03/28/2022
New UBO Register established in Lithuania
Currently only UBOs (natural persons) can be registered in the initial stage
Legal, Regulation & Compliance
03/28/2022
High-End Swiss Watches Confiscated in Russia
It is hard to think of something more symbolic of Switzerland than watches.
03/28/2022
Senior manager misconduct investigations halve in 2021
Only two penalties since 2016
03/25/2022
Europe agrees new law to curb Big Tech dominance
"The agreement ushers in a new era of tech regulation worldwide," said German MEP Andreas Schwab, who led the negotiations for the European Parliament.
03/25/2022
Central bank digital currency platform shows progress in fintech
The prototypes of a shared platform for central bank digital currencies highlight the progress in distributed ledger technology.
03/25/2022
Clifford Chance advises HSBC and Standard Chartered Bank
The Clifford Chance team was required to advise across English, Singapore, EU and US federal securities laws aspects of the transaction.
03/25/2022
Foreign Secretary announces 65 new Russian sanctions to cut off vital industries fuelling Putin’s war machine
New sanctions target strategic industries, banks and business elites.
03/25/2022
Core role of Irish regulator in EU data protection cases highlighted
The purpose of the mechanism is to allow businesses to deal with just one data protection authority (DPA) in relation to their EU operations, as opposed to DPAs across all EU member states.
03/25/2022
Tory minister names and shames two more City law firms that worked for Russian oligarchs
Cleverly’s comments come after Foreign Secretary Liz Truss said the government’s efforts to sanction oligarchs had been hindered by legal threats.
03/25/2022
Deutsche Bank stops accepting rich Russian expatriates as clients
Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict.
03/24/2022
Bank to pay damages after ‘inaccurate’ client data sent to US
His personal information was shared to comply with Fatca, despite him not being American
03/24/2022
MALTA: Submitting reports via goAML in line with regulation 15(4) of the PMLFTR
SPs were therefore requested to report a TRN for every pending transaction in addition to the STR/SAR.
03/24/2022
FATF Publication on ML/FT risks arising from Migrant Smuggling & FATF Public Statement on the situation in Ukraine
The FIAU strongly encourages subject persons to consult this publication which is accessible on the FIAU website.
03/24/2022
Supporting consumers through tough times – priorities for credit regulation
Those changes will be having significant effects on firms across consumer credit, and a real impact on consumers, with much more change to come.
03/24/2022
Letter from Sam Woods to Chief Executive Officers of banks and designated investment firms on the treatment of cryptoassets under the current frameworks
Firms should consider whether the standardised approach captures the full counterparty credit risks associated with many cryptoassets.
03/24/2022
Ashurst advises lenders on debt refinancing of Archmore Emerald Italy
The Ashurst team that advised Intesa Sanpaolo and Unicredit, was led by partner Carloandrea Meacci supported by associates Paolo Gallarà, Fabrizio Bergo and Andrea Enni.
03/24/2022
Financial Services and Banking News
The notice also contains guidance to help advertisers understand how to comply.
03/24/2022
Financial Regulation: Daily Update
The FCA has published a notice to FCA regulated firms reminding them of their existing obligations
03/24/2022
BNY Mellon Fund Services fined €10.8m by Central Bank of Ireland
The investigation into BNY DAC found systemic weakness across its entire outsourcing framework.
03/24/2022
Legal differences noted between UK bans on Russian aircraft and vessels
Airport operators are now able to direct pilots in command of Russian aircrafts whether to take off or not or order them not to land.