06/14/2021
International advice group opens second Cyprus office
Operation ‘will deepen our ability to operate and expand across the European region’
Legal, Regulation & Compliance
06/13/2021
Clarifications regarding the application of MiFiD to Luxembourg IFMs
This CSSF FAQ aims at clarifying under what circumstances and to what extent MiFID applies to IFMs
06/13/2021
Conman and crypto millionaire jailed for 37 years for fraud and money laundering
The man, who has been sentenced to 37 years in jail, made a habit of flaunting his wealth on social media, including his numerous travels and cosmetic surgeries.
06/13/2021
Italian heiress has five weeks to pay £1.83m in family trust row
She has so far paid five instalments totalling £166,666.65 and must now pay the balance by July 15 or face the threat of jail.
06/11/2021
EU takes Luxembourg to court over money laundering rules
European Commission started infringement procedure against Luxembourg in 2016 over late adoption of EU rules
06/11/2021
ILS funds need to consider their ESG standards
ILS fund managers from outside the EU who market their funds to investors within the EU will also need to be mindful of the SFDR's disclosure requirements.
06/11/2021
Bank for International Settlements and Bank of England launch Innovation Hub London Centre
The London centre will help advance Innovation Hub's work on priority themes.
06/11/2021
An attempt to ReAssure advisers: Company to stop denying transaction history requests
Solution 'going live this week'
06/11/2021
Bank regulators plot toughest capital rule for bitcoin
The Basel Committee on Banking Supervision, made up of regulators from the world's leading financial centres, proposed a twin approach to capital requirements for cryptoassets held by banks in its first bespoke rule for the nascent sector.
06/11/2021
FSCS pays out £3.75m on Greyfriars claims
Greyfriars was declared in default by the FSCS in April last year, after the lifeboat fund received at least one eligible claim against the firm.
06/11/2021
Asset management industry blasts “excessively high” fees for essential benchmarking data
The index market is dominated by three firms, FTSE Russell, S&P Dow Jones, and MSCI
06/10/2021
FCA introduces rule to protect customers from insurance ‘loyalty penalty’
As a result, the FCA included more guidance and detail on areas such as the treatment of incentives in the final rules.
06/10/2021
Constructive trusts and immovable property – English High Court grapples with a vexed question of Jersey law
It was common ground between the parties to the English proceedings that that question was a matter of Jersey law
06/10/2021
EU recommits support for the use of intellectual property rights in the Caribbean
The EU said intellectual property and innovation are critical components in fostering trade and investment as well as stimulating innovation and competitiveness in the private sector.
06/10/2021
Law firms: facing the pandemic head on
In the first few precarious months, law firms acted quickly to preserve cash, improving their debtor days, negotiating with banks and cutting partner distributions.
06/10/2021
Consultation Paper on the Codes and Guidance Documents proposed to be re-issued under Revision of Laws
The draft codes and guidance do not implement policy change but replicate the current codes and guidance with the incorporation of minor amendments such as updated references and new terminology where necessary.
06/10/2021
Considering climate change – the Guernsey Commission publishes updated Finance Sector Code of Corporate Governance
Climate change reduction targets will materially alter the economic world we live in over the coming years and may hopefully have a positive impact on our environment.
06/09/2021
Banks tested on climate crisis risks
Insurers will be assessed on the risks to their assets and liabilities, but were tested last year.
06/09/2021
Financial Ombudsman Service complaints rise across the FS Sector during pandemic
Financial services regulatory dispute resolution expert, and ex-FOS ombudsman, Anthony Harrison of Pinsent Masons, the law firm behind Out-Law, said the complaint data showed the impact of Covid-19 pandemic on lives and livelihoods has been profound.
06/09/2021
European Commission adopts new tools for safe exchanges of personal data
The Commission can adopt standard contractual clauses for the relationship between controllers and processors, as a tool to help to demonstrate compliance with the GDPR.