01/12/2021
Financial Regulation Update
The BoE's and RFRWG's webpages on the transition to sterling risk-free rates from LIBOR have also been updated accordingly.
Legal, Regulation & Compliance
01/12/2021
German bank to shut accounts of US customers
As savings firm denies services to dual UK and American citizens due to Fatca
01/12/2021
US imposes $8.6m penalty on French-Arab bank for violating sanctions
Despite being aware of the measures imposed on Syria and its state entities, the bank reportedly was not aware that it was violating the sanctions by providing indirect means of money transfer.
01/12/2021
Firm abandons traditional home for ‘agile’ alliance
Most firms have been forced to work remotely in the nine months since the first lockdown, with lawyers at traditional firms effectively experiencing the same working conditions as those at more agile businesses.
01/12/2021
Former Malta regulator CEO asked to refund extra pay
He resigned following reports of an all-expenses-paid trip to Las Vegas
01/12/2021
Responsible openness: The PRA’s approach to supervising banks - speech by David Bailey
He says the regulator is open to international banks operating in the UK as they promote economic dynamism.
01/12/2021
Medicinal cannabis firm ready to start growing and exporting from the Island 'within weeks'
Chrystal’s statement says that facilities are in place to start growing and exporting medicinal cannabis from the Island within weeks.
01/12/2021
Financial Markets Regulatory Outlook 2021
Recover, renew, rebuild
01/11/2021
Central Bank approves new loan repayment holiday lasting till June
It also said that support will be given to vulnerable groups whose obligations are collateralized by primary residence worth of up to €350,000.
01/11/2021
The EU’s vulnerable minorities
This failure gave rise to political resentment in sections of society and missed an opportunity to promote fairer and more economically productive communities.
01/11/2021
Dentons snaps up pensions business
The acquisition will see Dentons add approximately 1,000 SIPPs to its existing book of business
01/11/2021
FCA sounds alarm bell over high risk cryptoassets
Consumers should be wary if they’re contacted out of the blue, pressured to invest quickly or promised returns that sound too good to be true.
01/11/2021
Banks are back
The market has anticipated this to some extent, with both bank stocks and bonds outperforming the general market over the past couple of months, albeit the sector was one of the laggards throughout 2020.
01/11/2021
Revolut files paperwork for UK banking licence
The UK banking licence will allow Revolut to provide full service current accounts with essential products such as overdrafts, loans and deposit accounts.
01/11/2021
The role of an AIF depositary
Its main objective is to enhance investor protection by increasing the depositary missions and responsibilities.
01/11/2021
Deutsche Bank pays $122.9 million to resolve ‘business development’ FCPA offenses
The DOJ charged Deutsche Bank in federal court in New York with one count of conspiracy to violate the books and records and internal accounting controls provisions of the FCPA.
01/11/2021
AJ Bell Removes VAT from MPS and Lines Up New Responsible MPS
VAT is being removed from AJ Bell’s annual management charge of 0.15%
01/11/2021
New year, new UK sanctions regime
Businesses which are subject to the new UK regime should therefore ensure that they understand how these sanctions apply to them, and the extent to which they may differ from the previous EU-derived regime.
01/09/2021
Covid-19: FCA updates expectations on market trading and reporting
Firms that have concerns about their ability to meet their obligations due to Covid-19 should contact the FCA through their regular supervisory channels as soon as possible.
01/09/2021
Business ‘exposed island to risk of financial crime’
The GFSC said it considered Safehaven’s services as ‘inherently high risk’.