12/01/2020
Second passport demand surges by 50% amid Covid-19 restrictions
While this still remains the case, there’s also been a shift due to the pandemic.
Legal, Regulation & Compliance
12/01/2020
Stephenson Harwood advises Schroders on British Opportunities Trust launch
The Stephenson Harwood team was led by partner Alex Haynes, who was supported by senior associate Carolyn Hall and associate Daniel Whalen.
11/30/2020
PIMFA calls for urgent reform of supervision & FSCS levy to protect consumers & industry as it sets out a roadmap towards lower FSCS bills
PIMFA has consistently argued that policy should be designed to minimise the need for the compensation scheme and protect consumers before the harm occurs - rather than allowing harm to occur and relying on the FSCS as a safety net.
11/30/2020
Swiss court orders full access to records for Vatican financial investigation
Vatican prosecutors have been working with Swiss authorities since filing letters rogatory in December last year.
11/30/2020
Reminder of Upcoming Deadlines Under CbCR Regulations
A Jersey resident UPE (or appointed surrogate parent entity (“SPE”)) of a qualifying multinational group must file the group’s CbC report within a year of the accounting period end date.
11/30/2020
Ireland Update: Virtual Risk Assessments and Employee Consultation on Remote Working Arrangements
Clarity on employer obligations to home working employees is particularly welcome due to the significant increase in employees working from home on a full or part time basis due to COVID-19 restrictions.
11/30/2020
Regulation and the Risks of Implementing Liquidity Limits for Asset Managers
Regulation is necessary and should provide a clear framework for asset managers and suitable protection for investors.
11/30/2020
Corporate Crime Update
Human rights compliance in Germany: Current steps towards a mandatory Human Rights Due Diligence Law
11/29/2020
France's foreign investment regime
On 19 March 2019, an EU Regulation establishing a European screening mechanism for foreign direct investments was adopted (Regulation (EU) 2019/452) which will be fully applicable in France from 11 October 2020.
11/29/2020
What Has Central Bank Independence Ever Done for Us? Speech given by Andy Haldane
They operated, by and large, as an operational agent of government.
11/29/2020
Covid-19: FCA Handbook Notice No 82
The FCA has published the presentation slides from three forums which it convened to discuss the remedies under consideration in response to the findings of its General Insurance (GI) Pricing Practices Market Study (MS18/1).
11/27/2020
Basel Committee amends capital requirements for non-performing loan securitisations
The Committee consulted publicly on the technical amendment in June 2020.
11/27/2020
Burges Salmon head of Private Wealth named Lawyer of the Year
The firm’s head of Private Wealth, Beatrice Puoti, has won Gold in the Lawyer of the Year category at Citywealth’s Magic Circle Awards 2020
11/27/2020
EU watchdog slams Commission for appointing BlackRock as ESG finance advisor
The €280,000 contract, awarded to BlackRock's Financial Markets Advisory (FMA) arm, was for a study advising how the EU should integrate environmental, social, and governance (ESG) factors into European banking rules.
11/27/2020
French regulator AMF criticizes internal control outsourcing processes among asset managers
Trading platform providers, technology vendors, market integration companies and liquidity providers are under the microscope as French regulatory authority AMF looks at outsourcing in capital markets
11/27/2020
Royal Bank of Scotland warning of Black Friday scams
Some of the most recent scams being reported by Royal Bank customers are for purchases through Facebook Marketplace.
11/27/2020
ECB warns the future of money is at stake as Facebook preps January crypto launch
The news has alarmed central banks, which are currently at a minimum of two years out from creating their own digital alternatives.
11/26/2020
ECB review sees increased medium-term vulnerabilities for corporates and banks
Current extensive policy support is helping euro area corporates and households to cope with the fallout of the pandemic, but risks can arise either from a premature end to measures or from prolonged support.
11/26/2020
Walkers Advises on Restructuring of Fashion Retailer
The Walkers Jersey team comprised Group Partner Jon Le Rossignol, Senior Counsel Louise Hamilton and Legal Assistant Matt Tout.
11/26/2020
Benefit scams worth £1bn foiled during lockdown
Fraudsters took advantage of looser rules introduced to cope with a surge of universal credit claims during the pandemic.