12/13/2021
AIFMD 2.0: European Commission Publishes Legislative Proposals
The Proposals also contain similar changes to the UCITS Directive to align delegation, liquidity risk management and regulatory reporting more closely
Legal, Regulation & Compliance
12/13/2021
French court set to rule on record UBS fine
The Paris appeals court is set to rule on whether to confirm or adjust the penalty against Switzerland's largest lender, which was imposed after an initial trial in 2019.
12/13/2021
Sustaining impact: ESG considerations for Guernsey trustees and family offices
ESG, which is often used interchangeably with the term “sustainable investing” is increasingly tied up to a company’s long-term financial performance and success.
12/13/2021
Clients raise concerns over Quilter International still taking fees from a mis-sold fund
These investments have been frozen since 2008 and are now administered by JTC Fund Solutions (Guernsey) Ltd.
12/13/2021
UBS can get reduced buses in France
The UBS share reacted at times with a price increase of 3 percent on the stock exchange.
12/12/2021
Transforming data collection communication to firms – 8 December 2021
Communication to firms to provide an update on the progress of the joint transformation programme, which is being led by the Bank of England, FCA and industry to transformation data collection from the UK financial sector.
12/12/2021
Platform Work Directive finally places the workers at the centre of concern
CECOP’s reaction to European Commission’s proposal for a Directive on improving working conditions in platform work.
12/12/2021
Financial Regulation: Daily Update
The PRA and FCA expect firms to carry out systemic reviews of their equity finance businesses and the risk management practices and controls deployed in those businesses benchmarked against the finding set out in the annex.
12/12/2021
EBA Report On The Application Of The Guidelines On The Remuneration Of Sales Staff
To that end, the EBA conducted a survey amongst a sample of 70 financial institutions from 12 Member States.
12/12/2021
Joint letter to banks operating in the UK
Our observations include weaknesses in the holistic management of risk across business units
12/12/2021
New transfer rules for combatting pension scams
The new requirements (and everything in this article) only apply to statutory transfers.
12/10/2021
Carey Olsen supports Caribbean Investment Holdings
The Carey Olsen team advising CIHL on all Bermuda related legal and regulatory aspects associated with the transaction comprised corporate partner Steven Rees Davies and associate Keivon Simons.
12/10/2021
HSF: Financial Regulatory: Daily Update
The FCA will oversee the implementation of the recommendations and will publish a final update in its 2022 annual report.
12/10/2021
JPMorgan Ordered to Give $600,000 Job to Trader It Fired
Judge Stephen Knight on Thursday refused to order the bank to reinstate Jones into the same role he’d been dismissed from in London
12/10/2021
So long LIBOR – 3 weeks to go
New use of US dollar LIBOR is also to cease, a key landmark on the end to the US dollar panel just 18 months later.
12/10/2021
Belgium: Draft bill including new tax regime for expatriates submitted to parliament
The company brought an administrative appeal against the order.
12/09/2021
Financial Regulation: Daily Update
This list is accompanied by a CET1 Report, which includes information on the underlying objectives of the monitoring as well as on the consequences of including or excluding instruments in or from the CET1 list.
12/09/2021
Momentum and STM lose Malta appeals
Compensation pay-outs for former Continental Wealth clients upheld
12/09/2021
Ireland Update – CBI Dear CEO Letter on MiFID Suitability Requirements
The purpose of the Letter is to provide feedback to industry on the findings of the review and to outline the CBI’s expectations in relation to the application of the MiFID II suitability requirements.
12/09/2021
UBS' Legal Life After French Ruling
The potentially more harmful side effect may be if UBS is convicted of money laundering