12/09/2020
Switzerland orders 12 banks to comply with Fatca
The request from the Internal Revenue Service (IRS) cited the Foreign Account Tax Compliance Act (Fatca) as the reason for compliance.
Legal, Regulation & Compliance
12/09/2020
Guernsey Private Investment Fund regime enhanced by proposed changes
The revisions will create the most comprehensive and flexible suite of options of any private fund regime.
12/09/2020
Bowing out gracefully: LIBOR’s retirement draws near - speech by Andrew Hauser
LIBOR is an interest rate benchmark used in financial markets, which is being phased out. Andrew Hauser sets out what businesses and lenders need to do to be ready for transition.
12/09/2020
EU Developing Plan for National Covid Bad Banks If Needed
Europe’s banking system had a slow recovery from the financial and European debt crises a decade ago, and governments still hold stakes in some lenders.
12/08/2020
DNB faces fine over money-laundering procedures
DNB will now examine Finanstilsynet's report and submit a response, but it said that as Finanstilsynet has not yet finished processing the case and hasn't reached a final conclusion, DNB can't go into further detail on the content of the re
12/08/2020
Bank of England considers legal action over green bonds hoax
“We are aware that a group purporting to be the Bank of England has published fake announcements today through social media and email,” a spokesperson said.
12/08/2020
Open consultation | Non-resident capital gains tax
The Finance Act 2019 expanded the scope for taxing gains made by non-UK residents on UK property
12/08/2020
FCA: Update of position limits for certain commodity derivative contracts
The guidance covers all stages of insolvency, including pre-insolvency, entering insolvency, post insolvency, and restructuring procedures.
12/08/2020
Russian oligarch’s son racked up $50m in day trading losses
Ex-wife of billionaire Farkhad Akhmedov accuses their son of helping to hide assets in divorce battle
12/08/2020
Tax Alert: HMRC "nudge" letters
Read the tax update now.
12/08/2020
FCA backs new ‘digital giants’ regulation
If implemented, the new regime will govern the most powerful UK tech firms – those with ‘strategic market status’ (SMS).
12/07/2020
EU Exit: New FCA webpage on MiFID reporting after TP
We provide details on how we’re moving MiFID reference data and transparency systems away from ESMA as part of the MiFID onshoring process.
12/07/2020
CySEC’s enhancement of procedures to protect client funds held by CIFs
Until now there had been some ambiguity as to the processes to be adopted by CIFs handling client funds.
12/07/2020
Swiss-UK deal to grant consultants privileged mutual access
Under the terms of the deal, British service providers will have access to the Swiss workplace for up to 90 days at a time, the government said on Friday.
12/07/2020
Global Fintech Regulatory Rapid Assessment Study due to Covid-19
This global study seeks to assess how central banks and other financial regulators are responding to the challenges of Covid-19 in regulating and supervising FinTech activities and other forms of Digital Financial Services.
12/07/2020
The Receivers are coming
Parties often go to great lengths to evade the consequences of a judgment or order including pursuing robust legal challenges in court.
12/07/2020
Malta luxury cards provider fined €373,000 for money laundering breaches
Ultra-rich spenders’ credit card company that recruited former Labour minister Chris Cardona in litany of money laundering breaches
12/07/2020
Directors banned after taking millions from investors
Mr Skinner and Ms Ferreira have now been banned by the Insolvency Service for 10 and seven years respectively.
12/07/2020
Appleby Instructed on Arcadia Group Administrations ,Obtaining Recognation of UK Officeholders
The recognition of the Joint Administrators in the jurisdictions will enable them to continue to trade the stores in those locations, whilst options are explored and the strategy of the administrations evolves.
12/07/2020
Charges expected after Pilatus money-laundering probe
The bank’s operations were shut down in 2018