11/10/2021
Non-Resident Directors of UK Companies visiting the UK
There are some harsh penalty rules and anyone with a UK subsidiary should be aware of the implications and be ready to make some changes.
Legal, Regulation & Compliance
11/10/2021
Basel III: Member states see national financial stability at risk
The capital requirements are meant to make banks more resilient to economic shocks and should thus increase financial stability.
11/09/2021
Financial Regulation: Daily Update
The regulations come into force on 30 November 2021.
11/09/2021
Financial Services and Banking News
The CMA states that progress is being made with the appointment of a new Independent Trustee and the first non-executive director.
11/09/2021
The Bank of England’s approach to tiering incoming central counterparties
The Bank will undertake a more detailed assessment of systemic importance for CCPs meeting one or more of these indicators.
11/09/2021
Ogier in Jersey advises Arax Properties and Eurazeo on London property acquisition
Arax Properties, an independent real estate operating partner with assets in the UK, France and Germany, made the investment alongside JV partner Eurazeo Patrimoine, the real estate division of the listed Eurazeo group.
11/09/2021
FCA under fire over LV sale
It is now clear that the two most valuable bids received by the Liverpool Victoria board were from Bain Capital and crucially, another mutual, Royal London.
11/09/2021
UK regulator raises concerns over cost of processing card payments
The PSR said it would now work with the payment services provider industry to develop remedies that increase merchant engagement and make sure the market works better for them.
11/07/2021
Financial Regulation: Daily Update
The new rules will apply from 29 July 2022, when the FCA takes on responsibility for regulating and supervising the pre-paid funeral plans market.
11/07/2021
Netherlands Supreme Court overturns $50 billion ruling against Russia
The Supreme Court accepted that the Court of Appeal had wrongly rejected the claim by Russia regarding shareholders committing fraud in the arbitral proceedings.
11/05/2021
FCA denies focus on fund managers over transfer times
It was suggested this could be an area the regulator was giving increasing attention to.
11/05/2021
Pound on course for worst week since June after BoE decision shakes up market
Many investors were caught severely off-guard after the BoE refrained on Thursday from raising its benchmark interest rate.
11/05/2021
Financial Regulation: Daily Update
The Bank of England (BoE) has published a speech by Andrew Bailey, Governor of the BoE, on laying the foundations for a net zero financial system.
11/05/2021
FCA’s data lead sets out the regulator’s data agenda
The speech provided a useful round-up of the FCA’s focus on data across its operations and activities.
11/04/2021
LV members to get £110m in Bain Capital deal
Members will first vote on a special resolution to approve the acquisition of LV by Bain Capital, and then vote on the most effective way to complete the transaction through a scheme of arrangement.
11/04/2021
DP21/4: Sustainability Disclosure Requirements and investment labels
We are seeking initial views on new sustainability disclosure requirements for asset managers and FCA-regulated asset owners, as well as a new classification and labelling system for sustainable investment products.
11/04/2021
Financial Regulation: Daily Update
The FCA will provide interim updates on its work as part of its Business Plan and Annual Report in 2022.
11/04/2021
UK delays changes to KID regime
Trade association says it is encouraging the ‘FCA has listened to industry concerns’ to ‘get it right’
11/04/2021
UK to impose net zero transition plan requirements
The move to introduce new requirements around what the government referred to as “net zero transition plans” will be underpinned by the development of new standards on what a transition plan should look like and related metrics.
11/04/2021
Ex-Commerzbank Compliance Officer Loses Race Discrimination Suit
Ex-compliance worker alleged he was subject to racist tropes