08/27/2021
Remote right to work checks to continue until 5 April 2022
In many cases, this involved meeting the employee and checking their documents in person.
Legal, Regulation & Compliance
08/27/2021
Frontier workers: Swiss government adopts new agreement with Italy
The new agreement will enter into force once the Italian parliament ratifies it.
08/27/2021
Germany and US issue joint statement on spontaneous exchange of CbC reports for 2020
According to the German regulations, in the absence of such an information exchange agreement, a German taxpayer must submit the group’s CbC report to the German competent authority, even if the ultimate parent company submitted the report on time
08/26/2021
Danske Bank defeats appeal in U.S. over money laundering scandal
Their lawyers did not immediately respond to requests for comment.
08/26/2021
US probes Deutsche Bank's asset management arm over sustainability claims
The agency earlier this year established a task force to root out misconduct related to environmental, social and governance issues.
08/26/2021
Mounting workloads and staff struggles: Can the FCA keep up?
A mounting workload is throwing up tough decisions for the regulator
08/25/2021
Hundreds of advisers give up permissions during pandemic
Recent data found many UK advice firms saw a decline in profitability through 2020, despite some of the larger firms reporting profitable years.
08/25/2021
LCF investors drop appeal against FSCS
The issue of compensation from the FSCS has been a matter of debate as mini-bonds are unregulated investments and therefore not protected by the scheme.
08/25/2021
Kirkland Represents Nordic Capital
The transaction is expected to close in late 2021
08/25/2021
Report: Italian Mafia Exploits Cryptocurrency and the Deep Web
The anonymity offered by the online markets is particularly valuable to the criminals amids the pandemic
08/25/2021
Former Santander employee accused of multimillion-pound fraud
Belfast man (39) to stand trial on 66 counts of fraud by abuse of position with bank
08/25/2021
EY fined more than £2m over Stagecoach audit failings
Big Four firm and former partner receive severe reprimands from UK accounting watchdog
08/25/2021
Financial Regulation: Daily Update
The FCA will next write to firms in this portfolio in 2023 when it will provide its updated view of the key risks firms in this portfolio pose, the extent to which these risks are being mitigated, and the FCA's updated supervisory plans as a result.
08/25/2021
FCA warns insurance firms over product governance rules deadline
Part of the FCA’s ongoing work to ensure consumers receive fair value, the review looked at how firms designed, sold and reviewed their products to ensure they met the needs of their customers.
08/25/2021
General insurance product value and coronavirus (Covid-19) Guidance – update
Customers should be able to expect fair value from the financial services products they buy.
08/24/2021
The EBA updates data used for the identification of global systemically important institutions (G-SIIs)
The EBA, acting as a central data hub in the disclosure process, updates this data on a yearly basis and provides a user-friendly platform to aggregate it across the EU.
08/24/2021
Coronavirus and UK rent recovery
Given the scale of the rent shortfall (in the billions), the government is framing the arbitration system as a ‘last resort’ for landlord and tenants who are still expected to try to reach an amicable agreement.
08/24/2021
Frenkel Topping enters fifth joint venture
Mark Holt, managing director of Frenkel Topping Limited, said: "We have known and worked with the Pattinson Brewer team for many years."
08/24/2021
London Capital & Finance investors drop court appeal against FSCS
Customers who lost money in the collapse of mini-bond company London Capital & Finance (LCF) have withdrawn their judicial review appeal against the Financial Services Compensation Scheme (FSCS).
08/24/2021
Key market developments in the Isle of Man
The Isle of Man Government recently passed the Beneficial Ownership (Amendment) Act 2021 which comes into force on 1 September 2021.