12/22/2020
New Covid Travel restrictions affecting the UK
UK entry quarantine is still in force for 10 days on arrivals from countries not on the travel corridor list, which may be reduced to 5 days if they do the Test and Release process.
Legal, Regulation & Compliance
12/22/2020
‘Tis the season to be gifting into trusts
Speculation continues over the Chancellor’s next move in the forthcoming Budget, scheduled for 3 March 2021.
12/21/2020
Financial Regulation Update
For the UK, this decision will apply from 19 December 2020 until the end of the transition period
12/21/2020
Allianz chief urges stricter fintech rules after Wirecard scandal
Oliver Bäte says regulation is ‘major problem’ and similar high-profile cases are likely
12/21/2020
Luxury London homes still used to launder illicit funds, says report
National Crime Agency steps up investigations into suspect funds flooding into UK
12/21/2020
Ireland Update – Data Privacy – International Data Transfers
The EDPB Recommendations Since the delivery of the “Schrems II” judgment, there has been no guidance available to transferring parties to assist in determining which supplementary measures should be introduced.
12/21/2020
FCA introduces rule to enhance climate-related disclosures
The rule will apply for accounting periods beginning on or after 1 January 2021
12/21/2020
FCA fines Charles Schwab £9m for safeguarding failures
Charles Schwab UK failed to get the correct permissions from the FCA; then failed to be open with us and, finally, failed to put in place the necessary safeguards to ensure, if required, there could be an orderly return of client assets.
12/21/2020
Regulation alone will not strengthen Europe’s digital sector
The EU needs more risk-taking capital and reformed product markets
12/18/2020
Israeli Billionaire Steinmetz Sentenced to Five Years by Romania's Top Court for Bribery
Steinmetz, along with Israeli media consultant Tal Silberstein, was given a five-year sentence, overturning a lower court decision to acquit both in 2019
12/18/2020
The EU's Data Governance Act just part of data sharing puzzle
Companies across Europe will be hoping that EU law makers address the risk of confusion and unnecessary additional burdens that the DGA might impose when reviewing and amending the Commission's proposals.
12/18/2020
Irish Investment Limited Partnership
The Bill introduces a number of important changes which aim to position the ILP as a leading EU fund vehicle for private equity, sustainable investments and closed-ended alternative funds.
12/18/2020
Why You Should be Planning to make some Data-Based New Year's Resolutions…..
But with various changes and timing shifts on the immediate horizon here in Guernsey, from a business perspective now is the perfect time to be planning your new year goals and objectives from a data protection and privacy perspective.
12/18/2020
Foreign investment: Rising Tides of Politics in Regulation – newly updated report
The new EU Regulation on FDI screening mechanisms (fully operational since 11 October 2020) is also likely to encourage those EU Member States that do not currently have their own regime (just under half of them) to introduce one.
12/18/2020
Greek banks use Dublin to move up to €54bn of risky loans
Irish-domiciled SPVs used to accommodate Greek assets, Central Bank reveals
12/18/2020
The CSSF Releases Updates on the Implementation of ESG Fast Track Procedure for Disclosure Updates
The sustainability risk assessment approach and related disclosures feed into UCITS prospectus
12/18/2020
Business sentiment (IFO) rises in Germany
Consumer confidence rose, over a month, the most in 8 years following the launch of the vaccine program.
12/18/2020
Credit Suisse professes "astonishment" at Swiss money laundering charges
Credit Suisse unreservedly rejects as meritless all allegations raised against it and is convinced that its former employee is innocent.
12/18/2020
CaixaBank participates in EU research consortium to develop a personal data protection platform
The company seeks to protect the operations and financial transactions of customers and shareholders to ensure that they take place in the most secure environment possible, preventing external threats that can jeopardise confidentiality and privacy.
12/17/2020
Performance Fees – Central Bank takes initial steps towards implementing ESMA’s guidelines
While the Central Bank notes that the Guidelines could be immediately adopted