03/02/2021
EBA Revises Guidelines on Money Laundering
The Guidelines are central to the EBA’s work to lead, coordinate and monitor the fight against money laundering and terrorist financing.
Legal, Regulation & Compliance
03/02/2021
GAM to initiate orderly wind down of GAM Greensill Supply Chain Finance fund
GAM will ensure that all clients are treated fairly and is embarking on the process of returning their full investment to them in an orderly manner.
03/02/2021
Staying Afloat: New Measures to Support European Businesses
The massive policy support saved millions of European firms, accounting for over 30 million jobs.
03/02/2021
Divorce law change 2021: less blame, less pain
The “no fault” divorce law, due to become effective by autumn, is aimed to limit some of the blame and hurt that marital splits often entail. But what are the other implications of the change?
03/01/2021
European Central Bank demands veto for EU stablecoins
The ECB has also requested its rulings on stablecoins be binding on national authorities, and that those issuing stablecoins should be subject to the same liquidity requirements as banks and other financial institutions.
03/01/2021
EBA opens public consultation on ESG disclosure standards
The EBA has integrated proportionality measures that should facilitate institutions’ disclosures, including transitional periods where disclosures in terms of estimates and proxies are allowed.
03/01/2021
Global Britain: Beyond Brexit
The reality is probably somewhere in the middle, but there are good reasons to believe that the idea of a Global Britain is not too fanciful.
03/01/2021
Credit Suisse Suspends Greensill Funds
The Swiss bank will suspend a set of funds linked to specialist finance firm Greensill, which in turn maintains close ties to British steel magnate Sanjeev Gupta.
03/01/2021
UK ‘will respect constitution’ on ownership registers
A PARTNERSHIP between the UK government and Crown Dependencies respectful of ‘constitutional boundaries’ will deliver progress on publicly-accessible registers of company beneficial ownership.
03/01/2021
Carey Olsen supports M7 Real Estate on recent activity, including sale to Oxford Properties
The properties, which extend over a total of 214,000 sq ft, are fully occupied by a number of investment-grade tenants including SAP, Atradius and TSB, with an average unexpired lease term of 6.5 years.
03/01/2021
Overseas Territories also concerned about COI in BVI
CARICOM — an organisation of 20 states and dependencies — further said it is “dismayed” at how the COI was established with “no consultation, or prior communication between the UK government and the duly-elected government of
02/28/2021
Financial Regulation Update
The Regulations come into force in May 2021
02/26/2021
A guide to UK FCA Authorised Funds
Our new in-depth UK Authorised Funds Guide by Grania Baird, Jessica Reed and Beth Walsh takes a comprehensive look at the various structures and regulatory types of authorised funds as well as the parties involved in their establishment and management.
02/26/2021
Financial Regulation: Daily Update
The FCA would have imposed a substantial penalty on the firm, however it did not do this due to the impact that a penalty would have on the firm’s creditors, many of whom are consumers.
02/26/2021
UK data adequacy decisions issued by European Commission
The draft decisions show that the Commission intends to designate UK data protection standards as being "essentially equivalent" to those that apply in the EU.
02/26/2021
CJEU to rule on data protection breach damages
In addition to injunctive relief and information about his stored data, he also demanded damages under article 82 of the GDPR.
02/26/2021
MIFID Firms– What is the Central Bank of Ireland's Focus for-2021?
The CBI updated its COVID-19 FAQs to list factors investment firms should consider when looking to pay dividends and variable remuneration, given the impact COVID-19 has had on the markets and the economy in recent months.
02/26/2021
Cayman Islands, Morocco Placed on Terror-Financing Watch List
The Financial Action Task Force has added four jurisdictions to its list of countries subject to increased monitoring
02/26/2021
Firms' climate data reporting is improving, says Norway wealth fund
It holds stakes in around 9,100 companies worldwide and has set the pace on a host of issues in the field of environmental, social and corporate governance (ESG).
02/26/2021
'What the Right Hand Gives, the Left Takes Away': SDLT Surcharge for Foreign Buyers of UK Property Set to Come into Force
The surcharge applies to the purchase of properties in England and Northern Ireland only (Scotland and Wales having their own equivalent SDLT charges)