08/01/2021
Monzo bank in money laundering rules investigation
Digital bank Monzo is being investigated by the Financial Conduct Authority (FCA) over potential breaches of financial crime regulations, the bank has disclosed.
Legal, Regulation & Compliance
07/30/2021
Socialite Art Collector Jailed in U.K. For Kusama Pumpkin Fraud
Judge David Tomlinson delivered the sentence in a London courtroom on Thursday, saying that the art collector had breached “trust and accountability.
07/30/2021
Walkers London launches EMEA-based Bermuda law practice
Walkers' London office provides time-zone sensitive Bermuda law support to clients in the EMEA region across the full range of legal services
07/30/2021
Macfarlanes advises Chrysalis Investments
Returns from the sale of Embark will be used to fund Chrysalis Investments’ pipeline of investment opportunities.
07/30/2021
Ralph v Ralph leaves open the door for trust rectifications
In that case, there was no need to establish the mistake was mutual.
07/30/2021
European Commision Replies On SDFR Priority Issues
The European Commission's confirmation that SFDR does apply to these Non-EU AIFMs cannot come as a surprise
07/30/2021
Special purpose acquisition companies: FCA confirms more flexible approach to listing
The consultation followed the UK Listing Review, which had noted that this presumption of suspension is a significant deterrent to the growth of the SPAC market in the UK.
07/30/2021
FCA’s regulatory decision-making proposals – faster and less costly, but at what price?
As is the case with statutory notices currently made under Executive Procedures, the FCA will permit (and not disclose to the subject of the notice) communications between staff recommending that action be taken,
07/30/2021
Reforming a Cayman Islands STAR trust: A lesson in obsolescence
The written reasons recently released by the Court
07/30/2021
Demystifying VASPs in Crypto Compliance
This definition encompasses a range of crypto businesses, including exchanges, ATM operators, wallet custodians, and hedge funds.
07/29/2021
FCA: Diversity and inclusion on company boards and executive committees
We also want to improve considerations of broader diversity aspects within diversity policies and related disclosures by companies.
07/29/2021
FCA proposing changes to streamline decision-making
This will give greater responsibility for decisions to senior members of FCA staff close to the matters.
07/29/2021
HM Treasury Initiates Post-Brexit Review of the UK’s AML and CTF Regime
The planned amendments to the MLRs 2017 by virtue of the SI are either “time-sensitive” or “relatively minor” and were proposals for change that were already in development.
07/29/2021
Linklaters advises AKKA Technologies on €2 billion combination with Adecco
As a first step, Adecco will acquire the controlling stakes of the Ricci family and CNP.
07/29/2021
Ireland Update – Publication of initial draft legislation on the Individual Accountability Framework
As this bill progresses through the Irish legislative process, we will provide further updates on any developments in relation to this individual accountability framework.
07/29/2021
Standard Chartered and Northern Trust Announce Zodia Custody Receives FCA Registration
The registration means that Zodia Custody is now providing commercial services to clients as a cryptoasset business.
07/29/2021
ESMA’s report on marketing requirements and communications under the regulation on cross-border distribution of funds
Interestingly, the rules relating to marketing by third country AIFMs and registered AIFMs are also included in some of the responses.
07/29/2021
Sberbank reports 2Q 2021 Net Profit of RUB325.3 bn under International Financial Reporting Standards
"The results of the first half of 2021 reflect the rapid recovery of the Russian economy
07/29/2021
Implementation of Basel standards: Non-performing loan securitisations
The PRA proposes that the implementation date for the changes resulting from this CP would be Saturday 1 January 2022.
07/29/2021
European Commission announces new EU AML Package
Further analysis of the detailed practical changes that are likely to result from these new proposals will follow in due course