Smith Freehills Financial Regulation Daily Update
The FCA plans to publish its final report on the multi-occupancy buildings insurance market by 28 July 2022.
05/11/2022
EU sanctions: application of trusts measures outside the private trusts sphere
They also apply to all business done by non-EU persons in whole or in part within EU territory, including its airspace and on any aircraft or vessel under an EU member state's jurisdiction.
05/11/2022
Tax Tribunal confirms documents sought by HMRC were legally privileged
This decision reinforces the position that communications between a lawyer and client will generally attract LPP.
05/10/2022
FSCS declares two advice firms
The FSCS said it has received 16 claims against the firm in total, of which 10 are in relation to Sipps, three for investment advice and three for pensions advice.
05/10/2022
What can advisers expect from the Queen's Speech?
The Queen's Speech marks the state opening of parliament and outlines the programme of legislation the government intends to progress during the new parliamentary session.
05/10/2022
Five individuals banned and fined for causing losses to pension customers
These customers had been referred to them by Hennessy Jones which was also involved in designing the pension advice process used by these firms.
05/10/2022
China Assets Blacklisted by Dutch Fund Manager
Screening tool shows India just scraping by, and the U.S. performing poorly on environment.
05/10/2022
Financial Regulation: Daily Update
Regulation 2 brings into force certain provisions of the Act on 1 June 2022 relating to requirements to refer individuals to pensions guidance in certain circumstances.
05/10/2022
Addleshaw Goddard: Financial Services & Banking News
The ESA's deadline for submitting amendments to the SFDR Delegated Regulation to the Commission is 30 September 2022, due to the urgency of the matter.
05/10/2022
Pandora Papers shed light on ‘gatekeepers’ of dirty money
MONEYVAL rebuked governments across Europe for failing to combat money laundering or police lawyers, accountants and other professionals who facilitate financial crime.
05/10/2022
Clifford Chance represents Dario Schiraldi on successful appeal against Monte dei Paschi derivatives conviction
Lead judge Angela Scalise overturned the previous ruling, stating that there was no case to answer.