01/04/2021
MoUs with European authorities in the areas of securities, insurance and pensions, and banking
The MoUs came into effect at the end of the transition period.
Legal, Regulation & Compliance
01/04/2021
Financial Regulation Update
The FCA has also updated its webpage on transitional directions, and has published a new webpage on onshoring updates to its Handbook and Technical Standards. [22 Dec 2020]
01/03/2021
Report: Cyprus Failed to Act Even When Warned of Shady Passport Buyers
A report put together by a committee and released on Tuesday said that even when authorities were in possession of disqualifying details about a candidate, they did not act.
12/31/2020
Banks are among the biggest risers on UK’s green light for Oxford-AstraZeneca vaccine
Lenders bounce back after post-Christmas fall as new inoculation is approved
12/30/2020
EU batteries regulation aims to reduce reliance on China imports
Europe wants to become a major player in sustainable battery production
12/30/2020
Malta Business Bureau welcomes EU-UK Free Trade Agreement
Cautions about ‘substantial’ implementation challenges
12/30/2020
Analysis: Thumbs up for emerging markets' QE experiment but risks loom
Emerging market watchers such as David Hauner at BofA are broadly positive on the results.
12/30/2020
PRA statement on the EU requirement on prudential treatment of software assets
CRR Article 36(1)(b) exempts software assets from the deduction requirement for intangible assets from Common Equity Tier 1 (CET1)
12/29/2020
7 major changes coming to UK laws in 2021 including travel to the EU, data roaming and more
New year, new rules - find out what some of them will be
12/29/2020
Italy business lobbies urge EU to ease credit default rules
The letter echoes concerns previously raised by Italian banks over a stricter definition of default kicking in from January, as well as on so-called calendar provisioning rules, which force banks to write down impaired loans in full over a set number of y
12/29/2020
Greece To Begin Early Repayment Of $4.4Bln In IMF Loans - Finance Minister
The Greek government is choosing to repay the loans early in order to optimize the country's fiscal resources and reduce both interest rates and the risk of currency volatility.
12/29/2020
Italian Princess to appeal against £2 million contempt of court fine
AN Italian princess and TV star has been fined £2 million for contempt of Jersey’s Royal Court and says she will appeal against the ruling in the latest twist in a decade-long battle over a £100 million family trust fund.
12/29/2020
Europe Urged to Keep Firebreaks Banks Blame for Blocking Mergers
“Many of the proposals floated especially by bank CEOs would do that.”
12/29/2020
U.K. Banks, Homebuilders Likely to Rise After Brexit Deal Struck
The pact should give rise to the “unwinding of the uncertainty discount” which has meant U.K. shares have been unloved since the 2016 referendum to leave the EU, Dan Nickols, head of U.K. small and midcap strategy at Jupiter Fund Management, w
12/29/2020
EIS promoter enters default
A declaration of default means the FSCS is satisfied the firm is unable to meet the eligible claims made against it.
12/28/2020
UK and EU strike an agreement on their future relationship
Although procedures will be put under unprecedented time pressures, our expectation is that the agreement should be able to be ratified by both the EU and UK sides as required to come into force in time for the deadline.
12/28/2020
How will Brexit impact sanctions and money laundering rules in the UK from 2021?
This updated sanction list will comprise of the designations which the UK has chosen to carry over from the EU regimes, as well as those that the UK is obliged to implement under UN regimes.
12/28/2020
Large asset managers boost staffing in EU by 38% since 2015
Rise in headcount has been driven by market expansion, Brexit and greater regulation
12/28/2020
France and the Netherlands demand that the EU regulate ESG criteria that add transparency to the market – CVBJ
“During this year we have seen in Europe that the most important months of flows in ASG shares have taken place and 79% of these volumes came from European investors”, he highlights.
12/28/2020
What Does the Brexit Deal Mean for Financial Services?
London’s financial markets prospered in the last four decades as the U.K. capital became the pre-eminent EU hub for lending, trading and investing.