04/13/2021
The war against money-laundering is being lost
The global system for financial crime is hugely expensive and largely ineffective
Legal, Regulation & Compliance
04/13/2021
Denmark charges six from US, UK over tax fraud scheme
The six people were charged with running the scheme via Germany’s North Channel Bank in 2014 and 2015, the prosecutor said.
04/13/2021
Police seek arrest of Italian middleman in Vatican property deal
Police code-named it “Operation Broking bad,” an apparent play on the TV series “Breaking Bad”.
04/13/2021
Cyprus Launches New Registry that Identifies Company Owners
The plan included the establishment of the UBO registry - an already existing obligation under the EU’s 4th anti-money laundering directive.
04/12/2021
Barclays respond after plea to rethink closure of Newton Aycliffe branch
In his letter to Barclays Cllr Marshall, the cabinet portfolio holder for economic regeneration, said the closure comes as the area is seeing business and residental growth.
04/12/2021
HSBC scam warning as Britons attacked by vicious ‘alert’ text message - be vigilant
HSBC has issued another warning to Britons as many have reported being targeted by a vicious text scam within the past 48 hours.
04/12/2021
UK set to secure Brussels’ backing for joining legal pact
European Commission to drop objections to British membership of Lugano convention
04/12/2021
Carey Olsen advises Emergent Capital on completion of its restructuring
Working alongside the transaction's lead legal advisers Kelley Drye & Warren LLP and Arthur Cox, the Carey Olsen team advising Emergent on the Cayman corporate and regulatory aspects of the restructure was led by partner Alistair Russell and coun
04/12/2021
Controversial fundraising rules for NGOs being watered down
The rules will be redrafted after consultations
04/12/2021
Bank of England tops private investors as biggest holder of gilts
‘Striking’ rise in UK government debt holdings comes as central bank stepped up QE during Covid crisis
04/12/2021
No turning back - An update on the key elements of DAC6 for EU member states
The principal objective of DAC6 is to provide tax authorities with early warning of arrangements that may involve aggressive tax planning.
04/09/2021
Financial Regulation: Daily Update
The LSB will be updating the Information for Practitioners documents on a rolling basis to help firms adhere to the revised Standards.
04/09/2021
Swiss Court Denies Appeal by UBS' French Clients
The court noted that the question of «fishing» for data had already been decided by Switzerland's supreme court.
04/09/2021
SFDR data gaps and admin burdens challenge fund managers: UBS
UBS expects the new regulations to encourage inflows into ESG strategies.
04/09/2021
Law firm Irwin Mitchell gears up for London stock market float
Irwin Mitchell is readying itself to float on the London Stock Exchange, in a move the law firm hopes would value it at around £500m.
04/08/2021
Financial Regulation: Daily Update
FSB survey on experiences with questionnaire for FMIs on continuity of access for firms in resolution
04/08/2021
EBA consults on the list of advanced economies to determine equity risk under the new market risk regime
Institutions using the alternative standardised approach to determine own funds requirements for market risk are required to compute the equity risk
04/08/2021
Baker McKenzie advises on €300 million high yield green bond issuance by Vía Célere Desarrollos Inmobiliarios, S.A.
This was the first green bond ever issued by a residential developer in the Euro market.
04/08/2021
Ex-SocGen Bankers Challenge Fines Over Putin Foe’s $700 Million Deposits
Sergei Pugachyov, a former Russian senator, was once a close confidant of Putin and amassed a fortune of more than $1 billion in the 2000s.
04/08/2021
Record French Fine Slashed as Latvian Bank Wins Tax Appeal
The penalty was eclipsed just a year and a half later when the PNF secured a 3.7 billion-euro fine in court against UBS Group AG.