03/31/2021
FINMA lifts ban on acquisitions
This decision is based on a status report from FINMA’s mandated auditor
Legal, Regulation & Compliance
03/31/2021
FG21/3: Advising on pension transfers
This Finalised Guidance (FG) provides non-Handbook guidance to help advisers understand our expectations when advising on pension transfers and conversions.
03/31/2021
Mandatory climate disclosures 'risk unnecessary complexity'
The BEIS consultation closes on 5 May 2021, and the government said new regulations would come into force on 6 April 2022, applying to financial periods starting on or after that date.
03/31/2021
Working group publishes Carbon Reduction Code for built assets sectors
Sustainability experts from the Environment Agency and the HS2 rail project are working with CSIC to help explore and develop the code and to help build wider engagement.
03/31/2021
Future consultation on strengthening investor protections in Special Purpose Acquisition Companies (SPACs)
The consultation will consider the structural features and enhanced disclosure, including a minimum market capitalisation and a redemption option for investors, required to provide appropriate investor protection.
03/31/2021
Germany Ministry of Justice proposes wide-ranging protection for whistleblowers
The draft bill aims to expand the hitherto incomplete protection of whistleblowers and create legal certainty for them.
03/31/2021
SPACxit – can London save SPACs to secure its position in the new world?
In the UK, SPACs are considered cash shells which are not eligible for listing on the Premium segment of the Official List
03/31/2021
Changes to AIFMD Marketing Rules from August 2021 – How will these New Rules Impact Fund Managers?
The Marketing Rules also provide that where a draft prospectus or offering memorandum is provided as part of “pre-marketing”
03/31/2021
Ashurst advises on £563 million acquisition of Arrow Global
The acquisition will be funded by equity to be invested by funds managed by TDR Capital LLP and it is intended the acquisition will be implemented by way of a court-sanctioned scheme of arrangement.
03/31/2021
FCA urges Claims Management Companies and High Cost Lenders to work better t
All firms are also reminded of the need to have regard to previous FOS decisions when they are dealing with complaints.
03/30/2021
Co-op Legal Services warns of digital assets time bomb as 'unclaimed funds' pot swells
Figures released by Finder in February 2021* show that almost a fifth (19%) of Brits say they’ve now bought cryptocurrency - equivalent to 9.8 million people - meaning that the number of crypto-users in the UK has surged by 558% since the beginning
03/30/2021
A new year, a new set of arbitral rules: a summary of the key changes introduced in the 2021 ICC arbitration rules
This introduces greater flexibility in the manner in which hearings are conducted and allows for parties’ to ensure their voices are heard and cases are plead even if they are prevented from traveling physically to a hearing.
03/30/2021
Financial Regulation: Daily Update
The action outlined in the Decision Notice is therefore provisional and will have no effect pending the determination of the case by the Upper Tribunal.
03/30/2021
The FCA and the Bank of England encourage market participants in a switch to SONIA in the sterling non-linear derivatives market from 11 May
Where new LIBOR transactions are entered into, market participants should be aware of the risks and take appropriate steps to establish that their clients are too.
03/30/2021
Sanne secure first specialised depositary services licence in Ireland
The new licence expands Sanne’s already well-established product offering to cater for Irish domiciled closed-ended funds.
03/30/2021
The English High Court holds that “awareness” is required for LIBOR misrepresentation claim
The claimants contended that their loans were tainted by false representations on LIBOR.
03/30/2021
7IM suspends dealing in two funds over liquidity concerns
Based on two illiquid securities
03/30/2021
Vatican official ‘offered call girl as thank you for £300m Chelsea property deal’
Judge Tony Baumgartner dismissed the restraint orders on Torzi, who denies charges of embezzlement, fraud, extortion and money laundering.
03/30/2021
Better Growth Offsets Inflation ANGST
The first quarter of 2021 was most notable for the bond tantrum as inflation expectations in the market started to adjust to the reality of higher prices.
03/30/2021
Will 2021 be the year of special purpose acquisition companies (SPACs) in Luxembourg?
A SPAC is essentially a shell company formed with no business purpose or undertaking other than to raise funds for some future undefined object, and then later use the proceeds of that offering to acquire a private company in a reverse merger.