12/28/2020
Skeoch to lead review into banking regulations
Mr Skeoch’s review will focus specifically on issues such as the separation of retail and investment banking operations and the use of riskier financial products, says the Mail on Sunday.
Legal, Regulation & Compliance
12/28/2020
Global demand for second passports "skyrockets" amid pandemic
Many passports that were previously strong have also fallen from grace, due to their leaders' management of the coronavirus pandemic.
12/28/2020
Jersey, Guernsey and EU all approve Brexit deal
The deal sets-out the framework for trade, when the UK leaves the EU single market and customs union on 31st December.
12/27/2020
Draghi’s Capitalist Model That Recast Italy Is Running Aground
Almost three decades later, and a year since he left as European Central Bank president, what became one of the region’s biggest privatization programs is now in reverse.
12/24/2020
UK tax adviser jailed after ‘guilty’ fraud plea
He conned a client out of more than £45,000
12/24/2020
Irish Government Consultation on the New EU Interest Limitation Rule
The consultation represents an opportunity for business to raise any issues with Irish Revenue and the Department of Finance.
12/24/2020
FCA stays controversial changes to regulatory compensation
The regulatory complaints scheme allows consumers and firms to complain about the way regulators have acted, but the payments are often small.
12/23/2020
Shepherd and Wedderburn banking and finance team reports strong year
In the year to 31 October 2020, the team advised clients, including banks, funds, financial institutions, alternative lenders, public bodies, corporate borrowers and sponsors, on deals with a total value of more than £40 billion.
12/23/2020
UK debt pile reaches £2.1tn after record November borrowing
The Office for National Statistics said last month’s borrowing soared to £31.6 billion.
12/23/2020
UBS Board Gauges Fallout of ING Laundering Probe on New CEO
Board members have gone as far as informally discussing who could take on the CEO role if the situation with Hamers became untenable.
12/23/2020
Industry welcomes memberships update to FCA register
CEO of the CISI, Simon Culhane, said: “This is a very positive step for consumers who can now easily see and choose a chartered professional to provide them with financial advice.
12/23/2020
FCA slammed over regulatory failings at collapsed minibond firm
They are expected to receive only 25% of their money back from administrators.
12/23/2020
Italian police accuse cryptocurrency exchange boss of huge fraud
For the first time in Italy and in Europe, we have documented fraudulent and rapacious conduct to the detriment of investors carried out entirely on IT platforms and via the use of virtual currencies.
12/23/2020
MPs probe NS&I after string of complaints
Its premium bonds prize fund rate was reduced from 1.4 per cent to 1 per cent.
12/22/2020
MoneyThing Capital Limited enters administration
The Joint Administrators’ function is generally to act in the interest of the company’s creditors as a whole
12/22/2020
EU market abuse sanctions reach €88 million in 2020
The Report will help ESMA’s ongoing work in fostering supervisory convergence in the application of the MAR and contribute to ESMA’s goal
12/22/2020
EBA provides additional clarity on the implementation of selected COVID-19 policies
As additional policy issues are likely to arise in the context of the EBA’s monitoring of the implementation of COVID-19 policies, the EBA expects to update the Report at a later stage.
12/22/2020
Information Notice has brought clarity to industry's questions over investment into cannabis assets by Guernsey structures
The information notice itself does not represent any official legislation or statute but it does provide those in Guernsey's finance sector with a clear direction insofar as opening the gateway to wider cannabis investment, not just where it is culti
12/22/2020
Europe’s Embattled Banks Look to Mergers as Way Out of Malaise
Now, bank boardrooms from Madrid to Frankfurt are abuzz with talk of mergers and acquisitions that could help them exit this painful loop and create a European behemoth that can survive.
12/22/2020
How to limit the risks of serving EM clients: a legal expert's solution
Asset managers dealing with clients directly in emerging markets face an array of legal, compliance, and regulatory risks.