05/14/2021
AssetCo to acquire Saracen Fund Managers in £2.8m deal
Subject to regulator approval
Legal, Regulation & Compliance
05/14/2021
PIMFA welcomes FCA proposals to enhance consumer protections but warns against unintended consequences
o that end we agree with the Financial Conduct Authority (FCA) that ensuring a high level of protection is a key part of ensuring consumer confidence.
05/14/2021
German 10-year bond yield holds below -0.1% as inflation concerns ease
The 10-year U.S. Treasury yield was down one basis point at 1.6539%.
05/13/2021
PIMFA welcomes publication of Online Safety Bill but urges Government to do more to tackle clone investment fraud and fake online adverts
But while the Bill attempts to tackle fraud via user generated content on social media sites and dating apps, paid for online adverts from fraudsters and cloned – and therefore fake – investment firm websites appear conspicuous by their absenc
05/13/2021
Doing business in the Netherlands
The country’s very stable political economy, highly educated workforce, extensive double tax treaties and pragmatic culture add to the country’s allure, especially for large and multinational companies.
05/13/2021
German Regulator Orders Digital Bank N26 to Improve Money-Laundering Controls
The regulator has been sharply criticized for failing to act despite several signs of trouble.
05/13/2021
Clarification for banks on the Quincecare duty and dishonest assistance
This is a welcome judgment, clarifying the scope of the ‘Quincecare’ duty owed by banks to their customers, and providing guidance on ‘collective’ dishonest assistance against a corporate entity.
05/13/2021
Latham & Watkins Advises on THG's US$1 Billion Capital Raise
London corporate team represents the bookrunners in a capital raise by UK ecommerce and technology company THG.
05/13/2021
Ashurst advises Norddeutsche Landesbank
The German private equity investor HANNOVER Finanz acts as equity provider for medium sized enterprises in the D-A-CH region.
05/13/2021
Ashurst advises Ardian Private Debt, Bank of Ireland and NIBC Bank
Ashurst regularly provides advice on acquisition financings and refinancings in the German care market.
05/13/2021
Access to cash FCA and PSR joint statement
The overall decline in the use of cash makes it more expensive to maintain the existing infrastructure that supports it.
05/13/2021
Guernsey Update: New Plans for Bringing Partnerships in Scope of Economic Substance Rules
These changes will be most relevant to the funds industry in Guernsey
05/13/2021
Do we need ‘public money’? - speech by Jon Cunliffe
The Bank of England has issued banknotes for over 300 years. Jon Cunliffe talks about future of money in the UK in an increasingly digital world.
05/13/2021
Financial Regulation: Daily Update
The FCA has updated its statement on the firm handling of complaints during Covid-19 to state that, as of 1 May 2021, the statement is no longer in force.
05/12/2021
Luxembourg CSSF Publication Of Guidance On Teleworking
The CSSF also confirms that the circular does not create any precedence for employees to claim a right to remote working
05/12/2021
Share-Capital Reductions in Ireland
Where a director makes the above declaration without reasonable grounds, certain parties (including creditors or liquidators) may apply to court to hold directors who made the declaration personally liable for all or any of the company’s debts.
05/12/2021
Ashurst advises Equitix
Following a competition across the bank and PP market, Macquarie Asset Management was selected as sole lender providing facilities separately into each Fund, in both RPI and SONIA format.
05/12/2021
Shall we summer in Saint Tropez, darling? Ban for non-essential travel into the EU to be lifted soon
The Commission proposes to lift travel restrictions for people who have received the last recommended dose of an EU-authorized vaccine at least 14 days before arrival to the EU.
05/12/2021
Financial Regulation: Daily Update
The FCA has updated its webpage on the business interruption (BI) insurance test case in relation to insurer claims data.
05/11/2021
FNZ takes aim at CMA’s ‘inconsistent’ approach
The CMA’s original phase two decision, found that FNZ selling the entire GBST business was necessary to address its competition concerns.