06/09/2021
Banks tested on climate crisis risks
Insurers will be assessed on the risks to their assets and liabilities, but were tested last year.
Legal, Regulation & Compliance
06/09/2021
Financial Ombudsman Service complaints rise across the FS Sector during pandemic
Financial services regulatory dispute resolution expert, and ex-FOS ombudsman, Anthony Harrison of Pinsent Masons, the law firm behind Out-Law, said the complaint data showed the impact of Covid-19 pandemic on lives and livelihoods has been profound.
06/09/2021
European Commission adopts new tools for safe exchanges of personal data
The Commission can adopt standard contractual clauses for the relationship between controllers and processors, as a tool to help to demonstrate compliance with the GDPR.
06/09/2021
Carey Olsen advises Starwood on RDI purchase and TISE listing
The transaction gives Starwood controlled affiliates 100% ownership of RDI REIT after a c.30% stake was acquired in the property investment business from South African investor Redefine in July last year.
06/09/2021
Yves Mirabaud: "Zero risk policy is not a solution"
In addition, the law on data protection has just been completely revised and strengthened.
06/09/2021
Subscription Line Finance – Irish Funds
This article sets out an overview and comparison of the most common regulated and unregulated Irish fund types
06/09/2021
Paris and Berlin look to dilute EU's strict bank capital rules
In 2019 the EBA warned that the parallel stack approach was not compliant with the Basel agreement.
06/09/2021
FCA willing to take on legal risk in firm crackdown
The board therefore did not consider that the existence of legal risk should prevent the FCA from taking such action.
06/08/2021
Norway’s Sovereign Wealth Fund Excludes 3 Firms for Rights Violations
Shapir Engineering and Industry, Mivne Real Estate, and Honeys Holdings were deemed an ‘unacceptable risk.’
06/08/2021
Bank of England publishes Discussion Paper on New Forms of Digital Money
The Bank of England has today published a Discussion Paper which aims to broaden the debate around new forms of digital money and seek views on the Bank’s emerging thoughts on the subject.
06/08/2021
Gefion Insurance A/S declared bankrupt
It operated in the UK on a freedom of services basis which means that some customers, both individual and small businesses, based in the UK have held policies with the firm.
06/08/2021
Esma publishes framework for CCP stress tests
The 2021 Stress Test addresses credit and concentration risks, and uses improved methodologies, including lessons learned from previous exercises, such as assessing the combination of concentration costs and credit losses when liquidating defaulting portf
06/08/2021
EBA makes recommendations for reducing supervisory reporting costs
In the report the EBA identifies 25 recommendations aimed at reducing the costs of compliance with supervisory reporting requirements focusing primarily on small and non-complex institutions
06/08/2021
Five steps to business continuity in UK financial services – managing third party risk
When disruption occurs, it is important for effective crisis communication measures to be put in place
06/08/2021
AML and Brexit: golden opportunity or time to close the vault?
Lawyers are encouraged to undertake risk assessments for each client, basing their judgement on a holistic consideration of multiple factors.
06/08/2021
Philippine investigators accuse ex-Wirecard COO of fraud, cybercrime
The Philippine central bank has said previously the money never entered the country's financial system.
06/08/2021
Gibraltar regulator restructures amid surge in financial firm applications
This is the latest step in our approach to improving stakeholder engagement."
06/08/2021
EFAMA welcomes proposed transitional period under Article 8 of the taxonomy
Financial undertakings' taxonomy disclosures cannot take effect at the same time as disclosures of investee-companies.
06/07/2021
Why use a regulatory hosting umbrella?
This means that the unregulated firm can carry out regulated activities prior to obtaining direct authorisation by the FCA.
06/07/2021
Hogan Lovells advises Commerzbank
The shareholders' meeting of Vonovia SE resolved a dividend payment of EUR 1.69 per share on 16 April 2021.