09/15/2021
Another step in the transformation of the FCA: Using the new cancellation and variation power
The RDC will follow the warning notice and decision notice procedure set out in DEPP.
Legal, Regulation & Compliance
09/15/2021
Financial Regulation: Daily Update
Under the strategy, the FCA has set out a number of targets to be reached by 2025
09/15/2021
Property scheme director banned for 9 years
More than £4.7m was raised from high net worth and ‘sophisticated’ investors EmailFacebookTwitterLinkedInPrint
09/15/2021
BofE warns banks about regulatory reporting failures
Firms have not prioritised investment in regulatory reporting, focusing on "tactical fixes" and relying on "significant manual intervention to fill data and system gaps," leading to a higher risk of errors.
09/14/2021
Crypto ETF assets treble as investors take risks
Regulators and advisers are divided on digital currency and ‘inverse’ funds
09/14/2021
Investment funds: new rules for distribution and pre-marketing in Germany
Germany has extended the concept to semi-professional investors.
09/14/2021
Clifford Chance advises Ohpen
The funds will be directed towards expansion efforts into markets such as the UK and deepening Ohpen’s market-leading functionality.
09/14/2021
UK Announces 'Dirty Money' Crackdown, Including Tougher Crypto Regime
The U.K. government has drawn up an action plan aimed to combat financial crimes that it says will include a new regime for crypto assets.
09/14/2021
Notary fined €62,000 for breaching anti-money laundering rules
UBO shortcomings among main reasons FATF greylisted Malta
09/14/2021
EIOPA publishes the criteria for the independence of supervisory authorities
The criteria provide clarity for supervisory authorities on EIOPA’s expectations.
09/14/2021
Portugal’s Golden Visa program and the special tax regime for non-habitual residents
For those planning to apply for a Golden Visa, it is important to note that significant changes to eligible investments are being implemented from January 2022
09/14/2021
Financial Regulation: Daily Update
The note sets out the notification requirements for operators of a designated system and the information that the BoE will gather to satisfy the requirements.
09/13/2021
FCA policy development update
Given the importance of robust regulatory returns, the PRA expects all banks, designated investment firms and building societies to consider the findings in the letter and any work they may need to do to remediate applicable issues.
09/13/2021
Maltese trusts – an attractive estate planning tool
Anjelica Camilleri de Marco, Senior Associate in Malta, outlines the adoption of trusts in Malta and examines their tax treatment.
09/13/2021
ESMA guidelines on marketing communications
The guidelines will apply six months after the date of the publication of the guidelines on ESMA’s website in all EU official languages, ie from 2 February 2022.
09/13/2021
The definition of insanity or the ECB’s approach to QE?
But the ECB and other central banks have been all too eager to jump at the chance to deploy these measures since the global financial crisis, and they are utterly convinced of their success.
09/12/2021
Financial Regulation Daily Update
It points to the following as areas that firms should look
09/12/2021
The new EU Commission AML/CFT legislative package revealed
If adopted as such, it will trigger substantial amendments to the current AML/CFT framework.
09/12/2021
UK - Proposals to reform the GDPR are significant but not radical
The key uncertainty is whether it will provoke the EU into revoking its adequacy finding for data transfers to the UK.
09/12/2021
The ultimate punishment – Fines which threaten the viability of a company
The £90 million penalty is more than four times the previous record of £20.3 million imposed on Thames Water in 2017 following environmental breaches.